Below are 7 tips on small business budget planning. But first things first… What is a budget? The Merriam Webster dictionary defines a budget as “…a plan for the coordination of resources and expenditures. So a budget is sort of like a road map for you small business. Creating your small business budget shouldn’t be […]
There are four basic accounting principles, four accounting assumptions and four accounting constraints in accounting rules that businesses use to record and report their financial transactions. These set of rules is called GAAP (Generally Accepted Accounting Principles) GAAP is the foundation we use to help in handling the different accounting concepts we face as business owners.
Deleting or adding extra lines (rows) in the income and expense accounts is not too difficult. See step-by-step instruction below: Deleting rows in income or expense accounts in the general ledger : Highlight the rows you would like to delete. Hint: Don’t delete the first row in each account—it’s what connects it to the row
Accrual basis accounting is one of two accounting methods of keeping track of your business’s income and expenses. Cash basis accounting is the other commonly used accounting method. The third method is a combination of the two and appropriately called theHybrid method. Most small businesses (with sales less than $5 million per year) are free to choose which
An accounting balance sheet shows the financial position of your business at any given point in time. It is like a picture of your small business at that moment. Accounting Balance Sheet Format: It is usually prepared at the close of a period such as quarterly, semiannually, annually, or even monthly. It consists of assets,
Set it up right the first time to avoid problems later! Setting up your accounting financial software can be a daunting task. It is not something you can just “wing it” especially if you have “accounting history”. If you will take the extra time to set it up properly, you will get more accurate reports
Let’s start out with some basic excel spreadsheet tips for customizing your free excel spreadsheet. SAVE an original copy. Look at the bottom tabs. Click on the first tab. Give the Heading Some Personality : Excel Spreadsheet Tip #1: Color Select the Heading. (Click anywhere in row 1 and holding the button down go down
Once you get your free excel spreadsheets modified to suit you and your organization, you will want to protect your data. To prevent a user from accidentally or deliberately changing, moving, or deleting important data from a worksheet; you can protect your data and formulas in a certain worksheet or workbook elements, with or without
Adding and Deleting Revenue and Expense Accounts Make your accounting spreadsheet fit your small business by editing your Automatic Accounting spreadsheets. Deleting Revenue and Expense Accounts in the First Worksheet (GL-Jan) Tip: It’s easier to hide the accounts you do not need than to delete them… Simply highlight all the “accounts” (rows) you do not
Customize your free spreadsheets with the following step-by-step guides. Learn some basic excel spreadsheet tips that will help you customize your free spreadsheets to suit your personality and particular needs. In the following pages, you will learn how to make attractive headers, add and delete columns, add and delete rows, and add and delete accounts.