If you run a home business, you might need to apply for a business license or permit. Here’s what you need to know about business licenses and when they’re necessary. What is a Business License? First, let’s be clear on what a business license is. A business license, or permit, gives you the right to …
Free Accounting Spreadsheets For Small Business We have free spreadsheets for small business owners to track and record their small business accounting data! Maintaining proper accounting records is imperative to a small business owner. You need to be able to tell at a glance from your business transactions where you stand financially in order to …
In small business accounting 101, there are several simple basic accounting principles that every small business owner should follow. We are going to discuss the topic of Business or Economic Entity Assumption on this page. Accounting 101: Basic Accounting Principle This assumption requires us as small business owners… to keep all of our business expenses separate from …
Below are some simple accounting terminology or basic terms every small business owner, bookkeeper, and the auditor should have a thorough understanding of…even if you have a certified public accountant CPA that takes care of all that “stuff”… Accounting Basic Definition: Accounting is the process of documenting the financial transactions of your business entity in a way that …
As a small business owner, understanding basic accounting should be at the top of your to-do list even if you have a bookkeeper or accountant that takes care of all the stuff. Basic accounting is simply recording all your business’s financial transaction… putting it all together into your financial statements like your income statement and balance …
Understanding Basic Accounting – Making a Profit Read More »