Finance

Proper bookkeeping is a crucial part of running a small business. Maintaining accurate transaction records gives you a clear picture of your financial position, which

Financial statements are an essential part of business management. By summarizing your bookkeeping records, financial statements let you monitor financial trends, forecast performance, and make

The income statement, also known as the profit and loss (P&L) statement, is one of the key financial statements in bookkeeping. It helps companies evaluate

The balance sheet is one of the three fundamental financial statements in bookkeeping. The purpose of this statement is to illustrate the book value of

The cash flow statement is one of the three basic financial statements in bookkeeping. By reporting cash flow, the cash flow statement helps businesses understand

Cash flow is one of the key metrics of a company’s financial health. Tracking cash flow gives you a clearer picture of your company’s spending,

Before beginning your bookkeeping journey, you must determine when to record transactions. Cash-basis accounting recognizes transactions when money is exchanged, while accrual accounting recognizes transactions

An essential part of bookkeeping is keeping a detailed record of your financial transactions. Businesses typically achieve this by maintaining a general journal. The simple

The accrual method of accounting requires you to record revenue and expenses as they are incurred, regardless of whether the cash moves in or out

Outsourcing bookkeeping has multiple business benefits. Seeking assistance from trained experts gives you time to focus on higher-impact business activities while ensuring essential financial management