Feb 17 2025
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Basic bookkeeping terms and concepts explained

By Marie

Here’s a list of basic bookkeeping terms and concepts with simple explanations to help you understand their importance: Bookkeeping Terms 1. Transaction    – Any exchange of money, goods, or services between two parties. Examples include sales, purchases, payments, or receipts. 2. Account    – A record summarizing all transactions related to a specific type…

Jan 18 2025
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 Avoiding common pitfalls in small business accounting

By Marie

When you’re running a small business, it can be easy to overlook some aspects of accounting. However, poor accounting practices can lead to serious financial issues down the road, such as tax problems, cash flow difficulties, or even business failure. To help ensure your small business stays financially healthy, here are some of the most…