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Understanding Accounts Receivable (AR): Accounting Basics You Need to Know

Snyder

When it comes to recording sales that you haven’t received payments for, you have to understand what accrual accounting is. The word “accrual” means that an entry is made in your books each time a revenue has been made or an expense has been incurred but without the actual money transfer.

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Basic Accounting for a Small Business: Bookkeeping and Accounting Basics

Snyder

So let’s take a look at how to do basic business accounting, understand what your books tell you, and how to manage them efficiently with helpful software. Small business accounting basics. Small business owners need to get a working grasp of basic bookkeeping and accounting. Let’s recap.