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Accounting Basics for Small Business Owners [By a CPA]

LyfeAccounting

Their financial mismanagement may result in their failure to make decisions to grow their business, meet financial obligations like paying employees or their rent, miss tax deductions that can save them money, or fail to pay their taxes all together. However, eventually, you will be faced with the reality of accounting.

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Accounting Basics for Small Business: A Simple Guide

Snyder

In general, business accounting is the process of organizing and analyzing a company’s financial information to plan and advise on taxes, file tax returns, make forecasts, and help with data-driven financial decision making. So let’s proceed to small business accounting basics.

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Sync Stripe invoices with QuickBooks: How To Close Invoices in QBO With Payments From Stripe Automatically

Snyder

Invoices are an integral part of any business that directly affects its cash flow and financial health. It’s critical to manage them properly and reflect them in accounting correctly. Often, you might get into a situation when you’ve paid invoices in the payment processing system that are still open in accounting.