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Accounting Basics for Small Business Owners [By a CPA]

LyfeAccounting

As a CPA that studies and practices accounting, I know that accounting isn’t the most exciting thing in the world. However, eventually, you will be faced with the reality of accounting. In this post, I’m going to simplify the accounting basics for small business owners. What is Accounting?

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

Snyder

If you’re training to become a certified public accountant or you already work as a CPA, the accounts are part of your CPE training and you probably know everything there is to know about them. But if you’re a business owner trying to make sense of your finances, it’s good to master the basics.

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Best Accounting Blogs: Finding a Great Blog for Accountants

Snyder

Our favorite articles: IRS seeks comments on several green energy tax credits and Q&A: The 2 most prevalent cyberthreats for CPA firms. Why we love this blog: We wouldn’t be honest when speaking about accounting blogs that we love if we left our own blog unmentioned here. Insightful Accountant. Accountancy blog for CPAs.

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Accounting Basics for Small Business: A Simple Guide

Snyder

You can choose how to deal with your small business accounting, several options are available: Employ a full-time specialist to cover your bookkeeping and accounting needs; Outsource accounting to an independent CPA or an accounting firm. So let’s proceed to small business accounting basics.

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What Type of Accountant Does Your eCommerce Business Need?

xendoo

Cash basis accounting is the simpler of the two methods. In this method, you add an accounting entry every time money enters or leaves your bank account. Basically, you’ll be keeping a record of all your transactions, and this record will largely mirror your sales records and bank accounts. Chargebacks.

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Best Accounting Software for Dropshipping 2023

Snyder

It is quite obvious that accounting software should be secure and user-friendly for any type of business, so we are not talking about that in detail. These are the basic features of accounting software you are looking for when dropshipping: Accounting. Sales Tax Calculation. Customer relationship management (CRM).

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

Snyder

According to a recent USMCA report , the increasing tendency of late invoice payments has been observed lately, with nearly 47% of B2B sales affected. You won’t need to worry about logging in to start synchronization – as soon as you have a sale or an invoice payment in Stripe, it’ll be imported into your QuickBooks automatically.