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Sales Tax Accounting Basics [+ Journal Entry for Sales Tax Examples] 

Patriot Software

When you sell goods to customers, you likely collect and remit sales tax to the government. And when you purchase products, you typically pay sales tax. But, how do you record these tax collections and payments in your accounting books? Sales tax accounting.

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

Snyder

While the notion of accounts receivable is explained, you must have a clear idea of how the accounts receivable process works. How do I track accounts receivable? When it comes to recording sales that you haven’t received payments for, you have to understand what accrual accounting is.

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Accounting Basics for Small Business Owners [By a CPA]

LyfeAccounting

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. By the end of this post, you will know the what, why, and how of accounting. What is Accounting? Like really, what does accounting mean? Quick Recap.

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What Are The Accounting Methods? Guide To Cash And Accrual Methods

Snyder

If you run a business, you know that your sales transactions or payments must be recorded in your books, that’s obvious. Read on to learn more about accrual and cash-based accounting methods. Find out what the rules, benefits, and limitations of each of those methods are and how accounting methods apply in the real world of business.

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Synder Product Mapping: A Short Feature Overview

Snyder

While generally, it can be enough to have totals of income, sales, and expenses in the report, having those figures broken down by products, services, or even customers can provide a more in-depth look at what has the biggest influence on the business’s well-being. How to deal with incorrect products without Synder?

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Basic Accounting for a Small Business: Bookkeeping and Accounting Basics

Snyder

You essentially become a jack of all trades – from sales, through customer care all the way to marketing. But the most important aspect of any business is accounting. 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.

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Accounting Basics for Small Business: A Simple Guide

Snyder

Each option has its pros and cons, but no matter which option you choose, it’s important to understand how accounting is handled. So let’s proceed to small business accounting basics. Basic steps in accounting for small businesses. Without an accounting or bookkeeping background, this task may seem daunting.