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Accounts Payable vs. Accounts Receivable

Patriot Software

As a small business owner, setting up your accounting books and maintaining accurate records is essential. To make that happen, you need to be familiar with accounts payable and accounts receivable. What is the difference between […] READ MORE.

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Basic Accounting for a Small Business: Bookkeeping and Accounting Basics


However, for small businesses, the cash based method of accounting is more commonly used as it’s more straightforward and simpler to execute. Single-entry bookkeeping vs. double-entry bookkeeping. The single-entry method suggests entering each transaction only once.