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Accounting Basics for Small Business: A Simple Guide

Snyder

Go through business bookkeeping basics. Get to know small business tax obligations and procedures. 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.

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Basic Accounting for a Small Business: Bookkeeping and Accounting Basics

Snyder

All small business owners need to be familiar with basic accounting and bookkeeping, as it gives them a clear picture of the state of their finances, allows them to make informed business decisions, and lets them react to any adverse changes faster. Small business owners need to get a working grasp of basic bookkeeping and accounting.

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Getting Paid 101: Accounts Payable and Accounts Receivable

xendoo

The actual entries you record in your general ledger differ from business to business. The $1,000 is accounts payable, and you record it in your general ledger by crediting $1,000 on the supplier’s X account. Accounts receivable is an asset account on the general ledger and balance sheet.

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What triggers a sales tax audit and how do you reduce the risks?

ThomsonReuters

This survival guide offers strategies and tips from former auditors on how indirect tax teams can avoid audits and minimize their effects. How do you prepare for a sales tax audit? Providing well-organized documents that are easy to understand (invoices, exemption and resale certificates, summary reports, tax returns, etc.)

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