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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. And, it’s probably not why you decided to go into business for yourself. Quick Recap.

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Bookkeeping vs Accounting: What’s the Difference? How Should You Choose?

LyfeAccounting

So today, I’m going to give you three simple points that you should know about bookkeeping vs accounting. Bookkeeping vs Accounting: What’s the Difference? Defining Accounting and Bookkeeping. Technically, the definition of bookkeeping is the activity or occupation of keeping records for financial affairs of a business.