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Accounting Basics for Small Business: A Simple Guide

Snyder

Next, you’ll take some basic steps to set up your bookkeeping process and ensure that all your business finances are accurately reflected in your books and available for analysis. Choose your bookkeeping method. Choosing your bookkeeping method (or accounting method) is an important step that will define how you manage your books.

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Basic Accounting for a Small Business: Bookkeeping and Accounting Basics

Snyder

As you’ve probably noticed, when running your own business, you’ll be tasked more with basic bookkeeping than advanced accounting. Basic terms for small business accounting and bookkeeping. They give a summary of financial operations, cash flows, and the overall financial performance of a business for a specific date or time period.