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Accounting Basics for Small Business: A Simple Guide

Snyder

It’s necessary to distinguish between accounting and bookkeeping because people often confuse these two notions. Bookkeeping is a part of a business accounting system that focuses on recording and administering financial transactions. Choose your bookkeeping method. Set up a general ledger.

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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.