by cmehnert01 | Oct 23, 2024 | Small business bookkeeping
Assets Assets are resources owned by a business that have future economic value. This includes cash, accounts receivable, inventory, equipment, and property. Assets are listed on the balance sheet and are used to generate revenue. Liabilities Liabilities are...
by cmehnert01 | Sep 24, 2024 | Small business bookkeeping
Managing petty cash might seem like a small task, but it’s crucial to handle it carefully to avoid problems like misappropriation or theft. Here’s how you can keep things under control and make sure petty cash is used properly. What is Petty Cash and Why Proper...
by cmehnert01 | Sep 10, 2024 | Small business bookkeeping
As a business owner, maintaining accurate financial records is crucial. One of the most important processes for ensuring your books are in order is bank reconciliation. Regularly reconciling your accounting records with your bank statements is essential for...
by cmehnert01 | Aug 28, 2024 | Small business bookkeeping
Having both an accountant and a bookkeeper for your business may seem redundant at first glance, but these roles complement each other and are crucial for different reasons. Let’s break it down to understand why each is important and how they work together to support...
by cmehnert01 | Aug 14, 2024 | Small business bookkeeping
It may be frightening to keep books, but not necessarily. When you know the basics and have good tools, you can manage your non-profit’s finances by tracking its income and expenditure. Below are some of the elementary bookkeeping procedures for nonprofits that one...
by cmehnert01 | Jul 31, 2024 | Small business bookkeeping
As a business owner, you should maintain an organized system for tracking your financial operations. A well-structured chart of accounts is one of the most important tools for this task. First, the main categories for your chart of accounts should be determined:...
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