1-800Accountant Blog

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Bookkeeping 101: What is a Chart of Accounts?

A chart of accounts is an excellent way for you to see your company’s finances. It provides small business owners with a strategy to see their transactions arranged in several categories. You should know a few things before creating a chart of accounts, especially if you’ll ever plan on adjusting it. Here is what you […]

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Bookkeeping 101: What is Bank Reconciliation?

Bank reconciliation is a useful tool for both external and internal financial records. It can assist you in significant ways to protect your finances. It can also help you determine whether there are errors in your transactions and, if so, how you can correct them. However, there are two things that you should know about […]

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Bookkeeping 101: What is Accounts Receivable?

Accounts receivable are an essential aspect of your business’s finances. Accounts receivable are legally enforceable claims for payment held by a company for goods supplied or services rendered that customers/clients have ordered, but haven’t yet been paid for. What is Accounts Receivable? Accounts receivable is goods, money, or services owed to a business. Accounts receivable […]

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Bookkeeping 101: What Is an Income Statement?

An income statement can help your business and budget. It’s a helpful tool to monitor your spending and figure out how to allocate money. If you’ve never made an income statement before, don’t sweat it. We’re here to walk you through everything you need to know to get you started on the right track.  What […]

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Are You Wasting Time on Small Business Bookkeeping?

Even the smallest of small businesses have bookkeeping and accounting needs. Small business owners need basic bookkeeping to keep track of income and expenses. It’s essential for filing taxes, but bookkeeping also gives you essential information for business decisions. How are you planning to expand? How many new staff members can you afford?  Bookkeeping gives […]

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Bookkeeping 101: 30 Common Bookkeeping Terms

Bookkeeping has several benefits for small business owners. It can help you track your company’s profits or losses, and it can also help you remain organized. Thorough bookkeeping comes in handy if the IRS audits your company. If you are interested in bookkeeping, you’ll need to first know why it is important and you’ll need […]

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Bookkeeping 101: A Crash Course in Record Keeping for Small Businesses

Bookkeeping often confuses many business owners. It is not typically associated with the idea of business operation. However, bookkeeping, recordkeeping, and their intricacies can yield significant benefits for small business owners. Here is what you should know about bookkeeping and recordkeeping, and why you may consider implementing both into your small business. What Is Bookkeeping? […]