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Accounting for Small Business Owners

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Wanting to Get a Handle on Your Business Finances?

This basic accounting site is designed to help small business owners, students, or anyone wanting to learn accounting in a simple easy-to-understand language.

The examples and tips in this accounting site will give you a solid foundation to build your accounting knowledge.

If you are just starting in your journey to understanding accounting basics better or a small business owner desiring to ensure your accounting system is set up correctly, see this twelve lesson accounting series!

This site also offers free accounting software downloads for small business owners. (see details below)

Understanding accounting concepts is a crucial component of a successful small business!

Such as:

Twelve Lesson Accounting Series

Free Accounting Software

Most business should and do use a double entry accounting system; however, there are certain circumstances where a small business can use a single entry bookkeeping system such as:

  • a start-up business; or
  • a small business with little or no accounts receivables (money owed to your business by your customers) and few or no liabilities (debts owed by your small business); or
  • a small business that cannot afford expensive accounting software just yet
  • ...my free accounting spreadsheets may be just what you need. See this page for details on the free accounting software that you can easily set up and begin to use right away: Free Accounting Software

    There are also sections of this site devoted to the small business owner such as setting up a petty cash account, free mileage log sheet with all of the required IRS information included, choosing the best small business accounting software, and how to set up payroll.

Accounting Resources

Reader Reviews

  • I absolutely love the spreadsheets!! Thank you so much! They are exactly what I needed."

    Becky Back to Natural
  • Thank you so much. I have been stressing about doing this accounting stuff for my husband. Quickbooks was too complicated for his small business and these spreadsheets are just what I was looking for!!!"

  • As a small business owner my expertise has always been in marketing and customer service. I have struggled with many different options for my bookkeeping.

    Vickey's basic accounting help and ledgers have made my business so much easier!"

  • Thank you for your free spreadsheet! It has helped me tremendously to track daily sales and get a grip on the full scope of what revenues are coming in and my expenses.

    Business mileage can be a very good deduction for your small business. It can also be a nightmare, if all the IRS required information is not included in your mileage log.

    Gabby Gumdrop Swap

Accounting How To Resources

  • The Ins and Out of Depreciation Accounting & Depreciation Formulas

    Depreciation accounting can seem a bit overwhelming, but once you learn a little bit about why depreciation is necessary and how depreciation formulas work, you’ll see it’s fairly straightforward and…

  • Cash Flow Analysis

    The Heart of Every Small Business Doing a cash flow analysis for a small business can make a huge difference when it comes to determining whether or not your business…

  • How Do you Capitalize Assets for a Small Business?

    The decision to capitalize assets or record a purchase as an expense is an area of accounting that confuses many bookkeepers and small business owners. When adding an asset cost…

  • Business Mileage Log

    Keep in mind that one of the biggest deductions that you can take off your small business income is your business miles. Hopefully, you kept a good business mileage log….

  • How Much Time and Money do Entrepreneurs Spend on Accounting?

    Would your business be better served by outsourcing accounting to free up more time to run the business?

  • Should your business outsource bookkeeping?

    Many business owners are perfectly capable of handling their own books, but doing the books may be taking time that could be better spent on other aspects of the business. …

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