If you work organizing various functions for a church, you will greatly benefit from using church accounting software. The software is designed to keep track of various types of records that pertain to the church, its members and its funding. The best part about using the software for the church is that you do not [...]
Here is a very common ratio that a small business can start using right away.
The Current Ratio is used by short-term creditors to determine a company’s ability to meet short-term financial obligations. Short-term creditors prefer a high Current Ratio. Higher current ratios are an indication of lower risk and consequently, lower current ratios suggest higher [...]
Before you being keeping “the books”, There’s a few things that you need to understand. I promise it’s not that difficult.
Here’s the first lesson.
There are two different methods of accounting for a company’s transactions: Cash and Accrual. You might have heard them referred to as Cash Basis or Accrual Basis. The [...]
As promised, here is an expample of a business (actually 2 businesses) that didn’t take the time to update their accounting records.
This is a repeat post…
It only takes 30 minutes to 1 hour a day MAX, for most small business owners, to update their accounting records. This pre-selected time will ensure you have accurate records [...]
Whether you want to admit it or not, every entrepreneur needs to learn some basic accounting procedures.
Here’s why…
Accounting can be seen from 2 different views. The first is from the eyes of the non-accountant. Words that enter their minds are boring, mundane, an expense, required, structured, records, paperwork, confusing, taxes, CPA’s, nerds (I can say [...]
