The biggest bookkeeping mistake we see isn’t a wrong number. It’s waiting too long. Most business owners only think about their books in March, when
Retained earnings is the one number on your balance sheet that matches no bank account anywhere. So, is retained earnings a debit or credit? It’s
Is investment a debit or credit? It can be either. It depends on who is making the investment, which is where most of the confusion
Is capital a debit or credit? Capital is a credit. When you invest money into your business, it increases your owner’s equity, and equity accounts
Ask three bookkeeping firms for a quote, and you’ll get three very different prices. That doesn’t mean one firm is overcharging. The reason is that
You’ve probably seen “2/10, net 30” printed on an invoice. It means the buyer gets a 2% discount for paying within 10 days, and the
Imagine your business pays two shipping bills in the same week. One is for bringing inventory in from a supplier. The other is for shipping
Many business owners first come across the term “technical accounting” during a conversation with an investor, lender, or auditor. Then they search online and end
Net income is the profit your business earns during a specific period. Retained earnings are what your business has kept from all its earnings across
As your business grows, there often comes a point where basic bookkeeping isn’t enough. You need experienced financial guidance, but hiring a full-time accountant or
