Accounting Terms 101: A Beginners Guide for Business Owners

Accounting Terms 101: A Beginners Guide for Business Owners

Apr 4, 2023

As a business owner, you may have heard various accounting terms thrown around, such as balance sheet, cash flow, and profit and loss statement. However, it is essential to have a clear understanding of these terms to make informed financial decisions for your...
The story of a nonprofit’s bookkeeping challenge

The story of a nonprofit’s bookkeeping challenge

Mar 23, 2020

If you are like most nonprofit businesses, you are keenly aware of the financial and bookkeeping challenges it takes to successfully run your business. A nonprofit’s day to day operations are the same as any other business but you need to make especially smart hires...
The Difference Between Bills, Invoices and Statements

The Difference Between Bills, Invoices and Statements

Jun 9, 2017

As a business owner, invoices are sent to customers who are not paying immediately after a job has been completed or a service was provided. Customers will be paying at a later time and an invoice is sent to break down the cost owed to you. A bill is money owed to a...
Presenting financials

Presenting financials

Jun 2, 2017

After carefully tracking and accounting for all transactions, a presentation of the financial statements helps business owners stay on top of their financials. It is helpful to start with the balance sheet, move on to the income statement, and end with your cash flow....
Tracking for grants

Tracking for grants

May 25, 2017

Grants need to be accounted for at all times and many organizations do not realize that it is necessary to establish proper and transparent accounting practices in order to manage grants and continue to receive them. All income and expenditures from the grant need to...