How to Track Business Expenses in 6 Simple Steps
Managing business expenses is a struggle for small business owners. However, the basics of financial planning can make the difference between a failed business and…
Accounting & Finance
Welcome to the Accounting Hub. Here we provide information and resources related to all things accounting and finance. Whether you are just starting out in your career or are a seasoned professional, we can help you stay ahead of the curve. Browse our articles to find the information you need to make smart financial decisions.
Not sure where to start? Here are the five most important things you need to know for your business’s accounting:
1. Understand the 5 basic accounting principles and the accounting equation.
2. Use various financial statements to track business expenses and make informed decisions.
3. Know the key ratios and metrics (e.g. ROI) used in accounting and financial analysis, and understand how to use them to assess your business’s performance.
4. Be familiar with the different methods of accounting (e.g. accrual vs. cash basis) and understand the pros and cons of each.
5. Be able to use accounting software to manage your business’s finances, and be comfortable working with spreadsheets and other financial software.
6. Understand the basics of financial planning and forecasting, and be able to create simple financial projections for your business.
Most Recent Accounting & Finance Articles
Navigating Accounts Payable vs Accounts Receivable
If you're trying to get a handle on your business's accounting strategy, it's important to understand accounts payable vs accounts receivable. While these two terms…
What is a Liability?
If you've ever reviewed accounting documents for your business, chances are you've asked yourself "What is a liability?" and wondered if you had any. When…
Understanding Your Business Balance Sheet
If you're looking to understand the basics of accounting, it starts with your business's balance sheet. An SBA study found that 50% of businesses don’t…
Understanding the Generally Accepted Accounting Principles (GAAP)
If you're looking to get your business's financial health on track, you may come across the Generally Accepted Accounting Principles. The Generally Accepted Accounting Principles…
Understanding the 5 Basic Accounting Principles
If you want to keep your financial records accurate and organized, it's important to follow basic accounting principles. You could own any type of business…
What is a CPA: What Does a Certified Public Accountant Do?
If you've ever curiously Googled "What is a CPA?" when researching accounting information, you're not alone. Many are confused over the difference between a regular…
Accounting Equation: What You Need to Know for Your Small Business
An accounting equation is a tool businesses of all sizes must use to help keep a handle on their financial health. Even if you have…
Profit Margin Formula: How to Calculate It
A business measures its earnings by its profit margin, which it can calculate with the profit margin formula. Unfortunately, you cannot measure your earnings by…
What is an Asset?
When you are looking into business funding options, you may ask yourself the question "what is an asset?" and wonder if you currently have any…
