Re-Imagining Your Chart of Accounts

The Chart of Accounts is the backbone of your accounting records. It is a list of all of the accounts – bank, loan, asset, revenue, and expense – in your General Ledger, which holds all of your accounting transactions. Think of your Chart of Accounts as a collection of buckets that hold dollars of items […]

Financing Options for Small Businesses

All small businesses need cash to operate, and there are many ways to generate the required cash. The most common way that many businesses get started is when the owner makes an investment from their savings or other personal cash. But what if it’s not enough? In this article, we’ll take a look at some […]

What Is Internal Control?

In accounting, a key term to know is “internal control.” Internal control is the series of processes and procedures that are performed within the organization to ensure the integrity and accuracy of the financial information and reporting of that organization. Internal control is very important to consider in order to protect the business owners, employees, […]