#accounting-basics
Accounting Basics
Foundational accounting concepts, terminology, and principles for small business owners
What Is a General Ledger? The Complete Guide for Small Business Owners
A plain-English breakdown of what a general ledger is, how double-entry bookkeeping keeps it balanced, and how to set up and maintain GL records—including common mistakes, a step-by-step setup guide, and software options for small business owners.
What Is Accounting? A Complete Guide for Small Business Owners
A plain-English breakdown of accounting for small business owners—how the accounting cycle works, when to use cash vs. accrual basis, the three core financial statements, and the most common bookkeeping mistakes that derail otherwise healthy businesses.
Bookkeeping Tips for Small Business Owners: What Every Entrepreneur Needs to Know
Eleven concrete bookkeeping habits that reduce tax-season stress for small business owners — from separating accounts and categorizing expenses correctly to automating bank feeds and reviewing monthly financial reports.
Debits and Credits Explained: A Plain English Guide for Small Business Owners
A practical explanation of how debits and credits work in double-entry accounting — covering the five account types, the accounting equation, real-world journal entry examples, and the most common bookkeeping mistakes small business owners make.
How to Calculate Gross Income: Formula, Examples, and What It Means for Your Business
Learn exactly how to calculate gross income for your business: the formula, step-by-step examples, the difference between gross and net income, and how to use gross profit margin to make smarter pricing and cost decisions.
How to Read an Income Statement: A Complete Guide for Small Business Owners
Learn how to read and analyze an income statement step by step. This guide explains every line item—from revenue and COGS to gross profit, operating income, and net income—and shows small business owners how to use their P&L to make smarter decisions.
Net Income Formula: What It Is, How to Calculate It, and Why It Matters
Learn what net income is, how to calculate it with the net income formula, and why it's the most important number on your income statement. Includes examples, common mistakes, and tips to improve your bottom line.