SB Network

There are a few (and only a few) things you need to understand in order to make setting up your accounting system easier. They’re basic (trust me), and they will probably clear up any confusion you may have had in the past when talking with your CPA or other technical accounting types. Debits and Credits [...]

ACCOUNTING: A NECESSARY EVIL? Many of the small-business managers I know view accounting this way. It’s overhead and really doesn’t contribute to the bottom line. Or does it? The people who run the accounting system speak in an unintelligible blur of debits and credits. They have little grasp of the operation that generates the money [...]

The general ledger is the core of your company’s financial records. These constitute the central “books” of your system, and every transaction flows through the general ledger. These records remain as a permanent track of the history of all financial transactions since day one of the life of your company. Subledgers and the General Ledger [...]