Get Finance-Savvy with 10 Accounting Terms

It’s good to know some basic accounting terms, and here are ten terms with friendly definitions for your review. Asset:  Essentially, assets are what you own.   These include your bank accounts, business equipment, and even the amounts that customers owe you. Revenue:  Revenue is what you make. 

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Your Daily Numbers

Some numbers need reviewing on a daily basis, and one example of this is cash.  When cash is coming in from a number of places, it’s great to have a daily summary of what was collected. It’s also great to make sure all the collections hit your

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The Short and the Long of It

The balance sheet is one of the main financial reports for any business. Among other things, it shows what a company owns, what they owe, and how much they and others have invested in the business. One of the characteristics of a balance sheet is how it

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How to Read Your Balance Sheet

The Balance Sheet is an important report in your business’s financial statements.  Most small business owners are unsure of what all of the numbers mean on this report, so let’s see if we can shed some light on what they mean. A Summary of Balances One big

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Oops: Do You Owe Sales Tax and Not Realize You Do?

One of the side effects of our last economic slowdown was in state government budgets; states searched hard for new income, and many of them found a great source by cracking down on sales tax collections.  Their new hot buzzword:  nexus. Nexus means a connection that a

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