Basics
Sales Tax Accounting
Sales tax accounting involves asset, revenue, and liabilities accounts such as Sales Revenue, Cash, and Sales Tax Payable.…
August 16, 2021 · Boomi NathanBasics
Basics
Accounts Payable Process
The accounts payable process for a small business is simply the process of accounting for and paying invoices…
August 16, 2021 · Boomi NathanBasics
Accounts Receivables Accounting
Accounts Receivables (AR) are sales made by your small business, but not paid for yet by customers. They…
August 16, 2021 · Boomi NathanBasics
Accounts Receivables Accounting
Accounts Receivables (AR) are sales made by your small business, but not paid for yet by customers. They…
August 16, 2021 · Boomi NathanBasics
How to Figure Your Break-Even Point
Your small business’s break-even point is the point where the total amount of revenue received equals your total…
August 16, 2021 · Boomi NathanBasics
Financial Ratio Analysis
Financial ratios and performing a financial analysis using your financial statements can be a valuable tool in constructing…
August 16, 2021 · Boomi NathanBasics
Understanding Financial Statements
Understanding financial statements is one of the keys to your small business success. Sadly, many entrepreneurs fail not…
August 16, 2021 · Boomi NathanBasics
How to Post to Your Accounting Ledger
A general accounting ledger is a collection of your chart of accounts. It is where all of your…
August 16, 2021 · Boomi NathanBasics
How to Record Accounting Journal Entries
What is a Journal Entry? A journal entry is the primary record of all financial transactions of a…
August 16, 2021 · Boomi NathanBasics
Double Entry Bookkeeping Advantages
Most medium and large businesses use a double entry system which tracks their income and expense AND their…
August 16, 2021 · Boomi Nathan