Category: Accounting

by Ben Donovan of Brand Builder University   If you’re looking to strengthen the financial expertise in your business, you may be wondering what role a fractional CFO could play.   But what exactly does fractional CFO mean, what does one do, and just how much might they cost in comparison to a full-time CFO?   In… Continue reading What Is A Fractional CFO? A Guide For Business Owners

  Every business requires accounting to keep track of its earnings and expenditures. Furthermore, it provides the basis for financial analysis that stakeholders like management and investors can use to make business decisions. Accounting systems are primarily divided into two categories: Single-entry and Double-entry systems. Saved Templates In the accounting world, double-entry systems are most… Continue reading What Is Double Entry Accounting and Bookkeeping?

  The amount of money you receive and send out is one of the most important aspects of running a business. As a rule, more should flow in than out, but it doesn’t always happen that way. You may have to pay your staff and suppliers until you receive your cash. Whatever your situation, understanding… Continue reading What is a Cash Flow Statement? How to Read It and Examples

Accrual vs cash basis accounting is basically a matter of timing. The accrual method immediately recognizes expected revenue and expenses, while the cash method reflects actual revenue and expenses.   In this post, we’ll explore this difference further and talk about how to decide which method you should use.   What Is Accrual Accounting?  … Continue reading Accrual vs Cash Basis Accounting

When it comes to bookkeeping, have you ever wondered if you’re “doing it right?” Keeping track of inventory, refunds, and other moving parts can be challenging for eCommerce sellers. Whether you’re running a brick-and-mortar or any eCommerce business, you should keep and refer to many financial statements, and one of which is your ― profit… Continue reading What Is a Profit and Loss Statement?

Accrual accounting is one of the two most prominent accounting methods (the other being cash basis accounting). The accrual accounting method gives better insight into a company’s business operations from a financial perspective. It looks at revenue and expenses in tandem at the times that they are generated.    Smaller businesses may benefit more from… Continue reading What is the Accrual Accounting Method and When Should It Be Used?