Remove Accounts Payable Remove General Ledger Remove Small Business Bookkeeping
article thumbnail

Bookkeeping Basics for Small Business: What Every Owner Should Know

Remote Quality Bookkeeping

Even though a basic understanding of financial management may bring an entrepreneur through the first stages of business development, a comprehensive understanding is eventually required. In the content below, we seek to provide a helpful small business bookkeeping guide for startups looking to pave the way to long-term success.

article thumbnail

Why General Ledgers Matter to Businesses

Remote Quality Bookkeeping

When you first started out, you were paying for business expenses out of your personal bank account and tracking your accounts payable and accounts receivable using different methods or separate software programs. But the health of your now-thriving business depends on understanding its financial situation.

article thumbnail

What Is a Chart of Accounts, And Why Does it Matter?

Remote Quality Bookkeeping

What is a Chart of Accounts? A chart of accounts (COA) is a great way to organize all your company’s financial details smartly. It is a list of all the accounts used in a business’s general ledger in one place. Current liabilities include any debts that your business will settle within a year.