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Avoid These Costly, Yet Common Small Business Bookkeeping Mistakes

Remote Quality Bookkeeping

But running a small business is no small feat. And while it may feel manageable at first, handling small business bookkeeping without the right system or experience can quickly lead to costly missteps. Even small bookkeeping mistakes can snowball into inaccurate reporting, compliance issues, and cash flow problems.

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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.

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GAAP: A Comprehensive Guide

Remote Quality Bookkeeping

If you’re a small business owner or entrepreneur, you’ve probably heard of GAAP, the Generally Accepted Accounting Principles. This set of accounting principles provides standard rules and methods for businesses to collect and report financial information. For instance, GAAP requires the use of accrual basis accounting.