O'Reilly logo

Alpha Teach Yourself Bookkeeping in 24 Hours by Carol Costa

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Hour 3

The Balance Sheet Accounts

Chapter Summary

In this hour you will learn about…

  • Assets
  • Liabilities
  • Equity
  • Opening entry
  • Net Worth

It is important to know and understand the different types of accounts that are used to record the day-to-day activities of a business. In the last hour, you learned how to set up accounts and files for two very simple business entities. This was a way to ease you into the process, as well as an introduction to the more complex structures of bookkeeping systems that are necessary for larger companies.

 

You have also reviewed the various types of bank accounts that are used for businesses and personal finances. Remember that the bank account is the center of all bookkeeping systems because it tracks the cash that flows in ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required