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Starting a Business All-in-One For Dummies, 3rd Edition
book

Starting a Business All-in-One For Dummies, 3rd Edition

by Eric Tyson, Bob Nelson, The Experts at Dummies
April 2022
Beginner content levelBeginner
656 pages
17h 51m
English
For Dummies
Content preview from Starting a Business All-in-One For Dummies, 3rd Edition

Chapter 1

Setting Up the Books

IN THIS CHAPTER

Bullet Navigating the accounting cycle

Bullet Choosing between cash-basis and accrual accounting

Bullet Deciphering double-entry bookkeeping

Bullet Introducing the Chart of Accounts

Bullet Reviewing the types of accounts that make up the chart

Bullet Creating your own Chart of Accounts

All businesses need to keep track of their financial transactions — that’s why bookkeeping and bookkeepers are so important. Without accurate records, how can you tell whether your business is making a profit or taking a loss?

The first part of this chapter covers the key parts of bookkeeping by introducing you to the language of bookkeeping, familiarizing you with how bookkeepers manage the accounting cycle, and showing you how to understand the most difficult type of bookkeeping — double-entry bookkeeping.

Can you imagine the mess your checkbook would be if you didn’t record each check you wrote? ...

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Publisher Resources

ISBN: 9781119868569Purchase Link