The information contained here is not an exhaustive list of every topic related to bookkeeping. However, this page should help you find various resources, to get you started.

The Basic Chart of Accounts

The basic chart of accounts is a way of categorising your expenses and income into different buckets, or accounts. There are two main types of chart of accounts: the single-entry chart of accounts and the double-entry chart of accounts. The single-entry chart of accounts is what most small businesses use.

The accounting cycle

The accounting cycle is the cycle in which accounting transactions are recorded in the accounting records of the business. The accounting cycle consists of the preparation of an income statement, the preparation of a balance sheet, the preparation of a statement of cash flows, and the preparation of a statement of retained earnings.

How to pick a good bookkeeper

When you’re looking for a bookkeeper, make sure they offer a service that fits your business. You don’t need a full-service bookkeeper if you don’t have a lot of employees or if you’re a solopreneur.

Takeaway

Picking a bookkeeper is an important decision for any business owner. Because the application of bookkeeping skills is diverse, it is important to ensure that you have picked someone that can handle your specific business needs.