Business Accounting Basics and Bookkeeping Basics
We’re here to help make accounting simple for entrepreneurs, start-ups, and small businesses. We offer free advice, easy-to-follow tips, and handy resources to guide you through the world of business finance.
At Business Accounting Basics, we use our knowledge and years of helping small businesses to provide you with the best accounting advice and resources. We understand that managing your finances can be overwhelming, especially when you have a business to run. That’s why we are here to simplify the complex accounting world for you.
We review the best accounting software and offer free bookkeeping templates to assist business owners with their administration and accounting.
Startups
From setting up your bookkeeping system to understanding cash flow, tax obligations, and financial statements, we offer resources and tips to help you keep your startup’s finances in order. Includes 15 top tips for startup accounting.
Self-Employed
For self-employed individuals and freelancers, effective bookkeeping is crucial. Key tips include separating personal and business accounts to avoid confusion, invoicing regularly to maintain cash flow, and keeping detailed records of income and expenses.
Small Business
It’s crucial to have a separate bank account, use bookkeeping software, and create a budget for better financial management. Your accounting process includes keeping detailed accounting records, meeting tax deadlines, and producing financial reports.
Free Excel Bookkeeping Templates
We have produced some free Excel bookkeeping templates that you can use for business or personal use. They include cashbook, budgeting, cash flow statement, petty cash, sales receipts, depreciation, stock record card, bank reconciliation and more.
Our templates have been downloaded over 300,000 times. Full instructions and examples are given.
Bookkeeping forms can also be essential in running your business; our forms include a general ledger journal and a new client form.
Accounting Software For Small Businesses
Please note that this page contains affiliate links. While we only recommend products that we believe in, we may benefit financially from any purchases you make.
Accounting software can save small business owners time and money by automating some of the processes. This can be especially beneficial for those who are not familiar with accounting principles. With the right software, you can easily track your expenses, create invoices, manage payroll and even generate financial reports.
For Business Owners
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Accounting Basics
Our basic accounts section will guide you through the different reports that make up the accounts for your business.
We look at the balance sheet, profit & loss, and forecasting and explain how to understand and produce your financial reports.
Each report is explained in detail, with examples, free templates, accounting ratios and calculators.
Bookkeeping Basics
Bookkeeping Basics includes tips on completing bookkeeping and why it is so crucial to your company.
Bookkeeping is entering the information from the source documents used to produce the accounting reports.
The section includes fixed assets, depreciation, bank reconciliation, stock control, purchase invoices, sales invoices and credit control.
Starting a Bookkeeping Business
Are you considering starting a bookkeeping business but don’t know where to look? We have created a guide, including tips and advice on winning clients and setting up your new business.
Running your bookkeeping service often means you can work hours to suit and work from home. There are also many other advantages and disadvantages of starting your own bookkeeping business, so it is worth looking into fully first
Beginner Bookkeeping – Business Accounting Basics
If you are a beginner in bookkeeping, it can seem daunting to get started and know where to go for help. Our simple guide explains the difference between single- and double-entry bookkeeping, debits and credits, how often you need to complete your accounts, and provides useful tips.
Bookkeeping Terms and Definitions
In finance and accounting, there are numerous bookkeeping terms and definitions that might be unfamiliar or confusing to many. We have carefully compiled a comprehensive list. This resource is designed to assist you in navigating the complex world of bookkeeping with greater ease and confidence. Some of the terms include debits, credits, income statement, accruals, prepayments, accounts receivable, double entry bookkeeping and equity.
About Business Accounting Basics
The Business Accounting Basics website is created using hands-on experience and deep knowledge acquired from working within the accounts sector. Not only have we gathered invaluable insights through our direct involvement in the accounting sector, but we also use the practical knowledge we’ve gained from running our own business and assisting with bookkeeping for a diverse range of clients. Angela Boxwell is AAT qualified and is a member in practice. This blend of experience ensures that the guidance and resources provided on our website are grounded, effective, and directly applicable to your business accounting needs.
