Small business accouting, in general, are non-complex and straight forward. The fundamental is that the owner of the small business must develop certain level of undertanding of accounting before they could really appreciate the value and necessities of accounting.
Our blog has specially dedicated a separate section to educate our blog readers on basic accounting entries, specifically suits for small business.
Prior to introduction on accounting entries, we would like to highlight to business owner that it's important, convenient and cost-effective to use accounting software to perform daily book-keeping. There are already a few accounting softwares in the market, e.g. Microsoft Office Accounting Express, SAP small business accounting software.
An accounting software is considered imperative in today business environment.It reduces the time spent on book-keeping, prevent 'un-balance' entries, and provide the business owner an effective insight of the Company's financial position and results on a timely basis.