Guide for Small Business Owners (2023)
It’s a common bookkeeping problem for small-business owners: You review your monthly bank statements and check them against a handwritten log of sales and expenses. The log and bank statements don’t always match, however. Sometimes the bank says you have more money than your records show, sometimes less. There is a better way to keep track of your business’s finances. It starts with double-entry bookkeeping. What is double-entry bookkeeping? Double-entry bookkeeping, also called double-entry accounting, is a system of recording…