It’s back-to-school time. Why not take a page from the kids’ books and do some learning of your own?
QuickBooks is easy to use, intuitive and flexible. But it is not an accounting manual or class or tutorial. If your business is exceptionally uncomplicated, you might get by without knowing a lot about the principles of bookkeeping.
Still, it helps to understand the basics. Here’s a look at some terms and phrases you should understand.
Account. You’ll set up financial accounts like checking and savings in QuickBooks, but in accounting terms, this refers to the accounts in your Chart of Accounts: asset, liability, owners’ equity, income and expense. [MORE] . . .