Difference Between Assets and Income Accounts
When any business begins the process of bookkeeping it is important to understand how to establish the records as well as what the different types of accounts mean. A balance sheet is laid out to track several different accounts and includes: assets, liabilities, owner’s equity, income, and expenses. Two accounts that typically cause a bit of confusion are the assets accounts and the income accounts. In order to help you understand how the two differ, it is first important to understand the definition of each. Read more
Common Bookkeeping Mistakes – Dos and Don’ts
There are several common bookkeeping mistakes that business owners make. These mistakes can not only cost you money, they can cost you a great deal of time as well. In order to help you avoid these mistakes, let’s take a look at what they are, and how they affect a business.
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Welcome to FINOS, the BooksonSite Business Blog. Here we provide bookkeeping advice for small business owners.
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