While bookkeeping and accounting are both essential business functions, there is an important distinction. Bookkeeping is responsible for the recording of financial transactions. Accounting is ...

Good bookkeeping is necessary to have the financial information you need to make sound business decisions. Many, or all, of the products featured on this page are from our advertising partners who ...

Discover the audit cycle process, from identification to management review, and learn how it ensures accurate financial ...

Regardless of the size of the business or the industry in which it operates, every organization must maintain office accounting procedures to effectively function. In doing so, the company will ensure ...

Bookkeeping is probably the last thing small business owners want to be doing. However, recording financial transactions is essential for a small business’ stability. “It is vital that businesses have ...

Small-business bookkeeping involves setting up a framework, choosing your method and keeping track of details. Many, or all, of the products featured on this page are from our advertising partners who ...

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Accurate bookkeeping is a necessity for any business.

When you own a small business, it is imperative that you keep a good set of books that are consistently and contemporaneously updated. The tax man will not be satisfied with records that were thrown ...