Different Entities Mean Different Equity – Meet the Business Entities From the accounting standpoint, you have only to deal with three entities, or forms of business: sole proprietorships, partnerships, and corporations. That’s because even though other forms exist, they share the same accounting structure as one of these three. FACT LLCs, the most common small-business … Read more
Keeping Track of Transactions – It’s All in the Posting The journals are where all the daily bookkeeping activities take place. Peri- odically, that information is transferred to the ledger to update each account. That transfer is called posting, and it’s a critical part of the full accounting process. With computerized systems, the posting process … Read more
Accounting Is More Than Numbers – Different Versions for Different Reasons In addition to you, there may be a lot of people who want to see how your business is doing. This includes your own employees, who may need to track particular numbers to get their jobs done; your accountant, who needs the numbers in … Read more
