Tag: Q&A | The Common Cents

Bookkeeping Versus Accounting: What’s The Difference?

Before we dive into the technical distinctions of what it what… who is who…who should be doing what and when.

Let me start with asking you a question… did you know that there IS a difference? The difference between bookkeeping and accounting.
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Accounts Payable 101 – Making Sure You Pay What You Owe

by Joyce

As promised, let’s continue the modified cash basis conversation that we started over here in the Accounts Receivable 101 convo…

If you want a better picture than a cash-basis** financial statement can give, in additional to tracking what your customers owe you (accounts receivable), you should track what you owe your vendors and suppliers (accounts payable).

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Accounts Receivable 101 – How To Make Sure You Get Paid

by Joyce

Want to get a better handle on your business’ cashflow? Here are the basics of invoicing and accounts receivable for the non-accountant (and newbie bookkeeper).

I see it all the time. New business owners want to get paid so desperately that they don’t set up a proper invoicing and income tracking system… namely “accounts receivable”. (more…)