Business Accounting Basics
Welcome to Business Accounting Basics. This site aims to provide small and medium-size businesses with the tools and information needed to complete their accounts. If you are an accounting student, you will also find this site useful.
We try and keep things simple as possible while offering tips, software reviews and free bookkeeping templates. All our templates have examples and instructions.
Are you new to Bookkeeping?
If you are new to bookkeeping and not sure where to start. Take a look at the Bookkeeping basics section, as with all our articles, we try and explain everything as simple as possible and give examples. The section includes a breakdown of tasks including:
- Sales Ledger
- Purchase Ledger
- Petty Cash
- Credit Contol
- Petty Cash
- Cash Book
When you start your accounts, it is difficult to know whether to use Excel templates or an accounting package. We look at both options and review some of the best free and paid-for packages. We also have a wide range of free bookkeeping Excel templates with instructions and support if required.
Free Excel Bookkeeping Templates
We have produced some free Excel bookkeeping templates that you can use for business or personal use. They include cashbook, budgeting, petty cash, sales receipts, depreciation, stock record card, bank reconciliation and more.
1000’s of people have downloaded and used our templates on a regular basis. Full instructions and examples are given.
Bookkeeping forms can also play an essential part of running your business; our forms include general ledger journal and a new client form.
Our basic accounts section will guide you through the different reports that make up the accounts for your business.
We look at the balance sheet, profit & loss, and forecasting and give a simple explanation on how to understand and produce your financial reports.
There are free templates to download so you can produce your reports.
Bookkeeping Basics includes tips on how to complete bookkeeping and why it is so crucial to your company.
Bookkeeping is entering the information which is used to produce the accounts.
The section includes fixed assets, depreciation, bank reconciliation, stock control, purchase invoices, sales invoices and credit control.
There are so many aspects of running a small business; from setting it up, to running it each day and knowing where to get help.
We have years of experience in accounts and running our successful businesses.
Careful planning and implementation have helped our businesses become successful.
Starting a Bookkeeping Business
Are you thinking of starting a bookkeeping business, but don’t know where to look? We have created a guide, including tips and advice on how to win clients and set up your new business.
Running your bookkeeping service often means you can work hours to suit and work from home. There are also many other advantages and disadvantages of starting your own bookkeeping business, so it is worth looking into fully first.
Beginner Bookkeeping - Business Accounting Basics
If you are a beginner in bookkeeping, then it can seem very daunting to get started and know where to go for help.
Our simple guide explains the difference between single and double entry and how often you need to complete your accounts.
Business Accounting Software
When looking at accounting software, there are so many different options that it can be challenging to choose the right version for your needs. We have reviewed some of the most popular accounting packages to help you decide which is best for you. Business Accounting Basics has been asked by several accounting package providers to review their software.
There are some excellent free accounting software packages available. Although they do not have all the features of a full package, for a small business, they are ideal.
Accounting terms and definitions
There are many accounting terms and definitions that you may not have heard of or not know their meaning. We have therefore compiled a list to help.
If you are looking for bookkeeping in Coventry, contact us, we have years of experience in both running a business and accountancy. We can help set up accounting software using Xero or Quickbooks for you to run your system. Or if you prefer we can complete all your accounts right up to trial balance and year-end report.
About Business Accounting Basics
The Business Accounting Basics website has been created using the experience and knowledge gained from working in accounts. We also run our own business and help to complete bookkeeping for others. Angela Boxwell is AAT qualified and a member in practice.