Business Accounting Basics

Welcome to Business Accounting Basics. This site aims to provide small and medium-sized businesses with the tools and information needed to complete their accounts. You will also find this site useful if you are an accounting student.

We try and keep things as simple as possible while offering tips, software reviews and free bookkeeping templates. All our Excel templates are easy to use with examples and instructions.

Are You New to Bookkeeping?

If you are new to bookkeeping and not sure where to start. Please take a look at the Bookkeeping basics section; as with all our articles, we try and explain everything as simply as possible and give examples. The section includes a breakdown of tasks, including:

  • Sales Ledger
  • Purchase Ledger
  • Petty Cash
  • Credit Contol
  • Cash Book

When you start your accounts, it isn’t easy to know whether to use Excel templates or accounting software. 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, cash flow statement, petty cash, sales receipts, depreciation, stock record card, bank reconciliation and more.

Our templates have been downloaded over 150,000 times. Full instructions and examples are given.

Bookkeeping forms can also be essential in running your business; our forms include a general ledger journal and a new client form.

Cash Book Template

Accounting Basics

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 of how to understand and produce your financial reports.

Each report is explained in detail, with worked examples, free templates, and calculators.

Bookkeeping Basics

Bookkeeping Basics includes tips on completing bookkeeping and why it is so crucial to your company.

Bookkeeping is entering the information from the source documents, which are used to produce the accounting reports.

The section includes fixed assets, depreciation, bank reconciliation, stock control, purchase invoices, sales invoices and credit control.

Business Advice

There are many aspects of running a small business, from setting it up to running it daily and knowing where to get help.

We have years of experience in accounts and running a successful business.

Careful planning and implementation have helped our businesses become successful.

Small Business Accounting Software

Compare Accounting Software

When looking at small business 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.

Please read our guide on the best accounting software for small business; we have included each package’s pricing and pros and cons.

Business Accounting Basics

Several accounting package providers have asked Business Accounting Basics 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.

Guide to starting a bookkeeping business
Business Accounting Basics

Are you considering starting a bookkeeping business but don’t know where to look? We have created a guide, including tips and advice on winning clients and setting 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, 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.

Bookkeeping terms and definitions

There are many bookkeeping terms and definitions that you may not have heard of or do not know their meaning. We have, therefore, compiled a list to help.

Bookkeeping Coventry

If you are looking for bookkeeping in Coventry, contact us, we have years of experience 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 the 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.