The main difference between cash basis and accrual accounting is the timing of when revenue and expenses are recognized. Which method is best for your business?
First In, First Out (FIFO) is the most common method of inventory valuation. But how does it work and why is it so common? We've got you covered with everything you need to know to start tracking your inventory accurately today!
Having working capital can mean having funds to invest in new technologies and growth. But what does it tell you and how do you measure it? We've got you covered from understanding working capital to making the most of it.
Unearned revenue may be a liability on the books but it does have many benefits for small business owners.
Your PayPal account is blowing up. Now, are your books balanced?
Buried in small business debt? Follow this plan to dig yourself out.
“When will we actually make money?” is the burning question for new businesses. Fortunately, you can answer this question by calculating your break-even point.
Last In, First Out (FIFO) is a method of inventory valuation that assumes you sell your newest inventory first. How does this affect the books? Read on for a definition and examples!
What does an accountant do? And how can you find a good one?
Sign up for a trial of Bench. We’ll do one month of your bookkeeping and prepare a set of financial statements for you to keep. No pressure, no credit card required.