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Accounting Terms You Should Know

Patriot Software

As a small business owner, the idea of learning accounting lingo can be intimidating. You may not know many terms used in accounting. To better understand your business’s finances, you may want to review a few basic accounting terms. To help you get started, below are explanations of common accounting terms.

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Unlocking the Language of Accounting: Understanding Common Terms

SMBAccountant

Accounting operates within its own language, a system of terms and conventions that serve as the backbone of financial communication and analysis. Understanding this unique language is essential for interpreting financial data, making informed decisions, and effectively navigating the intricate world of business finance.

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Cutting Through The Accounting Jargon For Independent Contractors

PYMNTS

As one-person operations, they often lack the resources and know-how to manage professional finances in a compliant and efficient way, yet they have more complex tax, payments and cash flow management needs than the average individual. Accounts payable is the money you owe your suppliers. Easing The User Experience.

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What is Surcharging?

Lockstep

If you’re an accounting or finance professional, chances are you’ve heard of surcharging. Surcharging is an accounting term that refers to the practice of charging an additional fee for accepting a payment processed through a credit card. Let’s take a closer look.

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Free Small Business Expense Tracking Spreadsheet

xendoo

While expense tracking will remain manual, it will keep your finances organized in one place. . Come tax time, no one wants to sift through old receipts to account for each expense. . With reliable accounting software, you’ll have expense reports. As you can see, all those factors are related to finances.

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FAQs Business Owners Need to Know About The 3 Essential Financial Reports

inDinero Accounting

At inDinero, we believe accounting supports business. If a business owner doesn’t understand an accounting term , we don’t use another accounting term to explain it. We specialize in accountants who speak business to business owners and CEOs. Sometimes there’s just no avoiding accounting speak.

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Cash vs. Accrual Accounting

inDinero Accounting

As a founder, operations or finance manager, you’ll be faced with a myriad of pivotal choices on a daily basis. However, deciding between cash vs. accrual accounting methods is a critical one that will have far-reaching implications. For instance, why is it essential to select between cash and accrual accounting methods?