While their transactions may not be as large, small businesses use the same system of accounts that large companies use. By understanding the five types of accounts and some common accounts of each ...

A chart of accounts helps organize your business’s transactions to reveal where money is coming from and going to. Many, or all, of the products featured on this page are from our advertising partners ...

Asset management is an integral part of accounting basics that deals with the monitoring and maintenance of valuable items owned by an individual or an entity. Assets contribute significantly to the ...

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Liabilities are those accounts to which you owe money in the present, past or future. Accounts receivable, on the other hand, represent money that is owed to you by your customers. When a customer ...

When it comes to building out a balance sheet, an organization’s accounts payable come into play. As you work through a balance sheet, you’ll need to determine whether accounts payable are an asset or ...