Is Journal Entry and Double Entry Bookkeeping the Same Thing?

Journal Entry

Bookkeeping can be a confusing task because there are so many ways to do it. It’s not easy for someone who is untrained to understand how to log transactions.  Most people have heard of double-entry bookkeeping, but what about journal entry?  What’s the difference between these two? Is there even a difference at all? Journal […]

Should a Small Business Use A Bookkeeper All Year Round?

small-business-bookkeeper

If you want your business to thrive then you need to make sure that you know exactly what is going on with your finances.  Many small business owners make the mistake of assuming that they don’t need to pay much attention to their finances until they need to do their accounts.  This leads to long […]

Understanding the Process of Recording Business Transactions in Your Accounts

recording business transactions

When you balance your personal cheque book, you record transactions as a single line when they happen, with a description of what the transaction was, and whether it was income or an expense.  With a business, you will usually need something more detailed than that. The Flow of Transactions in Your Accounts While some small […]

Can I Outsource A Bookkeeper?

Outsourced Bookkeeping

Can I outsource a bookkeeper? This is a common question among entrepreneurs because of the many advantages associated with the concept.  And it is only natural for you to ask the same thing if you want to make more cost-effective decisions for your business.  When running a startup, you need to keep an eagle-eye on […]