#accounting
Accounting
Master accounting fundamentals and best practices for plain-text bookkeeping
How to Pay Yourself from an LLC: Salary vs. Owner's Draw Explained
Learn how to pay yourself from an LLC using owner's draws or salary, understand the tax implications of each LLC tax classification (sole proprietorship, partnership, S-corp, C-corp), and discover when an S-corp election can save you thousands in self-employment taxes.
QuickBooks Alternatives: 10 Best Accounting Software Options for Small Business in 2026
Compare the 10 best QuickBooks alternatives for small business in 2026. From free options like Wave and GnuCash to full-featured platforms like Xero and FreshBooks, find the right accounting software for your budget and needs.
The Accounting Dictionary: 44 Essential Terms Every Business Owner Should Know
A comprehensive accounting dictionary covering 44 essential terms every business owner should know, organized by category: bookkeeping basics, core accounting concepts, tax terminology, business structures, and financial ratios.
Accounting Software: How to Choose the Right Tool for Your Business
A practical guide to choosing accounting software for your business. Learn the 7 features that actually matter, 5 mistakes to avoid, and how to evaluate options from free tools to enterprise platforms and plain-text solutions.
Cash Receipts: What They Are, How to Record and Manage Them
Learn what cash receipts are, how to record them in a cash receipts journal with journal entry examples, common sources of cash receipts, seven best practices for managing incoming cash, and how proper cash receipt documentation keeps your business tax-compliant and audit-ready.
Equity in Accounting: What It Is, How to Calculate It, and How to Grow It
Learn what equity means in accounting, how to calculate it using the accounting equation, understand the difference between owner's equity and shareholders' equity, what negative equity signals, and practical strategies to grow your business equity over time.
Financial Statements: What They Are, How to Read Them, and Why They Matter
Learn about the four core financial statements every business needs: balance sheet, income statement, cash flow statement, and statement of retained earnings. Includes practical examples, key ratios, common mistakes to avoid, and a framework for using financial data to make better business decisions.
Fixed Costs: What They Are, How to Calculate, and How to Reduce Them
Learn what fixed costs are, how to calculate total and average fixed costs, the difference between committed and discretionary fixed costs, how they compare to variable costs, break-even analysis, and proven strategies to reduce fixed overhead expenses.
Gross Margin: What It Is, How to Calculate It, and How to Improve It
Learn what gross margin is, how to calculate it with the gross margin formula, industry benchmarks, the difference between gross margin and net margin, and seven proven strategies to improve your gross margin.
Gross vs. Net: What Every Business Owner Needs to Know About Income, Profit, and Pay
Understand the difference between gross and net across income, profit, pay, and revenue. Includes formulas, real-world examples, industry benchmarks, and common mistakes to avoid when analyzing your business finances.
How to Pay Yourself from an LLC: Owner's Draw vs. Salary Explained
Learn how to pay yourself from an LLC, including owner's draws, salary, and guaranteed payments. Compare tax implications across LLC structures, understand IRS reasonable compensation rules, and find the best compensation strategy for your business.
Invoice Templates: How to Create and Send Professional Invoices
A complete guide to creating professional invoices. Learn about the 13 essential elements of an invoice, common mistakes, payment terms, and tips to get paid faster.