Cash-basis accounting is a primary method that small businesses use to keep track of their income and expenses. Typically, if a small business has annual sales of less than $5 million, it may choose ...

The rows of an accounting worksheet -- also known as a trial balance worksheet -- list the accounts of a small business. The columns represent some of the stages of the accounting cycle, starting with ...

How LIFO and FIFO accounting methods impact a company's inventory outlook Carla Tardi is a technical editor and digital content producer with 25+ years of experience at top-tier investment banks and ...

Closing the books on an accounting period is a lengthy and complex process. No matter how complex, it needs to start somewhere. For every company, big or small, it starts with a trial balance. This is ...

SUMIF, SUMIFS, AVERAGEIFS, and COUNTIFS are commonly used accounting functions in Microsoft Excel. These formulas are used to calculate cell values based on the criteria you have described or ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Timothy Li is a consultant, accountant, ...

Bookkeeping can be daunting. There are various tasks to juggle, and getting it wrong could have serious implications. Fortunately, established processes exist to help businesses and entrepreneurs ...