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Today Is National Accounting Day

One of your top priorities as a small business owner is keeping a close eye on the money you bring in and pay out. A basic understanding of accounting is essential to running a small business. Keeping up with various formulas and bookkeeping processes can be time-consuming, tedious work, but sticking with it can give you a clear picture of your company's current financial health so you can make important decisions.
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Winning business owners know financial management is one of the most critical factors in a company's success – and an accounting cycle is one of the best ways to keep track of your business's finances. The accounting cycle provides a detailed overview of your company's financial standing, simplifies financial reporting and helps protect your assets. It creates simple, organized financial data that external parties – such as investors – can easily interpret.
You need to keep good records if you run a small business, but, as you may know by now, the bookkeeping process can be time-consuming. Accounting ratios and formulas allow you to quickly evaluate your company's financial condition. You can use accounting ratios on a quarterly or annual basis, depending on the type of business you have. These accounting ratios and formulas can keep your business's finances in order and make sure you understand your financial situation at any given time.
Accounting is important in any size of business, but small business owners in particular need mobile accounting apps that make it easy to monitor their business activity when they're away from the office. While desktop software options may offer more functionality, accounting apps offer accessibility and convenience. Features vary by app, and Android and iOS versions may offer different benefits, so you can choose an app with basic or sophisticated capabilities to help you manage your business. Find the best accounting app for your company's needs from our roundup.
Bookkeeping is a direct record of all purchases and sales your business conducts, while accounting is a subjective look at what that data means for your business. An accountant can be considered a bookkeeper, but a bookkeeper can't be an accountant without proper certification. Thinking about hiring an accountant or bookkeeper? Here's what you need to know about these two roles to determine which one your business needs.
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Best Picks and Reviews
Whether you need to telecommute or troubleshoot someone else's computer, remote PC access software lets you work on another computer from across the room or across the globe.
Looking for an employee retirement plan for you and your staff? Before you select one, check out our guide and best picks.
Medical billing services offer healthcare organizations the option to outsource their revenue cycle management (RCM) processes, including medical coding and billing.
Our team has compared the best accounting software for 2022. See up-to-date comparisons, reviews and costs for the top-rated accounting programs.
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