Learn Bookkeeping

What Bookkeeping Is

Learn what bookkeepers do, why records matter, and how bookkeeping supports every business.

The Accounting Equation

Understand how Assets = Liabilities + Equity keeps every set of books in balance.

Accounts and the Chart of Accounts

See how accounts group money into assets, liabilities, equity, income, and expenses.

Debits and Credits

Learn which accounts increase with debits or credits and how every entry stays balanced.

Source Documents

Understand invoices, receipts, and bills — the proof behind every transaction you record.

Journals, Ledgers, and the Trial Balance

Follow transactions from the journal to the ledger, then check your work with a trial balance.

Cash Basis vs. Accrual Basis

Learn the difference between recording income when cash moves and when it is earned.

Sales and Revenue

Record sales, understand income recognition, and keep revenue accounts accurate.

Accounts Receivable

Track customer invoices, payments received, aging reports, and money still owed to you.

Purchases and Expenses

Record what you buy for the business and sort spending into the right expense accounts.

Accounts Payable

Manage vendor bills, due dates, expense categorization, and the timing of cash going out.

Banking Transactions

Record deposits, transfers, and bank fees so your books match your bank statement.

Credit Cards

Track credit card charges, payments, and interest so card activity stays accurate.

Bank Reconciliation

Compare your bank statement to your books to catch errors, missing items, and fees.

Credit Card Reconciliation

Match credit card statements to your books the same way you reconcile a bank account.

Clearing Accounts and Undeposited Funds

Use clearing and undeposited funds accounts to hold money until it lands where it belongs.

Loans and Debt

Track loan balances, interest, and principal payments so liabilities stay correct.

Owner Equity

Understand owner contributions, draws, and how equity changes over time.

Payroll Bookkeeping

Record wages, taxes, and deductions so payroll entries match what employees are paid.

Sales Tax

Collect, track, and remit sales tax so what you owe the tax agency stays accurate.

Inventory and Cost of Goods Sold

Track inventory value and connect it to cost of goods sold when products are sold.

Fixed Assets and Depreciation

Record long-life assets like equipment and spread their cost over time through depreciation.

Prepaids, Accruals, and Deferrals

Match expenses and income to the right period using prepayments, accruals, and deferrals.

Profit & Loss Statement

Read the income statement to see revenue, expenses, and profit over a period of time.

Balance Sheet

Understand what the business owns, owes, and is worth on a single date.

Statement of Cash Flows

See how cash moves in and out through operations, investing, and financing.

How Financial Statements Connect

Learn how the three statements link together to tell one complete financial story.

Adjusting Entries

Make end-of-period adjustments so accounts reflect what actually happened.

Month-End Close

Follow the steps to close the books each month and keep records accurate and current.

Year-End Bookkeeping

Prepare books for tax time with year-end adjustments, reports, and a clean close.

Bookkeeping Errors

Spot common mistakes, understand why they happen, and learn how to fix them.

Cleanup Bookkeeping

Bring messy books back in order with a clear, step-by-step cleanup process.

Diagnosing Books From Financial Statements

Read financial statements to find signs of errors and problems in the books.

Internal Controls

Set up checks and safeguards that protect the business from errors and fraud.

Documentation and Bookkeeping Judgment

Learn what to document, when to ask questions, and how to make sound bookkeeping decisions.

Working With Clients

Communicate clearly, set expectations, and manage bookkeeping work for clients.

Reading a New Client's Books

Review a new client's books methodically to understand their setup and find issues.