The Best Accounting Software for Small Businesses in 2024

best bookkeeping books for small business

Both of these platforms have free ad training to help you market your business. Customers use online directories like Yelp, Google My Business and Facebook to find local businesses. You can also create listings for your business on specific directories that focus on your industry.

best bookkeeping books for small business

Products and Services

They lurk in areas, such as accepting payments online, software integrations and technical support services. To avoid overpaying for features you don’t need, make a list of what you’re looking for in an accounting system. As with grocery shopping, creating a list will prevent you from overspending. For businesses operating in global markets, Striven is a powerful accounting ally.

How accountants can benefit from books and other good ideas

For anyone struggling with financial statements, this book turns seemingly intimidating accounting concepts into comprehensible knowledge. It’s a practical tool for small business owners aiming to get a handle on their company’s financial reports without getting bogged down in accounting technicalities. Small business owners should look for an accounting book that is written to the level of their knowledge of finance and bookkeeping.

Accounting for the Numberphobic: A Survival Guide for Small Business Owners by Dawn Fotopulos

Mastering QuickBooks by Crystalynn Shelton, CPA, helps you gain the expertise needed to maintain control of your business’s finances. As a CPA and Advanced Certified QuickBooks ProAdvisor, author Shelton lends her expertise to help set up and maintain your accounts. With a focus on the online version of the software, even experienced QuickBooks users will find helpful information on advanced concepts and functions. Nonprofit Bookkeeping and Accounting For Dummies by Sharon Farris takes a dedicated approach to bookkeeping procedures specific to nonprofit-based companies. Bookkeepers can learn to plan budgets and create payroll accounts to make tax reporting a cinch. The author lists what to do and what not to do when handling grant money, including specific instructions for applying for grants and best practices for filing IRS 990 forms.

The 15 Best Accounting Books for New Small Business Owners

best bookkeeping books for small business

After creating your account, everything is set up so you can get started. Our favorite features that we tested during our review of Zoho Books included its support for 1099 contractors, overall usability and customization options. QuickBooks Online is suitable for small and growing businesses that want a scalable solution with expert support options.

Methodology

Luckily, the IRS has put together a comprehensive guide on business deductions that you can consult if you’re ever unsure about a deduction. Since the IRS accepts digital records, it’s smart to use a cloud-based system like Dropbox, Evernote, or Google Drive so you never have to deal with smudged receipts. You can also use apps like Shoeboxed, which are specifically made for receipt tracking. If bookkeeping you’re going to be doing your own bookkeeping, it’s worth talking to a pro when you set up your system to make sure the accounts you create align with your industry standards and CPA expectations. The way you categorize transactions will depend on your business and industry. Generally speaking, your transactions fall into five account types—assets, liabilities, equity, revenue, and expenses.

  • You can choose how frequently invoices are sent — daily, weekly, monthly or annually — and indicate whether there’s an end date to the billing.
  • The ability to connect your accounting software to the other business programs you use saves you the time of manually transferring data from one system to another.
  • But having a fundamental knowledge of financial management is essential to your business’s success.
  • For example, if you’re a web designer, you could partner with a digital marketing agency.
  • Each province in Canada has a different threshold for when a business owner is required to pay taxes by quarterly instalments, instead of as a lump sum at the end of the year.

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best bookkeeping books for small business

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