Liabilities-Accounting speak for your handmade business

Liabilities-Accounting Speak Your Handmade Business

Liabilities – that’s an accounting speak for your handmade business term used by CPA’s, tax professionals, and business advisors for money that you owe or will owe to others.  That’s why Liabilities are the second section of your Chart of Accounts. Liabilities are divided into two categories: When it comes to bookkeeping, accounting, taxes, and the IRS – …

Assets-Accounting speak for your handmade business

Assets-Accounting Speak Your Handmade Business

Assets – that’s an accounting speak for your handmade business term used by CPA’s, tax professionals, and business advisors for the things that your handmade business owns that has value.  That’s why Assets are the first things that are listed in the Chart of Accounts. Assets are divided into three categories: When it comes to bookkeeping, accounting, taxes, …

Chart of Accounts - Accounting speak for your handmade business

Chart of Accounts-Accounting Speak Your Handmade Business

Chart of Accounts – that’s accounting speak for your handmade business for the way that CPA’s, tax professionals and business advisers organize financial data about your company.  They use a Chart of Accounts much like we use  a plastic storage organizer to organize our crafting supplies. Now, technically speaking (according to General Bookkeeping and Accounting practices); each …

Accounting speak for your handmade business

Accounting speak in your handmade business

Accounting speak in your handmade business is like a foreign language and if you’ve ever talked with a CPA or a business advisor I’m betting you had a headache by the time you were done! Have you ever, just once, wished that someone would say to you – “So, tell me how much money did …