www.accountingbasicsguide.com/ is an independent website that explains small business accounting in plain English. We help business owners, freelancers, students and new bookkeepers understand journal entries, financial statements, payables, receivables and depreciation, with worked examples they can follow step by step.
Why We Started This Site
Most small business owners never planned to become bookkeepers, yet they need to read a balance sheet, track who owes them money and keep records the IRS will accept. Many explanations online are either written for accounting exams or written to sell software. We wanted a clear, practical resource that shows how the numbers actually fit together.
What We Cover
- Accounting basics – debits and credits, journal entries, the general ledger and the trial balance
- Financial statements – income statements, balance sheets and cash flow statements, and how to read them
- Payables and receivables – the accounts payable process, aging reports, turnover ratios and financing options
- Depreciation – straight-line, double declining balance, MACRS tables and accumulated depreciation
How We Create Our Content
- Official sources first. Where rules matter, we rely on public sources such as IRS publications and the U.S. Small Business Administration, and we list our sources at the end of each article.
- Worked examples. We use the same example businesses across articles, so you can follow one set of numbers from journal entries to the trial balance and the financial statements.
- We check the math. Every example is recalculated before publishing, and our statements are built to tie out to each other.
- Regular review. Tax rules and limits change. We update articles when official guidance changes or when readers point out something that could be clearer.
Our Independence
Accounting Basics Guide is not affiliated with any accounting firm, software company, lender or government agency, and we don’t sell accounting services. The site is supported by advertising, and advertisers have no influence over what we write.
Important Note
Our articles are for general educational purposes only and are not accounting, tax, legal or financial advice. Every business is different, so consult a qualified accountant, CPA or tax professional before making decisions for your business.
Get in Touch
Have a question, a correction, or a topic you’d like us to cover? Visit our Contact page or email us at [email protected].
— The Accounting Basics Guide Team