How can I prepare my startup’s bookkeeping for future growth, like attracting investors? To prepare for future growth, implement robust bookkeeping practices from the start. This includes using accounting software, separating personal and business finances, and establishing internal controls. Maintaining accurate and organized records is essential for investor due diligence, as it demonstrates financial stability […]
In the double-entry accounting system, every transaction involves a debit and a credit to balance the books. A debit increases asset and expense accounts but decreases liability, equity, and revenue accounts. Conversely, a credit increases liability, equity, and revenue accounts but decreases online bookkeeping asset and expense accounts. Debits and Credits Other financial reports like […]