Money and Rules

Bookkeeping and Accounts

Records, statements, margins and getting paid on time.

Start here · Essential guide

Bookkeeping Basics for Small Business Owners

Learn what records a small business typically keeps, how often to update them, and how bookkeeping differs from accounting, in plain language.

4 min read

Choosing Between Cash and Accrual Accounting

Cash and accrual accounting record the timing of income and costs differently. Learn what each method shows and what to weigh when choosing one.

4 min read

Gross Margin and Net Margin Explained

Gross, operating and net margin each show a different slice of profitability. Learn the formulas and see a labeled hypothetical calculation worked step by step.

4 min read

Handling Late-Paying Customers

Practical steps for chasing overdue invoices: friendly reminders, firm but fair wording, escalation, and when to seek professional help with unpaid bills.

4 min read

How to Do a Break-Even Analysis

Learn how fixed and variable costs determine your break-even point, with a labeled hypothetical calculation and tips on what the result can and cannot tell you.

4 min read

Invoicing Customers and Getting Paid on Time

What a clear invoice includes, how to set payment terms, and how to follow up politely so customers pay on time. A practical invoicing process for small businesses.

4 min read

Preparing Your Records for Tax Season

A general overview of the documents small business owners commonly gather for tax filing, and how organized records through the year make the process easier.

4 min read

Reading a Profit and Loss Statement

Learn how to read a basic profit and loss statement: revenue, cost of goods sold, expenses and net result, with a labeled hypothetical example worked through.

4 min read

Tracking Business Expenses Without the Stress

Simple routines for capturing receipts, choosing expense categories and reviewing spending, so expense tracking becomes a small habit instead of a pile-up.

4 min read

Understanding a Balance Sheet

A balance sheet lists what a business owns, owes and what is left for the owner. Learn assets, liabilities and equity with a labeled hypothetical example.

4 min read

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