Idiot’s Guides: Introductory Accounting

Accurate accountingis the key to a successful business. But when you’re dealing with assets and liabilities, profit and loss, and debits and credits, juggling all the numbers can quickly get confusing. gives you everything you need to know about basic financial accounting to manage your dollars and cents and keep your accounts in order. Ideal for small businesses, as well as any large company bookkeeper, this book covers:

• Structuring your business and choosing an accounting method
• Setting up an accounting system and basic operating procedures (tracking sales, determining costs, managing cash, etc.)
• Creating employee records, maintaining a payroll system, and accounting for benefits
• Keeping tax and benefit records
• Reporting costs
• Closing out cash journals and employee accounts at month end and balancing ledgers
• Preparing month-end and year-end statements and reports
• Producing a balance sheet and monthly profit-and-loss (P&L) statements
• Using accounting software

Table of Contents

Part 1: Laying the Groundwork
Chapter 1 How Accounting Works
Chapter 2 Selecting Your Business Structure
Part 2: Doing the Books
Chapter 3 Choosing Accounting Software
Chapter 4 Managing Your Accounts
Chapter 5 Accounting for Inventory
Chapter 6 Doing Business Day to Day
Chapter 7 Tackling the General Ledger
Chapter 8 Reconciling Bank and Credit Card Statements
Part 3: Employee-Related Accounting
Chapter 9 Setting Up New Team Members
Chapter 10 Understanding Insurance
Chapter 11 Other Benefits and Reimbursements
Chapter 12 Payroll Taxes
Part 4: Financial Reporting
Chapter 13 Tracking Receivables and Payables
Chapter 14 The Big Three Financial Statements
Chapter 15 Internal Control and Minimizing Fraud Risk
Chapter 16 Financial Reports and Stakeholders
Part 5: Monthly, Quarterly, and Annual Activities
Chapter 17 Closing Your Books and Other Accounts
Chapter 18 Remitting and Reporting Taxes
Chapter 19 Filing Business and Personal Tax Returns
Chapter 20 Recordkeeping Rule Book
Part 6: Data Analysis and Forecasting
Chapter 21 Working with Spreadsheets
Chapter 22 More Spreadsheet Tools and Techniques