Accounting basics cheat sheets

Summary of the accounting cycle financial accounting the process of identifying, recording, summarizing analyzing an financial transactions and reporting them

For most of my career, I have kept a sticky note on my laptop with a reminder of how debits and credits work. I want to save you the trouble (and the side-eye glances) by sharing a debits and credits cheat sheet that will help you understand and remember the basics of this accounting concept.

Accounting Equation Chart (Cheat Sheet)

Accounting equation cheat sheet showing the simple balance sheet format for small business bookkeeping accounts.

Accounting Equation cheat sheet | Check here for the business balance sheet format. Follow mybooks for more small business accounting tips

Chart of Accounts

Our Explanation of Debits and Credits describes the reasons why various accounts are debited and/or credited. For the examples we provide the logic, use T-accounts for a clearer understanding, and the appropriate general journal entries.

The Accounting Cheat Sheet 🤓 🔖 Bookmark this if you work in Finance & Accounting!

Balance sheets along with income statements are statements that are not only used to evaluate the health and financial position of a business but are the primary statements that lenders and investors will look at. In our previous article, we talked about creating an internal income statement to analyze our financial data. Here we will discuss the […]

The chart of accounts is a list of every account in the general ledger of an accounting system and is used to record transactions in the fiscal year.

Every business needs to have a list of chart accounts. With that, if you still don't have one, here are some examples you can take into consideration in terms of your business accounting! #chartsofaccounts #accounts #business