Category: Best Practices

Screening for Cultural Fit

Cultural fit can cover a variety of characteristics, but ultimately, the question hiring managers should be looking to answer is, does this candidate’s values align with those of the company?

Read More »

Mastering the Chart of Accounts – Part 2: Balance Sheet Accounts: Assets, Liabilities, and Equity

The balance sheet is typically used to calculate the net worth of the business, and includes liabilities, cash, and equipment. A basic tenet of double-entry bookkeeping is that the total assets (what the company owns) should equal the liabilities plus equity, i.e. the books should balance. Subtracting the liabilities form the assets reveals the net worth of the business.

Read More »

Mastering the Chart of Accounts – Part 1: Income and Expense

Understanding the types and hierarchy of the line items in your chart of accounts will make it easier to maintain clean books, and use your accounting software properly. The chart of accounts categories fall under a few basic groups: income and expense, assets, liabilities and equity accounts.

Read More »