It also complies with accounting standards and uses double-entry accounting, which can help ensure accuracy. Strong invoicing feature competes with that of paid products; app lets users send invoices on the go; offers significantly fewer reports than competitors; no inventory tracking. Wave’s mobile receipts feature lets you instantly input expenses into Wave. You can effectively…

The same is true about just about any asset you can name, except, perhaps, cash itself. Journal entries are recorded when an activity or event occurs that triggers the entry. Recall that an original source can be a formal document substantiating a transaction, such as an invoice, purchase order, cancelled check, or employee time sheet.…

Read our recent blog posts on all things startup, accounting and finance. Yes, venture-backed high-growth businesses should have as close to GAAP financials as possible. As you establish the financial side of your business, here are five best practices to keep in mind when creating a functional bookkeeping system. Our partners cannot pay us to…

As I say, it’s one of the safest professions you can ever choose to enter, and more so now than at any other time – hence the need for this depth guide. It’s not just politicians who want to change things, it’s the public as well. So it won’t be long before the crackdown comes…