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Welcome to
Accounting 101

A free resource to learn more about accounting without needing to be an accountant

Like all small business owners, you went into business with a dream. You wanted to change the world, sell your unique products or services, make a living, and provide for your family.

Now, reality has kicked in, you are faced with managing your operations and your books. Accounting101.com will explain the basics of accounting in easy-to-understand terms with real-life examples, showing how accounting impacts your daily life.

Remember that you don’t have to be an accountant or have an accounting degree to manage your business accounting. Our goal is to help you understand the basic accounting concepts and how they relate to your business.

Discover everything you need to know

What is Accounting?

Learn about key accounting concepts that will help you track and manage your business financials. Topics include double-entry accounting, chart of accounts, and how to categorize your transactions.

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Your Daily Life

See what a typical day for a small business owner looks like from managing orders, handling finances, and tracking transactions, all of which are essential for maintaining accurate accounting records.

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Cash vs. Accrual Accounting

Learn more about making the choice between a cash or accrual-based accounting system, or maybe both.

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What Should be Tracked?

You need to track all of your financial transactions, learn how to categorize them for accurate fiancial reporting.

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Financial Statements

Learn how your Balance Sheet, Profit and Loss, and a Statement of Cash Flow reports provide you the complete picture of your business finances.

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Key Reports

See the popular reports that small business owners rely on to make informed decisions, improve cash flow management, reduce risks, and plan effectively for future growth.

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Accounting Examples

See how a series of typical accounting transactions affect your General Ledger. These examples are a great way to see how every transaction affects your accounting details.

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Accounting Terminology

There is a lot that makes up ‘accounting’. See popular terms and definitions used to help you learn more about tracking your finances.

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Easy to Use Accounting Software

Using accounting software takes the stress out of keeping track of your accounting. Whether selling products, offering services, or billing for time, hundreds of thousands of small businesses have depended on AccountEdge since 1989.

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