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Every small business owner knows how critical it is to keep a close eye on business finances. Effectively managing your business finances involves regular planning, monitoring and control—allowing you to build a successful business, stay on top of all income and expenditures, and take action to address any issues before they get out of hand.
In order to maintain a successful business and properly control your finances, you should know basic accounting elements and understand how they can impact the bottom line.
Each business finance category below contains the terms you are most likely to encounter. A summary explanation of what each term means is provided but we encourage you to consult your accountant if you have any questions.
At Sage, the source of our inspiration and innovation for Sage 50 (formerly known as Simply Accounting) never changes. Our mission is always driven by the energy and creativity of Canadian business owners pursuing their dreams. Helping them reach their goals is what we do.
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