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Accounting is confusing for business owners who didn’t major in the subject. This glossary of terms will help out with some key accounting terminology. This list will evolve over time, so feel free to ask questions below that we can respond to! Also, check out our separate Bookkeeping, QuickBooks, & Tax definition of terms article. Continue reading “Accounting: Glossary / Definition of Terms”
The name ALOEwerx comes from the basic accounting equation: Assets – Liabilities = Owner’s Equity. These are the basic elements of the balance sheet that all your accounts fit into. The equation must balance for your books to be correct. Now, if you’re not an accountant, this still might not describe what ALOE truly is. Continue reading “What ALOE Stands For (Assets, Liabilities, Owner’s Equity)”