Accounting Basics - AccSoft

Accounting Basics Important Disclaimer Important Note: The text in this chapter is intended to clarify business-related concepts. It is not intended nor can it replace formal legal advice. Before taking any actions relating to your business, always consult your accountant or a business law/tax attorney. The Need for Accounting Every organization needs to maintain good records to track how much money they have, where it came from, and how they spend it. These records are maintained by using an Accounting system. Accounting for Windows Accounting Basics 5 These records are essential because they can answer such important questions as: Am I making or losing money from my business?

Accounting Basics Important Disclaimer Important Note: The text in this chapter is intended to clarify business- related concepts. It is not intended nor can it replace

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