Plain-text accounting insights, tutorials, and updates from the Beancount.io team.
Learn how to handle foreign currency accounting for your small business, including exchange rate rules, recording FX gains and losses, hedging strategies, and setting up multi-currency bookkeeping under GAAP.
Learn the difference between fixed and variable costs, see real-world examples across industries, and discover how to use your cost structure for break-even analysis, smarter pricing, and better budgeting.
Learn the essential financial literacy skills every small business owner needs, from reading financial statements and managing cash flow to budgeting, tax planning, and avoiding the most common financial mistakes that cost businesses thousands.
Learn how to build accurate financial forecasts for your small business. This practical guide covers forecasting methods, pro forma statements, scenario analysis, common mistakes, and step-by-step instructions to predict cash flow and plan for growth.
Learn how the FIFO (First In, First Out) inventory method works, how to calculate COGS and ending inventory, FIFO vs. LIFO differences, tax implications, and when FIFO is the right choice for your business.
Learn what FASB (Financial Accounting Standards Board) is, how it sets U.S. accounting standards (GAAP), its standard-setting process, key standards like ASC 606 and ASC 842, and why it matters for small and private businesses.
Learn what an expense report is, how to create one step by step, the three main template types (one-time, recurring, and long-term), common mistakes to avoid, and best practices for IRS-compliant expense tracking.
Learn what expense reports are, how to create one, the three main types of expense reports, IRS-aligned expense categories, best practices for receipt management, and how to prevent expense fraud in your business.
Learn how to manage ecommerce accounting including multi-channel revenue tracking, inventory and COGS management, sales tax nexus compliance, returns handling, and essential financial reports for online sellers.
Learn what the current ratio is, how to calculate it, and what a good ratio looks like for your industry. Includes formulas, a worked example, comparisons with the quick ratio and cash ratio, and practical strategies to improve your business liquidity.
Learn what cost of debt is, how to calculate it using the pre-tax and after-tax formulas, and why it matters for your business decisions. Includes worked examples, current benchmarks, WACC explained, and six strategies to lower your borrowing costs.
Learn how to convert from cash basis to accrual accounting step by step. Covers the four key adjustments (receivables, accrued expenses, prepaid expenses, deferred revenue), IRS Form 3115 filing requirements, Section 481(a) adjustments, common mistakes, and tips for a smooth transition.
