{"id":87663,"date":"2025-05-20T10:36:56","date_gmt":"2025-05-20T17:36:56","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=87663"},"modified":"2025-05-20T10:36:56","modified_gmt":"2025-05-20T17:36:56","slug":"accounting-basics-to-know-before-starting-a-business","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id87663-accounting-basics-to-know-before-starting-a-business.html","title":{"rendered":"Accounting Basics to Know Before Starting a Business"},"content":{"rendered":"<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-52766\" src=\"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2019\/01\/calculator-glasses-and-forms.png\" alt=\"accounting basics to know\" width=\"395\" height=\"264\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2019\/01\/calculator-glasses-and-forms.png 589w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2019\/01\/calculator-glasses-and-forms-300x200.png 300w\" sizes=\"auto, (max-width: 395px) 100vw, 395px\" \/>You don\u2019t need to be a CPA to start a business, but there are a few accounting basics to know before you dive in can save you a lot of confusion \u2014 and potentially, a lot of money. Good financial habits don\u2019t just keep your books clean; they help you make smarter decisions from day one.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the US Bureau of Labor Statistics, 20% of new businesses fail within the first year, and one of the top reasons is poor financial management. If you\u2019re serious about longevity, getting a handle on accounting isn\u2019t optional \u2014 it\u2019s essential.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s what every aspiring entrepreneur should know about accounting before launching their business.<\/span><\/p>\n<h2><b>Start by Understanding the Two Primary Methods<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Before you worry about bookkeeping software or hiring help, you need to choose an accounting method. This determines how you record income and expenses, and it affects everything from your cash flow to your taxes.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The two most common methods are:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Cash accounting<\/b><span style=\"font-weight: 400;\"> \u2013 You record income when it\u2019s received and expenses when they\u2019re paid. It\u2019s simple and great for small businesses.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Accrual accounting<\/b><span style=\"font-weight: 400;\"> \u2013 You record income when it\u2019s earned and expenses when they\u2019re incurred, regardless of when money changes hands. It gives a more accurate picture of long-term financial health.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">To get a deeper look at the pros and cons of each, check out this breakdown on <\/span><a href=\"https:\/\/finquery.com\/blog\/cash-vs-accrual-accounting\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">accrual accounting vs. cash accounting<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you&#8217;re starting small and handling your own finances, cash accounting might make sense. But if you plan to scale or manage inventory, accrual is often the better choice.<\/span><\/p>\n<h2><b>Know Your Key Financial Statements<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Even if you\u2019re outsourcing your books, you should still know how to read your financial statements. These reports tell the story of your business in numbers. And investors, lenders, or partners will expect you to understand them.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The three main statements to know:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Profit and Loss Statement (P&amp;L)<\/b><span style=\"font-weight: 400;\"> \u2013 Shows your revenue, expenses, and net income over a period of time<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Balance Sheet<\/b><span style=\"font-weight: 400;\"> \u2013 Lists your assets, liabilities, and equity at a specific point in time<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Cash Flow Statement<\/b><span style=\"font-weight: 400;\"> \u2013 Tracks how cash moves in and out of your business<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Being able to interpret these at a glance helps you make informed decisions and spot red flags early.<\/span><\/p>\n<h2><b>Set Up a System That Fits Your Stage<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">You don\u2019t need enterprise-level software right away. But you do need a system \u2014 even a simple one \u2014 that helps you stay organized and consistent.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Depending on your business size and goals, you might choose:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Spreadsheets<\/b><span style=\"font-weight: 400;\"> \u2013 For side hustles or freelancers just starting out<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Cloud-based software<\/b><span style=\"font-weight: 400;\"> \u2013 Like QuickBooks, <a href=\"https:\/\/lenpenzo.com\/blog\/id32124-quickbooks-or-xero-which-online-accounting-software-is-better-2.html\" target=\"_blank\" rel=\"noopener\">Xero<\/a>, or Wave for small-to-medium operations<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Professional bookkeeping services<\/b><span style=\"font-weight: 400;\"> \u2013 Once transactions get more complex or frequent<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Accounting integrations<\/b><span style=\"font-weight: 400;\"> \u2013 To connect sales platforms, payment processors, and inventory tools<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Whatever you choose, set it up early and stick to it. Scrambling during tax season is no one\u2019s idea of a good time.<\/span><\/p>\n<h2><b>Don\u2019t Mix Personal and Business Finances<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">One of the most common early mistakes? Blending business and personal accounts. It may not seem like a big deal at first, but it creates a tangled mess when it comes to taxes, deductions, and even legal liability.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s what to do instead:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Open a dedicated business bank account<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Get a business credit or debit card<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Use separate apps or spreadsheets for tracking<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Pay yourself from the business; don\u2019t pay personal expenses directly<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This simple step protects your business and makes bookkeeping way easier.<\/span><br \/>\n<b><\/b><\/p>\n<p><b>Final Thought<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Starting a business is exciting, but it comes with responsibilities. And accounting is one you can\u2019t afford to ignore. Understanding the difference between accrual accounting vs. cash accounting, knowing your basic reports, and keeping clean records from the beginning gives you a huge advantage.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Because the truth is, businesses don\u2019t fail because they weren\u2019t good ideas; they fail because they weren\u2019t well managed. Get your financial foundation right early, and you\u2019ll give your business every chance to grow on solid ground.<\/span><\/p>\n<p style=\"text-align: right;\"><span style=\"font-size: smaller;\">Photo Credit: stock photo<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>You don\u2019t need to be a CPA to start a business, but there are a few accounting basics to know before you dive in can save you a lot of confusion \u2014 and potentially, a lot of money. Good financial habits don\u2019t just keep your books clean; they help you make smarter decisions from day [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":52766,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","pmpro_default_level":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[455],"tags":[],"class_list":{"0":"post-87663","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"pmpro-has-access","9":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Accounting Basics to Know Before Starting a Business<\/title>\n<meta name=\"description\" content=\"You don\u2019t need to be a CPA to start a business, but there are a few accounting basics to know before you dive in can save you a lot of money.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lenpenzo.com\/blog\/id87663-accounting-basics-to-know-before-starting-a-business.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Accounting Basics to Know Before Starting a Business\" \/>\n<meta property=\"og:description\" content=\"You don\u2019t need to be a CPA to start a business, but there are a few accounting basics to know before you dive in can save you a lot of money.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/lenpenzo.com\/blog\/id87663-accounting-basics-to-know-before-starting-a-business.html\" \/>\n<meta property=\"og:site_name\" content=\"Len Penzo dot Com\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/www.facebook.com\/LenPenzo\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-20T17:36:56+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2019\/01\/calculator-glasses-and-forms.png\" \/>\n\t<meta property=\"og:image:width\" content=\"589\" \/>\n\t<meta property=\"og:image:height\" content=\"393\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Sabado Domingo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@LenPenzo\" \/>\n<meta name=\"twitter:site\" content=\"@LenPenzo\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sabado Domingo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/id87663-accounting-basics-to-know-before-starting-a-business.html#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/id87663-accounting-basics-to-know-before-starting-a-business.html\"},\"author\":{\"name\":\"Sabado Domingo\",\"@id\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/#\\\/schema\\\/person\\\/1dd27012fc05f4ee638b14071ee5aa3e\"},\"headline\":\"Accounting Basics to Know Before Starting a Business\",\"datePublished\":\"2025-05-20T17:36:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/id87663-accounting-basics-to-know-before-starting-a-business.html\"},\"wordCount\":680,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/id87663-accounting-basics-to-know-before-starting-a-business.html#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/01\\\/calculator-glasses-and-forms.png\",\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/id87663-accounting-basics-to-know-before-starting-a-business.html#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/id87663-accounting-basics-to-know-before-starting-a-business.html\",\"url\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/id87663-accounting-basics-to-know-before-starting-a-business.html\",\"name\":\"Accounting Basics to Know Before Starting a Business\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/id87663-accounting-basics-to-know-before-starting-a-business.html#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/id87663-accounting-basics-to-know-before-starting-a-business.html#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/01\\\/calculator-glasses-and-forms.png\",\"datePublished\":\"2025-05-20T17:36:56+00:00\",\"description\":\"You don\u2019t need to be a CPA to start a business, but there are a few accounting basics to know before you dive in can save you a lot of money.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/id87663-accounting-basics-to-know-before-starting-a-business.html#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/id87663-accounting-basics-to-know-before-starting-a-business.html\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/id87663-accounting-basics-to-know-before-starting-a-business.html#primaryimage\",\"url\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/01\\\/calculator-glasses-and-forms.png\",\"contentUrl\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/01\\\/calculator-glasses-and-forms.png\",\"width\":589,\"height\":393,\"caption\":\"accounting basics to know\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/id87663-accounting-basics-to-know-before-starting-a-business.html#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/lenpenzo.com\\\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Accounting Basics to Know Before Starting a Business\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/\",\"name\":\"Len Penzo dot Com\",\"description\":\"The offbeat personal finance blog for responsible people.\",\"publisher\":{\"@id\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/#organization\",\"name\":\"Len Penzo dot Com\",\"url\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/Block_L.png\",\"contentUrl\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/Block_L.png\",\"width\":359,\"height\":360,\"caption\":\"Len Penzo dot Com\"},\"image\":{\"@id\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"http:\\\/\\\/www.facebook.com\\\/LenPenzo\",\"https:\\\/\\\/x.com\\\/LenPenzo\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/lenpenzo.com\\\/blog\\\/#\\\/schema\\\/person\\\/1dd27012fc05f4ee638b14071ee5aa3e\",\"name\":\"Sabado Domingo\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/091c47c59579dfc2121d9bbb2b5eb953681cea9d0a89ce6729ca4650726779ae?s=96&d=monsterid&r=r\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/091c47c59579dfc2121d9bbb2b5eb953681cea9d0a89ce6729ca4650726779ae?s=96&d=monsterid&r=r\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/091c47c59579dfc2121d9bbb2b5eb953681cea9d0a89ce6729ca4650726779ae?s=96&d=monsterid&r=r\",\"caption\":\"Sabado Domingo\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Accounting Basics to Know Before Starting a Business","description":"You don\u2019t need to be a CPA to start a business, but there are a few accounting basics to know before you dive in can save you a lot of money.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/lenpenzo.com\/blog\/id87663-accounting-basics-to-know-before-starting-a-business.html","og_locale":"en_US","og_type":"article","og_title":"Accounting Basics to Know Before Starting a Business","og_description":"You don\u2019t need to be a CPA to start a business, but there are a few accounting basics to know before you dive in can save you a lot of money.","og_url":"https:\/\/lenpenzo.com\/blog\/id87663-accounting-basics-to-know-before-starting-a-business.html","og_site_name":"Len Penzo dot Com","article_publisher":"http:\/\/www.facebook.com\/LenPenzo","article_published_time":"2025-05-20T17:36:56+00:00","og_image":[{"width":589,"height":393,"url":"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2019\/01\/calculator-glasses-and-forms.png","type":"image\/png"}],"author":"Sabado Domingo","twitter_card":"summary_large_image","twitter_creator":"@LenPenzo","twitter_site":"@LenPenzo","twitter_misc":{"Written by":"Sabado Domingo","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/lenpenzo.com\/blog\/id87663-accounting-basics-to-know-before-starting-a-business.html#article","isPartOf":{"@id":"https:\/\/lenpenzo.com\/blog\/id87663-accounting-basics-to-know-before-starting-a-business.html"},"author":{"name":"Sabado Domingo","@id":"https:\/\/lenpenzo.com\/blog\/#\/schema\/person\/1dd27012fc05f4ee638b14071ee5aa3e"},"headline":"Accounting Basics to Know Before Starting a Business","datePublished":"2025-05-20T17:36:56+00:00","mainEntityOfPage":{"@id":"https:\/\/lenpenzo.com\/blog\/id87663-accounting-basics-to-know-before-starting-a-business.html"},"wordCount":680,"commentCount":0,"publisher":{"@id":"https:\/\/lenpenzo.com\/blog\/#organization"},"image":{"@id":"https:\/\/lenpenzo.com\/blog\/id87663-accounting-basics-to-know-before-starting-a-business.html#primaryimage"},"thumbnailUrl":"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2019\/01\/calculator-glasses-and-forms.png","articleSection":["Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/lenpenzo.com\/blog\/id87663-accounting-basics-to-know-before-starting-a-business.html#respond"]}]},{"@type":"WebPage","@id":"https:\/\/lenpenzo.com\/blog\/id87663-accounting-basics-to-know-before-starting-a-business.html","url":"https:\/\/lenpenzo.com\/blog\/id87663-accounting-basics-to-know-before-starting-a-business.html","name":"Accounting Basics to Know Before Starting a Business","isPartOf":{"@id":"https:\/\/lenpenzo.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/lenpenzo.com\/blog\/id87663-accounting-basics-to-know-before-starting-a-business.html#primaryimage"},"image":{"@id":"https:\/\/lenpenzo.com\/blog\/id87663-accounting-basics-to-know-before-starting-a-business.html#primaryimage"},"thumbnailUrl":"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2019\/01\/calculator-glasses-and-forms.png","datePublished":"2025-05-20T17:36:56+00:00","description":"You don\u2019t need to be a CPA to start a business, but there are a few accounting basics to know before you dive in can save you a lot of money.","breadcrumb":{"@id":"https:\/\/lenpenzo.com\/blog\/id87663-accounting-basics-to-know-before-starting-a-business.html#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/lenpenzo.com\/blog\/id87663-accounting-basics-to-know-before-starting-a-business.html"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/lenpenzo.com\/blog\/id87663-accounting-basics-to-know-before-starting-a-business.html#primaryimage","url":"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2019\/01\/calculator-glasses-and-forms.png","contentUrl":"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2019\/01\/calculator-glasses-and-forms.png","width":589,"height":393,"caption":"accounting basics to know"},{"@type":"BreadcrumbList","@id":"https:\/\/lenpenzo.com\/blog\/id87663-accounting-basics-to-know-before-starting-a-business.html#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/lenpenzo.com\/blog"},{"@type":"ListItem","position":2,"name":"Accounting Basics to Know Before Starting a Business"}]},{"@type":"WebSite","@id":"https:\/\/lenpenzo.com\/blog\/#website","url":"https:\/\/lenpenzo.com\/blog\/","name":"Len Penzo dot Com","description":"The offbeat personal finance blog for responsible people.","publisher":{"@id":"https:\/\/lenpenzo.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/lenpenzo.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/lenpenzo.com\/blog\/#organization","name":"Len Penzo dot Com","url":"https:\/\/lenpenzo.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/lenpenzo.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2022\/06\/Block_L.png","contentUrl":"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2022\/06\/Block_L.png","width":359,"height":360,"caption":"Len Penzo dot Com"},"image":{"@id":"https:\/\/lenpenzo.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["http:\/\/www.facebook.com\/LenPenzo","https:\/\/x.com\/LenPenzo"]},{"@type":"Person","@id":"https:\/\/lenpenzo.com\/blog\/#\/schema\/person\/1dd27012fc05f4ee638b14071ee5aa3e","name":"Sabado Domingo","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/091c47c59579dfc2121d9bbb2b5eb953681cea9d0a89ce6729ca4650726779ae?s=96&d=monsterid&r=r","url":"https:\/\/secure.gravatar.com\/avatar\/091c47c59579dfc2121d9bbb2b5eb953681cea9d0a89ce6729ca4650726779ae?s=96&d=monsterid&r=r","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/091c47c59579dfc2121d9bbb2b5eb953681cea9d0a89ce6729ca4650726779ae?s=96&d=monsterid&r=r","caption":"Sabado Domingo"}}]}},"_links":{"self":[{"href":"https:\/\/lenpenzo.com\/blog\/wp-json\/wp\/v2\/posts\/87663","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lenpenzo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lenpenzo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lenpenzo.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/lenpenzo.com\/blog\/wp-json\/wp\/v2\/comments?post=87663"}],"version-history":[{"count":1,"href":"https:\/\/lenpenzo.com\/blog\/wp-json\/wp\/v2\/posts\/87663\/revisions"}],"predecessor-version":[{"id":87664,"href":"https:\/\/lenpenzo.com\/blog\/wp-json\/wp\/v2\/posts\/87663\/revisions\/87664"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lenpenzo.com\/blog\/wp-json\/wp\/v2\/media\/52766"}],"wp:attachment":[{"href":"https:\/\/lenpenzo.com\/blog\/wp-json\/wp\/v2\/media?parent=87663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lenpenzo.com\/blog\/wp-json\/wp\/v2\/categories?post=87663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lenpenzo.com\/blog\/wp-json\/wp\/v2\/tags?post=87663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}