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Small Business Accounting Explained in Four Minutes

Keeping track of your money is a vital component of your new business. Accounting sounds like a daunting term - and there is a lot to it - but understanding some of the key elements can be really helpful. In this video we’re going to break down three accounting basics. We’ll look at the basics of bookkeeping and explain why it’s so important. We’ll provide an overview of helpful weekly and monthly reports which help you check the pulse of your business. Then, there’s the tax stuff. We’ll look at the potential tax commitments your business may face. Accounting basics jammed into four minutes. Start your stopwatch and get ready to learn some small business tips and tricks. Steps in the video: 00:00 - Introduction 00:11 - Basic bookkeeping 00:48 - Running reports 01:08 - Weekly checks 01:32 - Monthly reports 02:26 - Taxes Check out more guides and info here: https://www.xero.com/nz/resources/sma... Looking for Xero reviews? Watch Xero Customer Stories:    • Customer Stories   Xero is beautiful accounting software for small businesses and their advisors. See your cashflow in real-time with online accounting, invoicing, payroll, billing & banking. Just login and see the difference. Sign up for a free trial at https://www.xero.com/signup/?utm_camp... Looking for Xero reviews? Watch Xero Customer Stories:    • Customer Stories   Like us on Facebook:   / xero.accounting   Follow us on Twitter:   / xero   Follow us on LinkedIn:   / xero   Subscribe to our YouTube Channel here:    / xeroonlineaccounting   For Xero product support please visit: http://central.xero.com These videos are intended as a general guide only. Please consider what is best for your business. If you require further information specific to your business needs, please speak to your professional advisor/s