Your bookkeeping and banking info is only as secure as your password - so make it strong. We read a joke recently which said, "I changed all my passwords to 'incorrect' so when I get it wrong the message says 'Your password is incorrect.'"
No matter which bookkeeping platform you use, implement safeguards to help prevent theft.
Let's refresh some basics:
Are you intimidated by “Accountant speak”? Have you avoided looking at your accounts because it’s intimidating? Here are some helpful definitions of the most commonly used Accounting terms. Click here or here for websites with more detailed definitions.
Accounting - A method of recording, classifying, and summarizing financial information for your business
Asset - What your company owns or has rights to (ex. Accounts Receivable is an asset!)
Balance Sheet - A statement that details assets, corresponding liabilities on those assets and equity or retained earnings
Budget - Plan that formulates a company’s goals and objectives in financial terms