The Very Basic, Basics of Accounting

In this episode of "The Basics of Accounting," Scott Hess (tax and business consultant) and John Barton (small business owner) break down the essentials every entrepreneur needs to know about accounting. From understanding the difference between cash and accrual accounting, to the importance of double-entry bookkeeping, Scott and John share practical advice, real-world stories, and hard-earned lessons.

They cover the four key financial statements—balance sheet, profit and loss, cash flow, and retained earnings—and explain why each matters for your business decisions. The conversation also dives into bookkeeping tips, choosing the right accounting software, handling invoicing and expenses, and the realities of taxes for small businesses.

Whether you’re just starting out or looking to sharpen your financial skills, this episode will hel ...