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As a small business owner, your jobs and responsibilities within your company can seem never-ending. From overseeing the marketing process to making sure your inventory is well-stocked, you have a lot on your plate. When it comes to accounting, many small business owners find themselves feeling overwhelmed, especially if mathematics wasn’t a favorite subject in school. Fortunately, a variety of books are available to help you understand the accounting process and simplify matters for your business.
Below is an overview of some of the best accounting books for small business owners.
1. Best for Beginners: The Accounting Game
The Accounting Game: Basic Accounting Fresh from the Lemonade Stand is the ideal choice for business owners who are exploring accounting in-depth for the first time. This book offers a clear explanation of the basics of accounting that can be understood by even the least experienced reader.
This book offers:
• Understanding of basic terms like inventory, earnings and assets, as well as step-by-step processes you can use to manage your business’s accounting.
• A story-based, accelerated learning method to keep you engaged as you explore important concepts.
• Worksheets and quizzes to help you master the content.
Reviewers of this book have proclaimed it one of the best choices for beginners who need to learn the basics. The book is available in both an electronic and paperback format. Several reviewers have recommended the paperback format to simplify the process of using the included worksheets and quizzes.
2. Best for Self-Employed: Accounting Made Simple
Self-employed readers may find that they get the most benefit from this short, to-the-point book. In Accounting Made Simple, you will find the basics of accounting broken down into their simplest form. This book uses a few technical terms as possible to give readers access to the information they need in plain English. Accounting Made Simple promises to explain the important concepts you need to understand in as little as 100 pages.
In this book, you will learn:
- The meaning and importance of the Accounting Equation.
- How to prepare financial statements, interpret financial statements and calculate various financial ratios.
- The difference between the cash method and the accrual method.
- The Generally Accepted Accounting Principles and the reasoning behind them.
Reader reviews of this book indicate that it is both simple and well-written. It is a quick read that can either act as a basic overview of accounting or a first step into a more in-depth study of the topic.
3. Best for Ecommerce: Profit First for Ecommerce Sellers: Transform Your Ecommerce Business from a Cash-Eating Monster to a Money-Making Machine
This book is the perfect option for small businesses that focus on ecommerce. Profit First for Ecommerce Sellers is designed to help ecommerce businesses streamline their accounting processes, understand financial data and increase their profits. The goal of the book is to help ecommerce sellers create a reliable stream of profits that translates to long-term success.
Profit First for Ecommerce Sellers offers:
- Insight into four critical areas that often act as pitfalls for ecommerce businesses.
- Clear, actionable advice designed to help ecommerce sellers address and overcome these pitfalls.
- Guidance based on the core concepts of Mike Michalowicz’s Profit First methodology.
This book received glowing reviews from more than 90 percent of readers on Amazon. Readers have described it as a “must-read.” Profit First for Ecommerce Sellers is available on Kindle, as an audiobook and in paperback.
4. Best Quick Start Guide: Accounting for Non-Accountants: The Fast and Easy Way to Learn the Basics
Ideal for beginners, this book was written to help those who have never explored accounting before and are not naturally inclined toward mathematics. The book assumes that the reader has no understanding of accounting principles, starting at the very beginning and explaining these concepts from scratch.
When you read Accounting for Non-Accountants, you will learn:
- How to understand key accounting terms.
- How to prepare your financial statements.
- How to manage a budget.
- How to interpret accounting ratios.
- How to prepare for and handle audits.
This book has garnered positive reviews from people who simply need to brush up on accounting principles, as well as those who were setting up a new business and learning about accounting for the first time. Accounting for Non-Accountants is divided into 12 chapters that can be digested easily. It is available in paperback, on Kindle and as an audiobook.
5. Best for Readers Who Don’t Like Math: Accounting for the Number Phobic: A Survival Guide for Small Business Owner
If you don’t like looking at numbers or you feel overwhelmed by the idea of handling your own accounting, Accounting for the Number Phobic: A Survival Guide for Small Business Owner is the perfect book for you.
This book not only explains why it is so important to understand your business’s accounting, but it will also help you master the concepts you need to know in order to be successful in this endeavor.
This book aims to offer:
- A presentation of accounting principles designed specifically for a reader who isn’t a “numbers person.”
- A simplified guide to understanding all of the most important financial statements, including the balance sheet, cash flow statement and net income statement.
- Real-world advice business owners can apply immediately, such as how to identify the break-even point and how to increase cash flow.
More than 80 percent of reviewers gave this book five stars, calling it “well-written” and “easy to read.”
6. Best for Understanding Tax Code Changes: The Tax and Legal Playbook: Game-Changing Solutions To Your Small Business Questions
In 2017, the Tax Cut and Jobs Act made significant changes to the way the United States handles income tax. For small business owners, these changes were largely overwhelming. The Tax and Legal Playbook: Game-Changing Solutions To Your Small Business Questions was written to help small business owners make sense of the new tax code and leverage these changes for the benefit of their business.
This book offers a step-by-step guide small businesses can use to save money on taxes, build their wealth and gain the most benefits while still complying with all applicable laws. Some of the skills taught in this book include:
- Selecting the best business entity and establishing it legally.
- Building credit.
- Bringing in investors to build your business.
- Taking advantage of tax breaks and deductions.
- Protecting your assets.
- Choosing healthcare policies.
- Planning for retirement.
- Estate planning.
This book is available in paperback, as an audiobook and as an electronic textbook.
7. Best Overview for Small Businesses: Accounting for Small Business Owners
If you are a small business owner looking for a guide to accounting that was written specifically for your needs, you can’t go wrong with Accounting for Small Business Owners. This book teaches all of the concepts, procedures and strategies you need to manage your business’s finances effectively, including:
- Understanding basic accounting terms.
- Establishing solid accounting procedures.
- Dealing with common financial scenarios.
- Managing inventory and selling products or services.
- Performing account balancing on a monthly basis.
In addition, this book includes sample accounting statements for readers to review, as well as tips and tricks to make accounting easier. More than 75 percent of Amazon reviewers gave this book four or five stars. It is available in paperback, hardcover and on Kindle.
8. Best for Increasing Profits: Simple Numbers, Straight Talk, Big Profits!: 4 Keys to Unlock Your Business Potential
If you are a small business owner hoping to increase your profits with better accounting and decision-making, Simple Numbers, Straight Talk, Big Profits!: 4 Keys to Unlock Your Business Potential is the tool you need to get started. This book is designed to present accounting principles in the simplest manner possible. Some of the topics covered in this guide include:
- How to understand the basics of accounting and how it affects your business.
- How to grow your business from a startup to a successful firm.
- The most common financial errors small businesses commit.
- How labor productivity affects profitability.
- How to make better human resource decisions.
Simple Numbers, Straight Talk, Big Profits!: 4 Keys to Unlock Your Business Potential is available in hardcover, paperback and electronic format. More than 85 percent of reviewers have given this book five stars and would recommend it to other readers.
9. Best for Tax Insights: Tax Savvy for Small Business: A Complete Tax Strategy Guide
Tax Savvy for Small Business: A Complete Tax Strategy Guide was written for the purpose of teaching small business owners how to create a winning tax strategy that saves time, effort and money. With this book, business owners will learn to run a profitable business, maximize tax benefits and comply with all regulations. Some of the topics covered in this book include:
- How to deduct expenses.
- How to keep detailed, accurate business records.
- How to use tax credits to your advantage.
- How to deduct the cost of expensive assets.
- How to choose the right business structure.
- How to handle an IRS audit.
Many tax benefits are available to small business owners, but some small business owners miss out because they aren’t aware of these opportunities. With this book, you can learn to take advantage of all available benefits.
10. Best for Investing: Warren Buffett Accounting Book: Reading Financial Statements for Value Investing
If you have already earned some income and you are ready to start investing, Warren Buffett Accounting Book can be a valuable resource. This book will help you learn how to pick winning investments based on the contents of accounting statements, as well as other information.
This book contains:
- Instructions for calculating the value of a company using two different methods.
- Guidelines for reading an income statement, cash flow statement or balance sheet.
- Tips for choosing investments that fit your portfolio.
This book is the second volume in a three-book series from Warren Buffett. It is available on Kindle and in paperback format. It has been given four and five star ratings by more than 90 percent of book reviewers, indicating a high level of reader satisfaction.
The ten books included in this list provide all of the information you need to get started with small business accounting. Whether you have no background knowledge and are learning about accounting for the first time or you have been handling your business’s finances for a while, you can benefit from one or more of these texts. If you are new to accounting, consider starting with basic accounting books for beginners and then working your way up to more complex material.