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Accounting, explained like a person would explain it

Short, honest explanations of the concepts that come up when you look at your own books — with the formal term given so you can use it when you need to.

  • Plain language first
  • Formal term given
  • No prior knowledge assumed
VaretiqGlossary
TermWhat it actually meansWhere you see it
Accrual basisRecord it when it happens, not when cash movesReporting settings
Accounts receivableMoney customers owe youBalance sheet, invoices
ReconciliationProving your records match the bank'sBanking
Retained earningsProfit you kept in the businessBalance sheet
Deferred revenueYou were paid before doing the workBalance sheet
Working capitalShort-term assets minus short-term debtsDashboard

Terms link to the screen where the concept shows up in your own books.

Glossary interface preview with demonstration data.
First explanation
Plain

Formal wording second.

Every term
In context

Linked to where you meet it.

By design
Short

A paragraph, not a chapter.

No account needed
Free

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Guides

The things people ask in the first month

How to read a profit and loss, why profit is not cash, what to do about a customer who will not pay, and how to prepare for your first close.

In practice

  • Reading your first profit and loss
  • Why profitable businesses run out of cash
  • Setting up a chart of accounts you can live with
  • What your accountant needs from you at year end

Guides are general educational information and are not tax, legal, or accounting advice for your situation.

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