Establishing your business as a separate entity
For Oklahoma entrepreneurs, setting your business up as a separate entity means legally and financially separating your business from your personal holdings. Separations include business transactions such as purchasing inventory, salary expenses, banking transactions, and other business-related activities. A separate…
Creating a general ledger for your business in Oklahoma
If you are a business owner in Oklahoma, then you know that keeping track of your finances is essential. A general ledger can be a great way to achieve that. Understanding a general ledger A general ledger is a record…
The purpose of an accounting journal
Managing a business includes recording entries in an accounting journal. Accounts and general ledgers are used to record all types of financial transactions. Any professional in Oklahoma can maintain a journal with basic knowledge of how the accounting process works….
Necessary due diligence considerations when selling a business
Selling a business requires the perspectives of the buyer and the seller in Oklahoma. Both sides need certain due diligence procedures to get the deal done. Buyers usually prefer asset deals as an asset purchase transaction or as a purchase…