Connect2Accountants Blog


Written in Plain English. Better manage your money and eliminate stress.

Depreciation definition explained

The accounting definition of depreciation is often one that confuses a lot of people. In this post, the meaning of depreciation will be explained to you in simple language using a simple example – that of a banana.

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The easy-to-understand meaning of accounts receivable (with examples)

Accounts receivable is a basic accounting word but its definition is often explained in a confusing way. In this post, you’ll have accounts receivable explained in a way where you can finally understand its meaning – both the big picture and in detail.

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Meaning of General Ledger in accounting (Illustrated definition of what it is and what it does)

A general ledger is the backbone of an accounting system – but the dictionary definition and meaning is a bit complicated and confusing. In simple terms – it’s an organization system on steroids. Just like a wardrobe that’s organized in such a way where you can find anything.

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What’s equity? Easy to Understand Meaning & Definition

Equity is one of those scientific sounding words that you’ll likely hear about when you borrow to buy a house, seek investment or bring in a partner for a business. But it’s not hard at all to understand what equity means. In a nutshell, it pretty much means the dollar or percentage amount of ‘real’ ownership you have in something.

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The meaning and definition of liability (for the rest of us non-finance people)

Does your face go blank when your accountant or banker asks you about your liabilities? “Liabilities” is a word that is a basic part of running a business and for life in general (did you know your credit card debt was a liability?) so knowing what it means helps you become more financially savvy and hopefully, less stressed out. Learn what it means (in plain and simple English)

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What’s Accounts Payable? (Easy Accounting Meaning & Definition)

What’s accounts payable? The meaning of accounts payable is that it is an account that holds all the amounts that you need to pay people. Think of it as a compartment that holds all your IOUs.

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What’s an Asset (Easy Accounting Meaning & Definition)

Don’t know what the meaning of asset is when it’s used in accounting? I’m going to explain to you the definition of what an asset is in simple and plain English.

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Unit 10 Activity 2 - Xero for Small Business Invoice Details

Download the following image for use in Unit 10 Activity 2, Part 1. You can download it by right-clicking on it and saving it somewhere.

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Unit 1 & 2 - Xero for Small Business Case Study & Logo

Unit 1

Download the case study for the fictitious company — Cafe Catering Pty Ltd here:

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Unit 23 Activity 1 - Xero for Day-to-Day Business DIY Online Bookkeeping Course

The below are files that you will need to complete Unit 23 Activity of the Xero for Day-to-Day Business bookkeeping:

Activity 1

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