You might have heard of an accountant having to “balance the books” every tax season, or at the end of every fiscal year. Individuals have to balance their own personal books as well to ensure all of their affairs are in order for the upcoming financial season. But what is balancing the books, exactly? And why is it so important? 

You’ve got a business to run – there’s no time to learn everything about everything! So let’s just jump in with the top accounting terms franchise owners need to know.