Guides
Practical guides for setting up your books, understanding accounting concepts, and getting the most out of Twin Owls.
How to Invite Team Members & Set User Roles
Invite accountants, bookkeepers, and partners to your business in Twin Owls. Four permission roles (admin, accountant, editor, viewer) let you control exactly what each person sees and does.
Read guideUnderstanding Your Chart of Accounts
Add accounts in Twin Owls, pick account codes that match your reports, and use subaccounts without breaking your books.
Read guideChart of Accounts: What It Is and How to Set It Up
What a chart of accounts is, how Twin Owls organizes the five account types, and how to customize your accounts for rental properties, services, or any small business.
Read guideAccounting Basics: What Every Business Owner Needs to Know
Understand the one rule behind all bookkeeping (the accounting equation) and why it matters for your business.
Read guideMulti-Entity Accounting for Investors
Learn how to manage multiple businesses, LLCs, or rental properties in a single workspace with separate books for each.
Read guideOwner draws and contributions: how to track equity in your books
How owner equity actually works, why draws are not expenses, how to record contributions and distributions, the S-corp salary trap, and a worked example with journal entries.
Read guideJournal Entries: 5 Patterns Every Business Owner Uses
How to create journal entries for revenue, expenses, owner draws, transfers, and credit card charges, with step-by-step examples and the draft-to-posted workflow.
Read guideDebits and Credits Demystified
What debits and credits really mean, why debit isn't 'minus,' and the DEALER mnemonic that makes every journal entry obvious.
Read guideSingle Entry vs. Double Entry Accounting
Single entry vs double entry bookkeeping: how each system works, where single entry breaks down, and which method your business actually needs.
Read guideHow to Read Financial Statements Like a CFO
A beginner's guide to understanding financial statements: income statements, balance sheets, and cash flow, with examples, red flags, and a monthly review checklist for founders.
Read guideProfit First
Why Revenue minus Profit equals Expenses works better than the traditional formula: the multi-account system and behavioral economics behind Profit First.
- 1The Framework That Flips Business Finance
- 2Setting Up Your Allocations
- 3The Twice-Monthly Rhythm
2026 Tax Brackets, IRA, 401(k), and HSA Limits: What You Need to Know
Federal tax brackets for 2026, plus contribution limits and tax benefits for Traditional IRA, Roth IRA, 401(k), Roth 401(k), and HSA accounts, including deduction rules and income phase-outs.
Read guideAccountable Plans: How to Reimburse Yourself (and Employees) Tax-Free
An accountable plan lets your business reimburse you (and your team) for home office, mileage, cell phone, and travel expenses tax-free. Here's the IRS rule, who needs one, and how to set it up.
Read guideThe Augusta Rule: Rent Your Home to Your Business Tax-Free
Learn how IRC Section 280A(g) lets business owners rent their home for up to 14 days per year without reporting the income, and what your business needs to do it right.
Read guide2025 Tax Brackets, IRA, 401(k), and HSA Limits: What You Need to Know
Federal tax brackets for 2025, plus contribution limits and tax benefits for Traditional IRA, Roth IRA, 401(k), Roth 401(k), and HSA accounts, including deduction rules and income phase-outs.
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