Keeping accurate accounting records is an important part of running a successful small business. In addition to protecting your business in case of an audit, organized records help provide a picture ...

An expense account sounds simple enough, but it actually means two different things in business. First, it's the process that lets employees pay for work expenses and get reimbursed by their company.

While their transactions may not be as large, small businesses use the same system of accounts that large companies use. By understanding the five types of accounts and some common accounts of each ...

Expense accounts, also called expense allowances, are plans under which companies reimburse employees for business-related expenses. These expenses include travel, entertainment, gifts, and other ...

Overhead expenses are any costs that aren't directly associated with generating a profit. Although they don't contribute to revenue, they are still important and necessary. Companies use cost ...

The following general ledger/commitment items are used to record expenses as category 2 and 3 of the Statement of Financial Activity (SoFA) report. The categories are outlined alphabetically. Each ...

What every business should know about expense accounts An expense account sounds simple enough, but it actually means two different things in business. First, it’s the process that lets employees pay ...