by Small Business Accounting Software | Sep 9, 2026 | Terminologies
A detailed ledger that supports a control account in the general ledger, such as Accounts Receivable or Accounts Payable. It contains individual customer or vendor balances. Helps businesses track details without cluttering the general ledger.
by Small Business Accounting Software | Sep 9, 2026 | Chart of Accounts, Terminologies
Covers revenues not derived from primary business activities. Examples include gains from asset sales or foreign exchange. Provides supplementary earnings.
by Small Business Accounting Software | Sep 8, 2026 | Terminologies
The book of original entry where all transactions are first recorded before being posted to the ledger. Each entry shows accounts affected, debit and credit amounts, and a description. It ensures chronological documentation of activities.
by Small Business Accounting Software | Sep 5, 2026 | Chart of Accounts, Terminologies
Equity that has preferential rights to dividends or liquidation proceeds compared to common stock. Usually non-voting but offers stable returns. Hybrid between debt and equity.
by Small Business Accounting Software | Sep 3, 2026 | Accounting Proram, Terminologies
A preliminary bill of sale sent before delivery of goods or services. It outlines expected charges but is not yet a legally binding invoice. Helps customers prepare payment in advance.
