by Small Business Accounting Software | Nov 17, 2025 | Chart of Accounts, Expenses, Terminologies
Payments for leased property or equipment used in operations. Recognized monthly or per the rental agreement. A major recurring operating cost.
by Small Business Accounting Software | Nov 16, 2025 | Accounting Proram, Terminologies
Transactions are recorded instantly into the general ledger without waiting for batch updates. Provides up-to-date financial data. Supports faster decision-making.
by Small Business Accounting Software | Nov 15, 2025 | Assets, Chart of Accounts, Terminologies
Represents money available in currency and bank accounts. This account reflects the most liquid asset that a business can immediately use to settle obligations or invest. It is constantly updated as deposits and withdrawals occur.
by Small Business Accounting Software | Nov 14, 2025 | Chart of Accounts, Terminologies
Money received before goods or services are delivered. It is a liability until the company fulfills its obligation. Examples include advance payments for subscriptions or bookings.
by Small Business Accounting Software | Nov 14, 2025 | Terminologies
A U.S. law passed in 2002 to enhance corporate governance and financial transparency. Requires stricter internal controls and auditor independence. Applies mainly to publicly traded companies.
