by Small Business Accounting Software | Oct 17, 2025 | Chart of Accounts, Expenses, Terminologies
Costs of electricity, water, gas, and internet. Essential for daily operations. Variable depending on usage and seasonality.
by Small Business Accounting Software | Oct 14, 2025 | Chart of Accounts, Terminologies
Earnings from allowing others to use intellectual property like patents, copyrights, or trademarks. Provides passive income streams. Recognized per contract terms.
by Small Business Accounting Software | Oct 13, 2025 | Terminologies
The study of differences between actual results and budgeted or standard figures. Identifies areas requiring attention or improvement. A vital managerial accounting tool.
by Small Business Accounting Software | Oct 10, 2025 | Chart of Accounts, Expenses, Terminologies
The cost of items like pens, paper, and printer cartridges consumed during operations. Recorded when used, not purchased if immaterial. Distinct from inventory.
by Small Business Accounting Software | Oct 7, 2025 | Terminologies
The master set of accounts that consolidates all financial transactions of a business. It contains both balance sheet and income statement accounts. The G/L is the backbone of financial reporting.
