by Small Business Accounting Software | Jan 27, 2026 | Assets, Chart of Accounts, Terminologies
Cash or personal resources transferred by the owner to fund business operations. Recorded as a business asset but increases Owner’s Capital simultaneously. Important to separate from personal accounts for legal and tax purposes.
by Small Business Accounting Software | Jan 24, 2026 | Assets, Chart of Accounts, Terminologies
Fixed assets such as shelving, display racks, cash registers, and POS systems. They support day-to-day retail operations. Depreciated over their useful life.
by Small Business Accounting Software | Jan 23, 2026 | Accounting Proram, Terminologies
Automatic checks that prevent incorrect entries, such as entering negative inventory or duplicate invoices. Improves accuracy by enforcing rules. Helps avoid costly mistakes.
by Small Business Accounting Software | Jan 20, 2026 | Assets, Chart of Accounts, Terminologies
Funds held as security for future services, leases, or utilities. For example, a rental security deposit recorded as an asset until refunded or applied. It provides assurance that obligations will be met.
by Small Business Accounting Software | Jan 19, 2026 | Chart of Accounts, Terminologies
Represents obligations to provide goods or services for gift cards sold but not yet redeemed. It remains a liability until redemption occurs. Important for revenue recognition compliance.
