by Small Business Accounting Software | May 2, 2026 | Accounting Proram, Terminologies
The process of matching accounting records with bank statements or other external records. Software often automates this by suggesting matches between transactions. Ensures accuracy in reported balances.
by Small Business Accounting Software | Apr 28, 2026 | Terminologies
A tax withheld at source from salaries, dividends, or contractor payments. Businesses act as collection agents for tax authorities. Failure to remit can cause legal penalties.
by Small Business Accounting Software | Apr 28, 2026 | Accounting Proram, Terminologies
A report that categorizes receivables or payables based on how long they have been outstanding (e.g., 30, 60, 90 days). Helps identify overdue accounts. Critical for managing collections and credit control.
by Small Business Accounting Software | Apr 26, 2026 | Chart of Accounts, Terminologies
Similar to unearned revenue, but often used for long-term obligations like software subscriptions or annual service contracts. Recognized gradually as services are performed. Ensures revenue recognition compliance.
by Small Business Accounting Software | Apr 25, 2026 | Chart of Accounts, Terminologies
Debt securities issued by a company to raise capital. They usually have fixed interest rates and maturity dates. Often used for large-scale financing.
