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 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 | Chart of Accounts, Terminologies
Fees earned from providing advisory or professional services. Often project-based or hourly. A common account for service-oriented businesses.
by Small Business Accounting Software | Aug 28, 2026 | Chart of Accounts, Terminologies
Expenses incurred but not yet paid, such as wages, utilities, or taxes. They ensure liabilities are recorded when incurred, not just when paid. This maintains accrual-based accuracy.
by Small Business Accounting Software | Aug 27, 2026 | Chart of Accounts, Expenses, Terminologies
Payments for services from external experts like lawyers, accountants, or consultants. Recognized when services are rendered. Often project-specific.
by Small Business Accounting Software | Aug 19, 2026 | Chart of Accounts, Terminologies
Income from one-time projects, often used in construction, marketing, or event management services. Each project may be tracked separately for job costing. Offers insights into project profitability.
