by Small Business Accounting Software | Sep 11, 2025 | Chart of Accounts, Terminologies
Represents ownership interest in a corporation. Issued shares grant voting rights and residual claim on profits. Equity increases when stock is sold to investors.
by Small Business Accounting Software | Sep 9, 2025 | Chart of Accounts, Expenses, Terminologies
Costs to keep equipment, property, or vehicles operational. Unlike improvements, repairs are expensed immediately. Critical for sustaining operations.
by Small Business Accounting Software | Sep 8, 2025 | Assets, Chart of Accounts, Terminologies
Consumable items used in daily operations, like paper, ink, or cleaning products. Supplies are assets until they are consumed. At usage, they are expensed.
by Small Business Accounting Software | Sep 7, 2025 | Chart of Accounts, Expenses, Terminologies
Covers fuel, repairs, and upkeep of company-owned vehicles. Essential for logistics and transportation-heavy businesses. Requires mileage tracking for compliance.
by Small Business Accounting Software | Sep 5, 2025 | Chart of Accounts, Expenses, Terminologies
Hourly labor costs separate from salaried staff. Found in manufacturing, retail, or hospitality. Often more variable than salaries.
