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 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 5, 2025 | Chart of Accounts, Terminologies
Estimated costs associated with product warranties. Recorded when sales occur, based on historical data. It reflects obligations to repair or replace defective products.
by Small Business Accounting Software | Oct 2, 2025 | Chart of Accounts, Terminologies
Revenue from long-term service agreements, such as annual maintenance or IT support. Recognized gradually as services are performed. Provides a stable income stream.
by Small Business Accounting Software | Sep 27, 2025 | Chart of Accounts, Terminologies
Company’s own shares that were repurchased from shareholders. It reduces equity since these shares are no longer outstanding. Often used for stock compensation or market stabilization.
