by Small Business Accounting Software | Apr 6, 2026 | Chart of Accounts, Expenses, Terminologies
Covers legal advice, representation, and filing fees. Critical for risk management. May spike during disputes or acquisitions.
by Small Business Accounting Software | Mar 30, 2026 | Assets, Chart of Accounts, Terminologies
Machinery, computers, and other tangible assets used in operations. Equipment is depreciated over its lifespan. Proper categorization distinguishes it from supplies.
by Small Business Accounting Software | Mar 28, 2026 | Chart of Accounts, Terminologies
Revenue from leasing company-owned property or equipment. Can be steady recurring income. Recognized when rent is due.
by Small Business Accounting Software | Mar 27, 2026 | Chart of Accounts, Terminologies
Income earned from providing professional advice or specialized services. Recognized when the service is rendered. Common for service-based businesses like law, IT, and accounting.
by Small Business Accounting Software | Mar 26, 2026 | Assets, Chart of Accounts, Terminologies
Written promises from customers or others to pay a definite amount at a specific future date. Notes may earn interest, making them slightly different from accounts receivable. They are enforceable legal agreements.
by Small Business Accounting Software | Mar 25, 2026 | Chart of Accounts, Expenses, Terminologies
Costs for business permits, registration, or property taxes. Necessary to operate legally. Recurs annually or periodically.
