by Small Business Accounting Software | Mar 11, 2026 | Assets, Chart of Accounts, Terminologies
Cash discounts taken for early payment of supplier invoices. Reduces the overall cost of purchases. An incentive to manage cash efficiently.
by Small Business Accounting Software | Feb 26, 2026 | Assets, Chart of Accounts, Terminologies
Shares, bonds, or other instruments intended to be held beyond one year. Provides income and diversification for excess funds. Classified as noncurrent assets.
by Small Business Accounting Software | Feb 26, 2026 | Chart of Accounts, Expenses, Terminologies
Compensation paid to employees for their services. Usually the largest operating expense for many businesses. Includes base pay but excludes benefits.
by Small Business Accounting Software | Feb 25, 2026 | Assets, Chart of Accounts, Terminologies
Money owed to the company by customers for goods or services delivered on credit. It reflects short-term claims expected to be collected within the business cycle. Managing A/R ensures strong cash flow.
by Small Business Accounting Software | Feb 21, 2026 | Chart of Accounts, Terminologies
Revenue earned by granting franchise rights. May include upfront fees and ongoing royalties. A key revenue account for franchisors.
by Small Business Accounting Software | Feb 21, 2026 | Assets, Chart of Accounts, Terminologies
A catch-all category for assets that do not fit neatly into other classifications, such as deposits or long-term advances. Often less liquid or unusual in nature. Used sparingly to avoid clutter.
