by Small Business Accounting Software | Sep 30, 2025 | Accounting Proram, Terminologies
A document issued to correct or reduce an existing invoice, such as when goods are returned or an error is found. The software applies credit notes against outstanding balances. Helps maintain accurate receivables.
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.
by Small Business Accounting Software | Sep 27, 2025 | Chart of Accounts, Terminologies
Represents amounts investors pay above par value when purchasing stock. It reflects extra equity contributions. Often arises in public offerings.
by Small Business Accounting Software | Sep 26, 2025 | Terminologies
A financial statement that reports a company’s assets, liabilities, and equity at a specific point in time. It provides a snapshot of financial health and solvency. The balance sheet answers, “What do we own, and how is it financed?”
by Small Business Accounting Software | Sep 26, 2025 | Chart of Accounts, Terminologies
Earnings from investments, bank deposits, or loans. Provides passive income outside main operations. Recorded when earned, not necessarily received.
by Small Business Accounting Software | Sep 26, 2025 | Chart of Accounts, Expenses, Terminologies
Costs for memberships, professional subscriptions, or publications. Helps employees stay informed or connected. Usually minor but useful.
