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.
by Small Business Accounting Software | Sep 23, 2025 | Assets, Chart of Accounts, Terminologies
Represents the cost of real estate owned by the business. Unlike other assets, land is not depreciated because it does not wear out. It retains or increases value over time.
