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 | Mar 3, 2026 | Accounting Proram, Terminologies
A system-generated record of all actions performed within the software, such as who logged in, what was changed, and when. It ensures accountability and supports compliance. Audit logs are vital for detecting unauthorized activities.
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 24, 2026 | Terminologies
The use of borrowed funds to increase potential returns. While leverage can magnify profits, it also increases risk. Commonly assessed through debt ratios.
