by Small Business Accounting Software | Aug 6, 2026 | Accounting Proram, Terminologies
A feature that lets users click on summary figures to see detailed transactions behind them. For example, from “Total Sales” down to individual invoices. Enhances transparency and understanding of numbers.
by Small Business Accounting Software | Aug 3, 2026 | Accounting Proram, Terminologies
Refers to accounting software hosted online rather than installed locally. It allows access from any device with internet connectivity. Cloud systems often include automatic backups and updates for convenience.
by Small Business Accounting Software | Aug 2, 2026 | Chart of Accounts, Terminologies
Money owed to suppliers for goods or services received but not yet paid. It is typically short-term and settled within the operating cycle. Proper management ensures supplier trust and cash flow balance.
by Small Business Accounting Software | Aug 1, 2026 | Terminologies
An indirect tax charged on goods and services at the point of sale. The business collects it on behalf of the government. Must be reported and remitted regularly.
by Small Business Accounting Software | Aug 1, 2026 | Terminologies
Financial reports of a parent company and its subsidiaries presented as one entity. Eliminates intercompany transactions to avoid double-counting. Required when control exists over subsidiaries.
by Small Business Accounting Software | Jul 29, 2026 | Terminologies
The difference between sales revenue and variable costs. It contributes toward covering fixed costs and generating profit. Used in cost-volume-profit analysis.
