by Small Business Accounting Software | Jun 1, 2026 | Terminologies
A levy imposed on net income earned by businesses and individuals. It reduces profitability but funds government operations. Requires accurate calculation and timely reporting.
by Small Business Accounting Software | May 31, 2026 | Accounting Proram, Terminologies
Access to core accounting features via mobile apps. Users can issue invoices, approve expenses, or check balances on the go. Increases flexibility for business owners.
by Small Business Accounting Software | May 31, 2026 | Terminologies
Expenses that change in direct proportion to sales or production, such as raw materials or commissions. Key for understanding contribution margins. Helps in pricing decisions.
by Small Business Accounting Software | May 28, 2026 | Assets, Chart of Accounts, Terminologies
Non-physical assets like patents, trademarks, copyrights, and goodwill. They provide future economic benefits but lack physical substance. They are amortized rather than depreciated.
by Small Business Accounting Software | May 27, 2026 | Chart of Accounts, Terminologies
Cumulative net income not distributed as dividends but reinvested in the business. It grows with profits and shrinks with losses or dividend payments. Critical for long-term financing.
by Small Business Accounting Software | May 25, 2026 | Chart of Accounts, Terminologies
Potential obligations that depend on future events, such as lawsuits or guarantees. Recorded if probable and estimable. Disclosed in notes if uncertain.
