by Small Business Accounting Software | May 25, 2026 | Terminologies
A profitability ratio that shows how effectively assets generate net income. Calculated as Net Income ÷ Total Assets. Indicates efficiency in using resources.
by Small Business Accounting Software | May 22, 2026 | Chart of Accounts, Expenses, Terminologies
Covers landline, mobile, and data communication costs. Increasingly includes VoIP and internet-based communications. Supports day-to-day operations.
by Small Business Accounting Software | May 21, 2026 | Chart of Accounts, Terminologies
Formal written promises to pay lenders, often with interest, within a set timeframe. They may be short-term or long-term depending on maturity. Notes provide structured financing.
by Small Business Accounting Software | May 15, 2026 | Chart of Accounts, Expenses, Terminologies
Costs of transporting goods to customers or between facilities. Essential in supply chain-heavy industries. May be charged to customers or absorbed by the company.
by Small Business Accounting Software | May 15, 2026 | Accounting Proram, Terminologies
Predefined instructions within the system that categorize or process transactions automatically. For example, classifying recurring utility bills. Reduces errors and saves time in repetitive bookkeeping tasks.
by Small Business Accounting Software | May 14, 2026 | Chart of Accounts, Expenses, Terminologies
A catch-all category for minor expenses that don’t fit elsewhere. Should be monitored to avoid misuse. Best practice is to keep this account minimal.
