by Small Business Accounting Software | Jun 12, 2026 | Terminologies
Expenses directly tied to producing goods or services, such as raw materials or direct labor. Easily traceable to a specific product or job. Essential in job costing.
by Small Business Accounting Software | Jun 10, 2026 | Chart of Accounts, Terminologies
Sometimes used to track running balances of contributions, withdrawals, and allocations for ease of monitoring. It provides a clear view of how much the owner has taken out or put in during a period. At year-end, balances typically roll into the capital account.
by Small Business Accounting Software | Jun 9, 2026 | Chart of Accounts, Expenses, Terminologies
Payments to outside contractors or freelancers who provide part of a contracted service. Common in construction, design, and professional services. Considered a direct operating expense.
by Small Business Accounting Software | Jun 3, 2026 | Assets, Chart of Accounts, Terminologies
Office desks, chairs, cabinets, and fixtures used in daily operations. Like equipment, they are depreciated. They support operational efficiency.
by Small Business Accounting Software | Jun 2, 2026 | Accounting Proram, Terminologies
The main screen that provides a quick overview of financial performance, such as cash balance, invoices, expenses, and recent transactions. Dashboards give real-time insights to help users make decisions without running full reports. They act as the control center of...
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.
