Expense accounts are an integral part of the double-entry system of accounting and are used to record various costs businesses incur. The way expense accounts work is relatively simple, but to use ...

Put simply, overhead costs are any and all costs not directly associated with generating profit for a firm. That is not to say overhead costs are not important or necessary. It is just that, on their ...

If you own a small business, recording office supplies as business expenses is something you should keep track of. Careful office accounting procedures and record-keeping are important so you can ...

The following general ledger/commitment items are used to record expenses as category 2 and 3 of the Statement of Financial Activity (SoFA) report. The categories are outlined alphabetically. Each ...

Tracking your company’s spending is essential for maintaining accurate financial records. One financial accounting method businesses use is the payroll journal entry. Payroll journal entries record ...