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 ...

In accrual accounting, an expense is recognized when the business becomes liable for it, not when it settles the account. A company may pay some expenses, such as utility bills, in arrears and others, ...

An expense account sounds simple enough, but it actually means two different things in business. First, it's the process that lets employees pay for work expenses and get reimbursed by their company.

Expense accounts, also called expense allowances, are plans under which companies reimburse employees for business-related expenses. These expenses include travel, entertainment, gifts, and other ...

Everyone hates expense reports. For one thing, regardless of how an individual tracks their expenses, there’s no “standard” way to report them. If their organization reimburses them, it probably has ...

The accounting cycle tracks a transaction until it’s added to your company’s financial statement. Follow this eight-step ...