Keeping accurate accounting records is an important part of running a successful small business. In addition to protecting your business in case of an audit, organized records help provide a picture ...

Overhead expenses are any costs that aren't directly associated with generating a profit. Although they don't contribute to revenue, they are still important and necessary. Companies use cost ...

Sage Simply Accounting is an accounting program that is designed to help businesses manage their accounting needs. Although it is a robust application with many features, it is also user-friendly, ...

Andrew Bloomenthal has 20+ years of editorial experience as a financial journalist and as a financial services marketing writer. Chip Stapleton is a Series 7 and Series 66 license holder, CFA Level 1 ...

Most investors are familiar with financial accounting. It is the financial reports and standards we use to review a company's financial performance each quarter and year. Inside the company, though, ...

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 ...

For decades, employee expense reporting has followed a familiar path: employees submit reports, managers approve them and the accounting department performs a final review. This workflow made sense ...

Accounting is vital to a business’s financial hygiene; here’s everything entrepreneurs need to know about it. Many, or all, of the products featured on this page are from our advertising partners who ...

Selling and administrative expenses include costs like marketing and rent, not tied to product production. Managers use these expenses to tailor company strategies and optimize operations. Frequent ...