by How To Set Up | Dec 15, 2025 | Uncategorized
The systematic allocation of an asset’s cost over its useful life. Reflects wear, tear, and obsolescence. Recorded periodically to match expense with revenue.
by How To Set Up | Dec 14, 2025 | Uncategorized
A tool that allows businesses to prepare formal price estimates or quotes for customers. Once accepted, these can often be converted into invoices automatically. Speeds up sales-to-billing processes.
by How To Set Up | Dec 13, 2025 | Uncategorized
Represents taxes on net income owed to the government. Calculated based on taxable income, not accounting profit. A standard line item on income statements.
by How To Set Up | Dec 11, 2025 | Uncategorized
A temporary account used to track goods bought for resale. At the end of the period, it adjusts into inventory and COGS. Helps monitor supplier activity and inventory turnover.
by How To Set Up | Dec 9, 2025 | Uncategorized
Tracks gains and losses not included in net income, such as foreign currency adjustments or unrealized securities gains. Appears in equity section. Reflects broader changes in net worth.
