by How To Set Up | Jan 13, 2026 | Uncategorized
A system-generated record of all actions performed within the software, such as who logged in, what was changed, and when. It ensures accountability and supports compliance. Audit logs are vital for detecting unauthorized activities.
by How To Set Up | Jan 12, 2026 | Uncategorized
Potential obligations that depend on future events, such as lawsuits or guarantees. Recorded if probable and estimable. Disclosed in notes if uncertain.
by How To Set Up | Jan 9, 2026 | Uncategorized
Money received before services are performed or goods are delivered. Treated as a liability until obligations are fulfilled. Common with subscriptions and advance bookings.
by How To Set Up | Jan 9, 2026 | Uncategorized
A list of all ledger accounts and their balances at a given time. It ensures total debits equal total credits. Used as a preliminary check before preparing financial statements.
by How To Set Up | Jan 8, 2026 | Uncategorized
Covers consumables or materials used to deliver services (e.g., cleaning supplies for janitorial work, parts for repair services). Unlike merchandise, they are not resold. Recorded as a direct cost of service delivery.
