by How To Set Up | Jan 6, 2026 | Uncategorized
Recognizes revenues when earned and expenses when incurred, regardless of cash movement. This method provides a more accurate picture of financial performance. Required by most accounting standards.
by How To Set Up | Jan 6, 2026 | Uncategorized
Assets held for more than a year, such as stocks, bonds, or real estate. They are not intended for quick liquidation. Used for strategic growth or income generation.
by How To Set Up | Jan 5, 2026 | Uncategorized
Technology that scans and extracts data from receipts, invoices, or documents into the system automatically. Reduces manual entry. Enhances efficiency in expense management.
by How To Set Up | Dec 30, 2025 | Uncategorized
Requires a business to use the same accounting methods from period to period. This allows for comparability across time. Any changes must be disclosed and justified.
by How To Set Up | Dec 30, 2025 | Uncategorized
The cost of items like pens, paper, and printer cartridges consumed during operations. Recorded when used, not purchased if immaterial. Distinct from inventory.
