When you use the accounting software QuickBooks, you can set up a list of accounts into different categories such as liabilities, assets, expenses and income. When you want to review information about ...

When a company purchases an asset it does not expect the asset to retain its current value forever. Instead, the company expects the asset to depreciate, or loose some of its value over time.

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 ...

Northwestern uses chart string-based systems to manage financial transactions, in which all expenses are classified by five-digit expense account codes (e.g. – 73475 is “Lab Supplies and Hardware”).

Deferred rent expense adjusts for uneven payments across a lease term. Monthly financials use a straight-line rent expense, averaging total lease payments. Use of deferred rent accounts balances ...

A new online submission form is now available to assist those who travel on official University-related business with the travel expense reporting process. Last year, Purdue Travel announced that ...