Expense accounts are an integral part of the double-entry system of accounting and are used to record various costs businesses incur. The way expense accounts work is relatively simple, but to use ...

An expense account sounds simple enough, but it actually means two different things in business. First, it’s the process that lets employees pay for work expenses and get reimbursed by their company.

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”).

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 ...

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 ...

Discover how accounts payable function as short-term liabilities, not expenses, and learn how they impact a company's financial position and cash flow management.

What every business should know about expense accounts An expense account sounds simple enough, but it actually means two different things in business. First, it’s the process that lets employees pay ...