Learn what every business owner needs to know about financial accounting, accounting software and financial statements.

Put simply, overhead costs are any and all costs not directly associated with generating profit for a firm. That is not to say overhead costs are not important or necessary. It is just that, on their ...

The following general ledger/commitment items are used to record expenses as category 2 and 3 of the Statement of Financial Activity (SoFA) report. The categories are outlined alphabetically. Each ...

If you own a small business that offers group health insurance to employees, you likely pay a portion of the employee's premium while the employee pays the remainder. Each pay period, after making ...

In accrual accounting, an expense is recognized when the business becomes liable for it, not when it settles the account. A company may pay some expenses, such as utility bills, in arrears and others, ...

Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small ...