by pay@crispino.us | Aug 11, 2026 | Chart of Accounts, Income, Terminologies
Fees earned from providing advisory or professional services. Often project-based or hourly. A common account for service-oriented businesses.
by pay@crispino.us | Aug 9, 2026 | Chart of Accounts, Expenses, Terminologies
The systematic allocation of an asset’s cost over its useful life. Reflects wear, tear, and obsolescence. Recorded periodically to match expense with revenue.
by pay@crispino.us | Aug 8, 2026 | Assets, Chart of Accounts, Terminologies
Fixed assets such as shelving, display racks, cash registers, and POS systems. They support day-to-day retail operations. Depreciated over their useful life.
by pay@crispino.us | Aug 1, 2026 | Chart of Accounts, Expenses, Terminologies
Tracks personal expenses mistakenly or intentionally paid from business funds (e.g., personal groceries, vacations). In accounting, these are recorded separately for clarity, then reclassified as Owner’s Drawings. Ensures accurate tax reporting.
by pay@crispino.us | Jul 24, 2026 | Chart of Accounts, Expenses, Terminologies
Costs to develop new products, services, or processes. Often capital-intensive but critical for innovation. May be expensed immediately or amortized depending on regulations.
by pay@crispino.us | Jul 17, 2026 | Chart of Accounts, Liabilities, Terminologies
Debt securities issued by a company to raise capital. They usually have fixed interest rates and maturity dates. Often used for large-scale financing.
