by pay@crispino.us | Oct 16, 2025 | Accounting Proram, Terminologies
A section of the software dedicated to tracking customer invoices, due dates, and collections. It automates reminders and aging reports. Helps businesses manage cash inflows effectively. by pay@crispino.us | Oct 14, 2025 | Assets, Chart of Accounts, Terminologies
When the owner lends money to the business with the intention of repayment, rather than contributing capital. Classified as a liability for the business until paid back. Keeps a distinction between investment and temporary financial support. by pay@crispino.us | Oct 13, 2025 | Accounting Proram, Terminologies
Software installed directly on a company’s local computers or servers. Provides more direct control over data and security but requires manual updates and maintenance. Common for businesses that prefer internal hosting. by pay@crispino.us | Oct 12, 2025 | Cost & Managerial Accounting, Terminologies
Expenses directly tied to producing goods or services, such as raw materials or direct labor. Easily traceable to a specific product or job. Essential in job costing. by pay@crispino.us | Oct 10, 2025 | Accounting Proram, Terminologies
Automatic checks that prevent incorrect entries, such as entering negative inventory or duplicate invoices. Improves accuracy by enforcing rules. Helps avoid costly mistakes. by pay@crispino.us | Oct 7, 2025 | Assets, Chart of Accounts, Terminologies
Represents money available in currency and bank accounts. This account reflects the most liquid asset that a business can immediately use to settle obligations or invest. It is constantly updated as deposits and withdrawals occur. by pay@crispino.us | Oct 7, 2025 | Cost & Managerial Accounting, Terminologies
Expenses that remain constant regardless of production volume, such as rent or salaries. They do not vary with activity levels. Important for break-even analysis. by pay@crispino.us | Oct 3, 2025 | Accounting Proram, Terminologies
Automated approval chains for transactions, such as expense reports or vendor bills. Ensures compliance with company policies. Saves time and enforces accountability. by pay@crispino.us | Oct 2, 2025 | Accounting Proram, Terminologies
A security feature requiring users to verify identity through two methods, such as a password and a mobile code. This prevents unauthorized logins even if credentials are stolen. Essential for safeguarding sensitive financial data. by pay@crispino.us | Oct 2, 2025 | Key Accounting Concepts, Terminologies
Records revenues and expenses only when cash is received or paid. Simpler than accrual accounting but less accurate in reflecting true performance. Common in small businesses and sole proprietorships.