by pay@crispino.us | Mar 10, 2026 | Chart of Accounts, Equity, Terminologies
Tracks additional funds or assets contributed by the owner during the business’s operation (beyond initial capital). It highlights the reinvestment made by the owner to support growth. This account feeds into Owner’s Capital.
by pay@crispino.us | Mar 10, 2026 | Assets, Chart of Accounts, Terminologies
Cash discounts taken for early payment of supplier invoices. Reduces the overall cost of purchases. An incentive to manage cash efficiently.
by pay@crispino.us | Mar 8, 2026 | Assets, Chart of Accounts, Terminologies
Office desks, chairs, cabinets, and fixtures used in daily operations. Like equipment, they are depreciated. They support operational efficiency.
by pay@crispino.us | Mar 7, 2026 | Assets, Chart of Accounts, Terminologies
A contra-asset account that records the total depreciation expense charged against fixed assets. It reduces the book value of assets over time. This reflects wear, tear, or obsolescence.
by pay@crispino.us | Mar 5, 2026 | Assets, Chart of Accounts, Terminologies
Company-owned cars, trucks, or vans used for deliveries or travel. These assets are depreciated over their useful life. They are tracked separately for tax and operational purposes.
