by pay@crispino.us | Dec 14, 2025 | Assets, Chart of Accounts, Terminologies
A small fund kept on hand for minor or incidental expenses like office supplies or local travel. It avoids the need for frequent check issuance or credit card use. The fund is replenished periodically with documentation.
by pay@crispino.us | Nov 29, 2025 | Assets, Chart of Accounts, Terminologies
Physical structures owned by the company used for operations. Buildings are depreciated over their useful life. Maintenance is expensed, while improvements are capitalized.
by pay@crispino.us | Nov 17, 2025 | Assets, Chart of Accounts, Terminologies
Funds held as security for future services, leases, or utilities. For example, a rental security deposit recorded as an asset until refunded or applied. It provides assurance that obligations will be met.
by pay@crispino.us | Oct 22, 2025 | Assets, Chart of Accounts, Terminologies
Represents the cost of real estate owned by the business. Unlike other assets, land is not depreciated because it does not wear out. It retains or increases value over time.
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 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.
