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 | Nov 17, 2025 | Key Accounting Concepts, Terminologies
A principle stating that only information significant enough to influence decisions needs to be reported. Minor errors or omissions may be disregarded. Materiality depends on both size and context.
by pay@crispino.us | Nov 15, 2025 | Chart of Accounts, Expenses, Terminologies
Costs of transporting goods to customers or between facilities. Essential in supply chain-heavy industries. May be charged to customers or absorbed by the company.
by pay@crispino.us | Nov 11, 2025 | Accounting Proram, Terminologies
Connecting the accounting system with other business tools like payroll, inventory, or CRM platforms. Integration reduces duplicate data entry and keeps information synchronized. Supports a unified workflow.
by pay@crispino.us | Nov 10, 2025 | Other Key Terms, Terminologies
The master set of accounts that consolidates all financial transactions of a business. It contains both balance sheet and income statement accounts. The G/L is the backbone of financial reporting.
by pay@crispino.us | Nov 8, 2025 | Chart of Accounts, Equity, Terminologies
Company’s own shares that were repurchased from shareholders. It reduces equity since these shares are no longer outstanding. Often used for stock compensation or market stabilization.
