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.
