by pay@crispino.us | Feb 25, 2026 | Cost & Managerial Accounting, Terminologies
Indirect costs that cannot be directly traced to products or services, such as utilities or administrative salaries. Overhead is allocated to ensure accurate costing. Helps in determining product profitability.
by pay@crispino.us | Feb 24, 2026 | Cost & Managerial Accounting, Terminologies
Expenses that change in direct proportion to sales or production, such as raw materials or commissions. Key for understanding contribution margins. Helps in pricing decisions.
by pay@crispino.us | Feb 23, 2026 | Chart of Accounts, Equity, Terminologies
Withdrawals made by the owner for personal use. It reduces the owner’s equity. Common in sole proprietorships or partnerships.
by pay@crispino.us | Feb 21, 2026 | Accounting Proram, Terminologies
A preliminary bill of sale sent before delivery of goods or services. It outlines expected charges but is not yet a legally binding invoice. Helps customers prepare payment in advance.
by pay@crispino.us | Feb 20, 2026 | Accounting Proram, Terminologies
An automated link between a business’s bank account and the accounting system. It imports transactions in real time, reducing manual data entry. This improves accuracy and speeds up reconciliations.
by pay@crispino.us | Feb 20, 2026 | Chart of Accounts, Expenses, Terminologies
Reductions in sales prices given to customers, usually for early payment or promotions. Recorded separately from gross sales to show net sales. Useful for analyzing pricing strategies.
