by pay@crispino.us | Jul 15, 2026 | Accounting Proram, Terminologies
A system-generated record of all actions performed within the software, such as who logged in, what was changed, and when. It ensures accountability and supports compliance. Audit logs are vital for detecting unauthorized activities. by pay@crispino.us | Jul 14, 2026 | Accounting Proram, Terminologies
Combines financial results from different entities into a single set of reports. Eliminates intercompany transactions for accuracy. Used by companies with subsidiaries or multiple divisions. by pay@crispino.us | Jul 14, 2026 | Other Key Terms, Terminologies
Supporting documents accountants prepare during audits or reporting. They include schedules, reconciliations, and analysis used to verify accounts. Provide evidence and reference for conclusions. by pay@crispino.us | Jul 11, 2026 | Assets, Chart of Accounts, Terminologies
The cost of obtaining the right to operate under a franchise brand. Provides access to trademarks, business models, and marketing support. Amortized over the agreement term. by pay@crispino.us | Jul 8, 2026 | Chart of Accounts, Expenses, Terminologies
Fees incurred for bank services such as account maintenance, wire transfers, or overdrafts. Usually small but recurring. Essential for financial accuracy. by pay@crispino.us | Jul 6, 2026 | Chart of Accounts, Expenses, Terminologies
Shipping costs incurred to bring purchased goods into the business. Included in inventory cost until sold. Helps establish accurate cost of goods.