by Online Tutorial & Training Guide | Feb 3, 2026 | Assets, Chart of Accounts, Terminologies
Cash or personal resources transferred by the owner to fund business operations. Recorded as a business asset but increases Owner’s Capital simultaneously. Important to separate from personal accounts for legal and tax purposes.
by Online Tutorial & Training Guide | Jan 29, 2026 | Chart of Accounts, Expenses, Terminologies
Covers fuel, repairs, and upkeep of company-owned vehicles. Essential for logistics and transportation-heavy businesses. Requires mileage tracking for compliance.
by Online Tutorial & Training Guide | Jan 27, 2026 | Assets, Chart of Accounts, Terminologies
Machinery, computers, and other tangible assets used in operations. Equipment is depreciated over its lifespan. Proper categorization distinguishes it from supplies.
by Online Tutorial & Training Guide | Jan 24, 2026 | Assets, Chart of Accounts, Terminologies
Company-owned cars, trucks, or vans used for deliveries or travel. These assets are depreciated over their useful life. They are tracked separately for tax and operational purposes.
by Online Tutorial & Training Guide | Jan 24, 2026 | Chart of Accounts, Liabilities, Terminologies
Interest accrued on loans or notes but not yet paid. It is a short-term liability until settlement. This keeps financing costs accurately recorded.
by Online Tutorial & Training Guide | Jan 20, 2026 | Chart of Accounts, Liabilities, Terminologies
Represents amounts owed to government agencies for income, sales, or other taxes. Accurate calculation and timely payment prevent penalties. Reported as current liabilities.
