Expense accounts are an integral part of the double-entry system of accounting and are used to record various costs businesses incur. The way expense accounts work is relatively simple, but to use ...

An expense account sounds simple enough, but it actually means two different things in business. First, it's the process that lets employees pay for work expenses and get reimbursed by their company.

Northwestern uses chart string-based systems to manage financial transactions, in which all expenses are classified by five-digit expense account codes (e.g. – 73475 is “Lab Supplies and Hardware”).

Accounting gives a business a way to keep track of its liabilities and expenses. In terms of liability vs. expense accounts, a liability refers to a financial obligation, or upcoming duty to pay. An ...

Rajeev Dhir is a writer with 10+ years of experience as a journalist with a background in broadcast, print, and digital newsrooms. Suzanne is a content marketer, writer, and fact-checker. She holds a ...

Expense accounts, also called expense allowances, are plans under which companies reimburse employees for business-related expenses. These expenses include travel, entertainment, gifts, and other ...

An expense account sounds simple enough, but it actually means two different things in business. First, it’s the process that lets employees pay for work expenses and get reimbursed by their company.

What every business should know about expense accounts An expense account sounds simple enough, but it actually means two different things in business. First, it’s the process that lets employees pay ...