Businesses make advance payments for a variety of different expenses. Any expense that is paid in advance of actually receiving the benefit of the payment is considered a prepaid expense for ...

Discover how accounts payable function as short-term liabilities, not expenses, and learn how they impact a company's ...

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.

As a small business owner you want to project your best professional image. This includes your financial statements. A negative number in an expense account -- indicating income rather than expense -- ...