A chart of accounts helps organize your business’s transactions to reveal where money is coming from and going to. Many, or all, of the products featured on this page are from our advertising partners ...

Accounting is a foundational process for every business, no matter how big or small. Learn what accounting is, why it matters and how to make it work for you. Keeping accurate financial records is the ...

Suppose you buy a major asset like a new piece of machinery. Under standard accounting rules, you cannot write off the cost of the machinery in the year you incur the expense. Rather, you have to ...

Business bookkeeping gets very complex, with divisions and subsidiaries requiring their own set of accounts. When the business accounting records are established, every account is titled and assigned ...

Unit of account is the thing that measures the value of goods and services. It’s an essential function for something to be [or become?] money. In simple terms, it is a standard measure of value, a ...

A unique number assigned to users that identifies them to the entity establishing a relationship of some kind. A bank account number and credit card number are common examples. An account number can ...