Expense, Expense Account




Expense, Expense Account :




Expense : Refers to the amount spent in the everyday operation or functioning of the business, such as payroll, materials or supplies : for taxation purposes, indicative of any cost that is written off or is deemed to be irrecoverable in the current period : all the non-capitalised costs allotted to ending inventory or are deferred or delayed in some other way



Expense Account : Refers to the ledger accounts in which the expenses or charges to the company that have been settled by paying cash or incurring a debt are recorded : Recording the costs, often those incurred by salespersons or company executives in travelling and entertainment




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