Expense accounts

Definition:

These are the accounts you use to keep track of the costs of doing business: where your money goes. Examples are advertising, payroll taxes, and wages. Expenses are income statement accounts.

Related terms:

Loss

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Savings Estimator

Remember on payday to pay yourself first, you might need it sometime in the future.

Credit card

How long it will take to pay off your credit card and how much interest you will pay by minimum payment

Loan reduction

It will help you work out how quickly you can pay off a loan if you increase your monthly repayments

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Term: Accounting -> Expense accounts