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.

While it seems contradictory that assets and expenses can both have debit balances, the explanation is quite logical when one understands the basics of accounting. Modern-day accounting theory is ...

Without expense accounts, important purchases can get lost in general spending, making it impossible to understand true operational costs. When you can see that marketing spent $50,000 last quarter on ...

Understanding expense accounts matters whether you're running a small business, managing a team, or handling company finances. Business owners use them to monitor where money goes and stick to budgets ...