Expense accounts are an integral part of the double-entry system of accounting and are used to record various costs businesses incur. The way expense accounts work is relatively simple, but to use ...

At the end of every accounting period, you must close the balances in your sales and expense accounts. You open the income summary account to hold these account balances during the closing process.

Internal Revenue Commissioner Mortimer Caplin, a onetime amateur boxer who has been taking some quick professional jabs at expense-account living, last week issued his “final” rules on tax deductions ...

Now that you have a better sense of fixed vs variable expenses, how can we account for these in our budget? Below, we’ve provided a sample table to do just that. To keep track of your total expenses, ...

Forbes contributors publish independent expert analyses and insights. I cover the world’s best hotels, restaurants and wine. Perks—from signing bonuses and annual incentives to housing allowances and ...

SECAUCUS, N.J. -- A new survey conducted by the quarterly travel-management magazine, T&E, and NTM Research found that expense account padding is done by nearly one-third (30%) of all business ...