Financial Ops World

The BILL Spend & Expense Approach to Making Expense Management Easy

Accounting Department

OCTOBER 10, 2023

When running a business, keeping track of expenses can be a daunting task. From petty cash expenses to vendor payments, you need to ensure every penny spent is accounted for. That's where expense reports come in.

Petty cash

Petty cash Billing Expense Reports Accounting

IFRS revenue and expenses jump 41%

Accounting Today

APRIL 29, 2024

The IFRS Foundation attributed the increase in revenue and expenses to consolidated operations in its 2023 annual report.

Accounting

Accounting Accounting

R&D expensing gets another chance

Accounting Today

FEBRUARY 28, 2024

The ability to write off research and development expenses in the first year would be revived if the Senate ever manages to pass the Tax Relief for American Families and Workers Act.

Tax

Tax Corporation Tax

Webinars

Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

MORE WEBINARS

IRS: General health expenses aren't 'medical care'

Accounting Today

MARCH 8, 2024

Some companies are misrepresenting when food and wellness expenses can be paid for by FSAs, HSAs and other health spending plans.

Tax

Global Accounting Principles and Commission Capitalization

Speaker: Ryan Dillard, Chief of Staff Director at CBIZ ARC Consulting LLC; Kelly Hicks, Global Controller at Airbase

Their discussion focuses on how to determine the right commission expense policy and how to set up the necessary amortization schedules. They also discuss other expenses that could be considered for capitalization.

Accounting

Reporting expenses by function

Accounting Tools

MAY 9, 2024

What Does it Mean to Report Expenses by Function? When expenses are reported by function, they are being reported by the type of activity being conducted. Reporting expenses by function tends to result in a relatively small number of expense line items, since there are not many functions in an organization.

Financial Statements

Financial Statements Expense Reports Accounting Accounting

Accrued Expenses: Explained

Accounting Department

NOVEMBER 30, 2022

Accrued expenses, also known as accrued liabilities, refer to expenses that are recognized on the books before they have been paid. The expense is recorded during the period in which it is incurred, rather than when it is paid.

Accruals

Accruals Accounting Accounting

Balancing automation and compliance in expense reporting

Xero

AUGUST 29, 2023

For example, when it comes to managing expenses, manual expense tracking and paper-based processes can lead to errors, delays, and inefficiencies. On the other hand, automating every aspect of expense reporting without proper checks and balances can potentially result in compliance issues too.

Expense Reports

Expense Reports XERO Data Entry General Ledger

A New Way to Automate with Tipalti Expenses

Accounting Department

AUGUST 24, 2023

Tipalti Expenses offers a comprehensive and purpose-built solution to streamline and manage employee-initiated spending and reimbursements, all within a single, efficient system.

Accounting

Accounting Accounting

Operating expense ratio

Accounting Tools

MAY 10, 2024

What is the Operating Expense Ratio? The operating expense ratio is used in real estate to measure the proportion of expenses to revenues for an income-producing property. A property is more acceptable to an investor when the operating expense ratio is as low as possible.

Management Accounting

Management Accounting Tax Accounting Accounting

Expense definition

Accounting Tools

DECEMBER 23, 2023

What is an Expense? An expense is the cost incurred in order to generate revenue or obtain something. An alternative definition is that an expense is the reduction in value of an asset as it is used to generate revenue. Debit to expense, credit to accounts payable. Debit to expense, credit to asset account.

Accruals

Accruals Bookkeeping Accounts Payable Accounts Payable

Workforce Wednesday: QBO Expense Claims - Part 2

Insightful Accountant

APRIL 23, 2024

In this edition of Workforce Wednesday, Murph finishes up his two-part mini-series on QBO Expense claims by inviting employees to submit expenses, capturing and submitting expense claims, and reviewing and approving expense claims.

Bad debt expense definition

Accounting Tools

MAY 10, 2024

What is Bad Debt Expense? Bad debt expense is the amount of an account receivable that cannot be collected. To some degree, the amount of this expense reflects the credit choices made by the seller when extending credit to customers. Thus, the expense is directly linked to a specific invoice.

Collections

Collections Accounts Receivable Accounts Receivable Account Receivables

Expense Reconciliation: Step-by-Step Guide

Nanonets

MAY 7, 2024

Expense reconciliation is the process through which businesses track expenditures, identify anomalies, adhere to regulatory requirements, and maintain financial accuracy and integrity. What is Expense Reconciliation?

Reconciling

Reconciling Bank Reconciliation Financial Records Expense Reports

Bond interest expense definition

Accounting Tools

MAY 10, 2024

What is Bond Interest Expense? Bond interest expense is the aggregate interest expense incurred during a reporting period for an organization’s bonds payable. It includes the following types of expenses: Interest payments. This is the interest payments made by the issuer to bond holders.

Corporate Finance

Corporate Finance Accounting Accounting

Supporting services expenses

Accounting Tools

MAY 3, 2024

What are Supporting Services Expenses? Supporting services expenses are the management and fundraising expenses of a nonprofit entity. All other expenses are classified as program expenses. The main classifications of supporting services expenses are as follows: Fundraising expenses.

Auditing

Auditing Accounting Accounting

Employee Expense Report

Tipalti

FEBRUARY 21, 2024

Learn about the role of employee expense reports in business spend management and how to create an expense report of your own with our convenient template.

Expense Reports

Examples of operating expenses

Accounting Tools

FEBRUARY 12, 2024

What are Operating Expenses? Operating expenses are those expenditures that a business incurs to engage in activities not directly associated with the production of goods or services. These expenditures are the same as selling, general and administrative expenses. Compensation for production personnel.

Financial Statements

Financial Statements Tax Payroll Accounting

Rent expense definition

Accounting Tools

APRIL 25, 2024

What is Rent Expense? Rent expense is an account that lists the cost of occupying rental property during a reporting period. This expense is one of the larger expenses reported by most organizations, after the cost of goods sold and compensation expense.

Accruals

Accruals Expense Reports Accounting Accounting

Expense Reimbursement

Tipalti

JANUARY 30, 2024

Having a streamlined and efficient expense reimbursement process is critical for any business looking to maximize profits and not leave money on the table.

Noncash expense definition

Accounting Tools

NOVEMBER 24, 2023

What is a Noncash Expense? A noncash expense is an expense for which there is no related cash outflow in the same period. In addition, an accrued expense may be recorded for which the related cash expenditure is in the following period. An unrealized gain or unrealized loss is also considered a noncash expense.

Workforce Wednesday: QBO Expense Claims - Part 1

Insightful Accountant

APRIL 16, 2024

Murph takes you through the steps to set up QuickBooks Online Expense Claims. Next time he will look at the process for submitting them.

QuickBooks

Statement of functional expenses

Accounting Tools

MAY 2, 2024

What is the Statement of Functional Expenses? A statement of functional expenses is used to show how expenses are incurred for each functional area of a nonprofit entity. How Important is the Statement of Functional Expenses?

Financial Statements

Financial Statements Auditing Accounting Accounting

Deferred expense definition

Accounting Tools

OCTOBER 7, 2023

Related Courses Accountants’ Guidebook Bookkeeping Guidebook Cost Accounting Fundamentals What is a Deferred Expense? A deferred expense is a cost that has already been incurred, but which has not yet been consumed. Instead, charge these items to expense immediately, as long as there is no material effect on the financial statements.

Financial Statements

Financial Statements Cost Accounting Financial Reporting Accounting Software

Expense allocation definition

Accounting Tools

NOVEMBER 1, 2023

Related Courses Activity-Based Costing Cost Accounting Fundamental What is an Expense Allocation? An expense allocation occurs when indirect costs are assigned to cost objects. Expense allocations are required by several accounting frameworks in order to report the full cost of inventory in the financial statements.

Financial Statements

Financial Statements Cost Accounting Financial Reporting Accounting

Commission expense accounting

Accounting Tools

OCTOBER 26, 2023

Accounting for a Commission Under the accrual basis of accounting , you should record an expense and an offsetting liability for a commission in the same period as you record the sale generated by the salesperson, and when you can calculate the amount of the commission.

Accounting

Accounting Accounting Payroll Accruals

2023-2024: Top 10 Expense Management Tools

Invoicera

NOVEMBER 23, 2023

Expense management remains a persistent challenge in the dynamic and modern business world. Yet, with technology enhancement, many expense management tools have emerged, promising efficiency and accuracy. We’ll dive into the top 10 expense management tools for 2024 and beyond. What Is Expense Management?

Expense Reports

Expense Reports Auditing Invoicing Budgeting

Supplies expense definition

Accounting Tools

APRIL 14, 2024

What is Supplies Expense? Supplies expense refers to the cost of consumables used during a reporting period. Depending on the type of business, this can be one of the larger corporate expenses. There are two types of supplies that may be charged to expense, which are noted below.

Accruals

Accruals Accounts Payable Accounts Payable Accounting

Expense Reconciliation

Tipalti

JANUARY 30, 2024

How can expense reconciliation affect your bottom line and how can you most efficiently reconcile expense reports? Learn about common challenges and how to overcome them.

Reconciling

Reconciling Expense Reports

Accrued expenses definition

Accounting Tools

JUNE 11, 2023

Related Courses Accountants' Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What are Accrued Expenses? An accrued expense is an expense that has been incurred, but for which there is not yet any expenditure documentation.

Accruals

Accruals Accounts Payable Accounts Payable Invoicing

Expense Policy 101: How to Create and Implement Your Business Expense Policy

Nanonets

FEBRUARY 13, 2024

Welcome to Expense Policy 101! Whether you’re the captain of a startup ship or steering a more established enterprise, grappling with expenses is as inevitable as those awkward team-building exercises. What is an Expense Policy An expense policy is a rulebook in the game of business spending.

Expense Reports

Expense Reports Record Keeping Budgeting Invoicing

Expense Approval Software

Tipalti

AUGUST 24, 2023

Among today’s top expense management solutions, which expense report software also offers expense approval controls? This in-depth lineup reviews top contenders in 2023.

Expense Reports

Advertising expense definition

Accounting Tools

MARCH 8, 2024

What is Advertising Expense? Advertising expense is a general ledger account in which is stored the consumed amount of advertising costs. The balance in this account is reset to zero at the end of each fiscal year , so that it can be populated in the next year with new advertising expenses.

General Ledger

General Ledger Accounting Accounting

IRS plans rules to clarify R&D expensing

Accounting Today

DECEMBER 26, 2023

The Internal Revenue Service and the Treasury Department have issued a notice saying they intend to propose regulations to address the capitalization and amortization of specified research and experimental expenditures.

Corporation Tax

Corporation Tax Tax

Expense Management

Tipalti

MAY 2, 2023

Learn about the different types of expense management and how they work, and how to choose the best expense management software solution for your business

What is an Expense Receipt?

Nanonets

NOVEMBER 15, 2023

So, reimbursement is like the company giving back the money to its people for work-related expenses. But here's the deal: you need an expense receipt to show what you bought. You must attach these receipts to a monthly expense report, where someone must manually check and approve each claim.

Expense Reports

Expense Reports Financial Records Tax AP

Expense Approval Process

Tipalti

JANUARY 24, 2024

What is the expense approval process and how can automation maximize its efficiency? Explore the best ways to automate your expense approval workflow today.

Expense Reports

Expense Report

Tipalti

MAY 1, 2023

Expense reports are critical to any business’s operating finances. Learn what expense reports are and how to fill one out, with examples and a template.

Expense Reports

Travel and Expense Management Software

Tipalti

MARCH 28, 2024

Review the best travel and expense management software solutions with AP automation capabilities. Simplify your business trips and streamline expenses.

AP

Expense Management Best Practices

Tipalti

FEBRUARY 4, 2024

How do you effectively manage expenses? From mastering expense data collection to expense reporting, use these expense management best practices today.

Expense Reports

Expense Reports Collections

How to calculate interest expense

Accounting Tools

APRIL 6, 2024

Interest expense is the cost of the funds that have been loaned to a borrower. To calculate interest expense, follow these steps: Determine the amount of principal outstanding on the loan during the measurement period. Determine the time period over which the interest expense is being calculated. interest rate.

Accounts Payable

Accounts Payable Accounts Payable Financial Statements Invoicing

The difference between cost and expense

Accounting Tools

OCTOBER 23, 2023

Related Courses Bookkeeping Guidebook Cost Accounting Fundamentals The difference between cost and expense is that cost identifies an expenditure , while expense refers to the consumption of the item acquired. Unfortunately, cost and expense tend to be used interchangeably even within the accounting terminology.

Cost Accounting

Cost Accounting Bookkeeping Billing Financial Accounting

The difference between expenses and losses

Accounting Tools

OCTOBER 11, 2023

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What are Expenses? An expense is an incurred cost that has been consumed in order to earn revenues. Examples of expenses are compensation expense, rent expense , the cost of goods sold , and utilities expense. What are Losses?

Bookkeeping

Accrued expenses payable definition

Accounting Tools

MARCH 11, 2024

What are Accrued Expenses Payable? Accrued expenses payable are those obligations that a business has incurred, for which no invoices have yet been received from suppliers. These accrued expenses can be quite common when suppliers routinely issue invoices several days after the end of a month.

Invoicing

Invoicing Bookkeeping Accounting Accounting

The BILL Spend & Expense Approach to Making Expense Management Easy

IFRS revenue and expenses jump 41%

Webinars

Trending Sources

R&D expensing gets another chance

Webinars

IRS: General health expenses aren't 'medical care'

Global Accounting Principles and Commission Capitalization

Reporting expenses by function

Accrued Expenses: Explained

Balancing automation and compliance in expense reporting

A New Way to Automate with Tipalti Expenses

Operating expense ratio

Expense definition

Workforce Wednesday: QBO Expense Claims - Part 2

Bad debt expense definition

Expense Reconciliation: Step-by-Step Guide

Bond interest expense definition

Supporting services expenses

Employee Expense Report

Examples of operating expenses

Rent expense definition

Expense Reimbursement

Noncash expense definition

Workforce Wednesday: QBO Expense Claims - Part 1

Statement of functional expenses

Deferred expense definition

Expense allocation definition

Commission expense accounting

2023-2024: Top 10 Expense Management Tools

Supplies expense definition

Expense Reconciliation

Accrued expenses definition

Expense Policy 101: How to Create and Implement Your Business Expense Policy

Expense Approval Software

Advertising expense definition

IRS plans rules to clarify R&D expensing

Expense Management

What is an Expense Receipt?

Expense Approval Process

Expense Report

Travel and Expense Management Software

Expense Management Best Practices

How to calculate interest expense

The difference between cost and expense

The difference between expenses and losses

Accrued expenses payable definition

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