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.

In accrual accounting, an expense is recognized when the business becomes liable for it, not when it settles the account. A company may pay some expenses, such as utility bills, in arrears and others, ...

Expense accounts, also called expense allowances, are plans under which companies reimburse employees for business-related expenses. These expenses include travel, entertainment, gifts, and other ...

Administrative expenses include most expenses that are part of your operating budget. To be classified as an administrative expense, the expense must be a regular business expense that aids the ...

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.