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.

Running a business is about more than selling goods or services. Business operations depend on a host of support—from the facilities the business occupies to the employees who keep it running. These ...

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 basic accounting terms, expenses are recorded as debits, which increase the expense account balance and reduce net income. The dual nature of expense accounts makes them central to business ...