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.

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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.

fizkes // Shutterstock What every business should know about expense accounts An expense account sounds simple enough, but it actually means two different things in business. First, it’s the process ...

From an accounting perspective, expense accounts live on the income statement where all business costs get recorded. These are temporary accounts that reset each fiscal period. At the end of the year ...