| Expense |
A generic expense account that covers all expenses. |
| Cost of Goods Sold (COGS) |
The cost of your inventory. |
| Operating Expense |
Expenses other than the cost of inventory incurred during
the regular operation of your business. |
| General and Administrative Expense |
Amount spent for administration and other general expenses. |
| Bad Debt Expense |
Amount lost due to bad debts or the estimated amount
of bad debt. |
| Interest Expense |
Amount spent on interest on debts and liabilities, such
as loans. |
| Income Tax Expense |
Amount spent on the income taxes for the business. |
| Non-Operating Expense |
Expenses incurred outside of the regular operation of
a business. |
| Loss |
Amounts lost from the sale of a fixed asset, such as
the sale of a building. |
| Extraordinary Loss |
Amounts lost from activities over which the business
has no control, such as the expropriation of land. |
Table showing the account classes
in the expense account group