In recent years a number of accounting software developers have created online applications for small business accounting. These software programs, accessed through the Internet, allow the user to enter all transactions using a constantly updated accounting program, and access data that resides on a server separate from the desktop computer.
Operating budgets are those budget allowances that pertain to the expenses and the incomes which are included in the profit and loss statements of the company for the given fiscal period.
An operating lease is a short-term, cancelable lease. An operating lease is expensed and not capitalized on the books of the company. See Capital Lease.
Other Assets is a category of assets on the Balance Sheet including intangible assets that will not be converted into cash over the next 12 months. Examples of Other Assets are goodwill, covenant not to compete, trademarks, catalogs, brands, copyrights, loan fees, escrow costs, formulas, franchises, and mailing lists.