Expense Types
Expense types and expense categories are classifications used in accounting and financial management to organize and track expenses incurred by a business. They help in budgeting, expense analysis, and financial reporting. Expense types refer to an expense's specific nature or purpose. They categorize expenses based on their purpose. Examples of expense types include:Travel expensesOffice SuppliesEquipment maintenanceMarketing expensesUtilitiesSalaries and wagesRentMerchants or vendors are typically linked to expense types through the worker order or expense process.