oboloo Glossary

Debit To Expense Account

oboloo Glossary

Debit To Expense Account

The term “debit to expense account” is used in business to refer to the process of transferring money from one account to another for a specific expense. It is a financial transaction that involves transferring funds from an asset account (such as a checking or savings account) to an expense account (such as a payroll or rent account). This type of transaction helps businesses keep track of their expenses and ensures that their financial statements are accurate. Debit to expense accounts can help companies budget their finances and make sure they are using their resources efficiently.