Bank Routing Numbers. Bank Routing Numbers. Bank routing number or routing transit number (RTN) is a nine digit number used to identify financial institution in a transaction. Most common transaction types where routing numbers are used are ACH and wire transfers.
Expense Accounts. In financial accounting, expense is: The consumption of the business' own resources (assets). Examples: consumption of supplies, cash, materials inventory and deterioration of equipment etc. OR. The creation of a liability against the business when it consumes resources from outside.
Expenses are temporary accounts that illustrate a companyâs cost of conducting business. Expenses include items such as supplies, advertising and other costs your company must pay to generate revenue. Debit the income summary account for the total expenses for the period.