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.
Accrued expenses are expenses that have been incurred, but not yet paid for. To put it another way, an accrued expense is paid after being recorded on. the books. Every adjusting entry for accrued expenses debits an expense. account, increasing expenses on the income statement and reducing net. income, and credits a payable account, increasing liabilities on the balance. sheet.