An expense account sounds simple enough, but it actually means two different things in business. First, it’s the process that lets employees pay for work expenses and get reimbursed by their company.

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Types of expense accounts Businesses break down their expenses into categories so they can see exactly what they're spending on. These categories range from daily operational costs to one-time charges ...

Without expense accounts, important purchases can get lost in general spending, making it impossible to understand true operational costs. When you can see that marketing spent $50,000 last quarter on ...