Editing Expense (section)

==Bookkeeping for expenses==
In double-entry bookkeeping, expenses are recorded as a [[debit]] to an expense account (an [[income statement]] account) and a [[credit (finance)|credit]] to either an asset account or a liability account, which are [[balance sheet]] accounts. An expense decreases assets or increases liabilities. Typical business expenses include salaries, utilities, depreciation of capital assets, and interest expense for loans. The purchase of a capital asset such as a building or equipment is not an expense.