Simple Bookkeeping-accounts definition

I've known a lot of small business owner doesn't know how to keep track of their expenses and revenues (sales or service income).  Simple bookkeeping will surely help business owner of knowing what are the accounts that are being use by the bookkeeper or accountant. They should also know what expenses or transactions should be included in a certain account. To enlighten small business owner here are some account definition that you should know for the meantime.

Sales or Service Income derived from the business is the  exchange of goods or services for an amount of money or its equivalent. Expenses are the overhead or cost of maintaining the business or generating income. Expenses includes cost of materials, employee salaries, rental, light and water, taxes, postal and communication and other expense account. 

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