I’ll publish a new version of CapitalBe in the near future. Got a quick question regarding financalese to our native speakers.
CapitalBe knows two super categories “Income” and “Spending”. Any transaction has to be filed under one or the other (aside account-to-account transfers). Are those terms OK? I’m a bit wary about “Spending” as it’s similar to the verb form and clashes a bit with its nemesis “Income”.
I usually see the plural on financial statement sheets, yes. Here’s an example (for a business, so it says “Revenue” instead of “Income”): Income Statement: How to Read and Use It
There is a substantial difference between expenses and expenditures. In business accounting, the former is a recurring spending to run the business and does not contribute to the overall value of the business while the latter is a spending for purchasing long-term assets which instead contribute to it like machinery, buildings but also cover operational costs to keep the assets up and running.
For personal accounting I would go for “expenses”, IMO.
Does Latin have a separate locale setting from the English language? It should have because even Catholic priests in the United States don’t use Latin anymore and were the last holdouts.
Expenses are a sub-set of expenditure, which means all money spent. It is the opposite of income, and therefore the correct word to use here.
IMHO, of course.