# Expense

> Expense — Outflows or other using up of assets, or incurrences of liabilities, from delivering or producing goods, rendering services or carrying out other activities — recognized when incurred, not when paid.

Source: https://lopifi.com/glossary/expense
Part of: Lopifi — US GAAP books on autopilot, checked by a CPA (https://lopifi.com)

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**What is expense?** In accounting, expense means outflows or other using up of assets, or incurrences of liabilities, from delivering or producing goods, rendering services or carrying out other activities — recognized when incurred, not when paid.

## Words this system refuses for it

- cost unqualified
- spend

- **Category:** Foundations
- **Specified in:** [Lexicon](https://lopifi.com/md/docs/domain/11-lexicon)
- **Rendered by:** [expense-tracker](https://lopifi.com/md/components/expense-tracker), [expense-capture](https://lopifi.com/md/components/expense-capture)