👉 Outgoings are expenses that a company or individual has recorded as a liability in their financial statements. They represent money that is not used for business purposes but remains on hand to be repaid when needed, such as insurance premiums, rent, and other types of costs that do not directly result in revenue. In accounting terms, outgoings are also known as liabilities. This term can be a useful tool to understand the financial health of an organization by tracking its overall cash flow.