Debitoor Dictionary

Explanation of common entrys used in accounting

A

  1. Accountancy
  2. Accounting equation
  3. Accounting system
  4. Accounting year
  5. Accounts payable
  6. Accounts receivable
  7. Accrual accounting
  8. Accruals
  9. Aged debtors report
  10. Amortisation
  11. Annual Accounting VAT Scheme
  12. Annual report
  13. Appreciation
  14. Arbitrage
  15. Articles of association
  16. Assets
  17. Audit
  18. Audit trail
  19. Auditor's report
  20. Average Cost

B

  1. Bad Debt Account
  2. Bad Debt Reserve
  3. Balance sheet
  4. Bank balance
  5. Bank reconciliation
  6. Bank Statement
  7. Benefits in kind
  8. Bookkeeping
  9. Budget
  10. Business angel
  11. Buying Rate

C

  1. Capital
  2. Capital allowance
  3. Capital Gains Tax
  4. Cash
  5. Cash accounting
  6. Cash Accounting VAT Scheme
  7. Cash budget
  8. Cash discount
  9. Chart of accounts
  10. CIS
  11. Closing balance
  12. Cloud
  13. Collateral
  14. Companies Act 2006
  15. Contra account
  16. Contribution margin
  17. Copyright
  18. Corporation
  19. Corporation tax
  20. Cost
  21. Cost of Goods Sold
  22. Credit
  23. Credit card
  24. Credit note
  25. Creditor
  26. Crowdfunding
  27. Currency
  28. Current assets
  29. Current liabilities
  30. Current ratio
  31. Customs Duty

D

  1. Data Protection Act
  2. Debenture
  3. Debit
  4. Debt ratio
  5. Debtor
  6. Default
  7. Deferred expenditure
  8. Deferred revenue
  9. Delivery note
  10. Department
  11. Depreciation
  12. Depreciation methods
  13. Digital signature
  14. Director
  15. Directors' report
  16. Dividends
  17. Double entry bookkeeping
  18. Drawings

E

  1. EBIT
  2. EBITDA
  3. Electronic invoicing
  4. Ending inventory
  5. Exchange gain or loss
  6. Expense
  7. Export VAT

F

  1. FIFO
  2. Financial benchmarking
  3. Finished goods
  4. Fixed assets
  5. Fixed exchange rates
  6. Flat Rate VAT Scheme
  7. FOB destination
  8. FOB shipping point
  9. Franchising
  10. Freelancer

G

  1. Gains
  2. General ledger
  3. Goodwill
  4. Group consolidation

I

  1. IBAN
  2. IFRS Standards
  3. Impairment
  4. Import Duty
  5. Import VAT
  6. Imprest system
  7. Income statement
  8. Insolvency
  9. Intangible assets
  10. Inventory
  11. Invoice
  12. Invoice number

J

  1. Journal

K

  1. Key figure

L

  1. Legal tender
  2. Liabilities
  3. LIFO
  4. Limited company
  5. Limited liability
  6. Liquidation
  7. Losses

M

  1. M-commerce
  2. Management accounting
  3. Market value
  4. Matching principle
  5. Materiality Principle
  6. Memorandum of association
  7. Merchandise

N

  1. National Insurance
  2. Net Sales
  3. Nominal ledger

O

  1. OCR system
  2. Open items creditor
  3. Open items debtor
  4. Opening balance
  5. Outsourcing

P

  1. Packing note
  2. Partnership
  3. Patent
  4. PAYE
  5. Payment Guarantee
  6. Payment on Account
  7. Payroll
  8. Period end
  9. Periodic stock management
  10. Perpetual stock management
  11. POS system
  12. PP&E
  13. Prepayments
  14. Principal payment
  15. Product list
  16. Profit & Loss Statement
  17. Proforma invoice
  18. Project accounting
  19. Provision
  20. Purchase Ledger Control Account
  21. Purchase order
  22. Purchasing power

Q

  1. Quotation

R

  1. Raw materials
  2. Reducing balance depreciation
  3. Reminder letter
  4. Remittance advice
  5. Reserves
  6. Residual value
  7. Revaluation
  8. Revaluation of Creditors/Debtors
  9. Revenues
  10. Rounding

S

  1. Sales
  2. Sales Ledger Control Account
  3. Sales turnover
  4. Salvage value
  5. Self Assessment
  6. Shareholder
  7. Shareholders' agreement
  8. Sole trader
  9. Spoilage
  10. Stakeholder
  11. Stamp Duty
  12. Standard VAT Accounting Scheme
  13. Statement of cash flows
  14. Statutory accounts
  15. Stock management
  16. Stockholders' equity
  17. Straight-line depreciation
  18. Subscription
  19. Subsidiary
  20. Suspense Account
  21. SWIFT/BIC codes

T

  1. Tangible assets
  2. Tax accounting
  3. Tax codes
  4. Touch ID
  5. Trade mark
  6. Trial balance
  7. Turnover

U

  1. UK GAAP
  2. Useful life

V

  1. Variance
  2. VAT
  3. VAT Registration
  4. VAT report
  5. VAT Return
  6. Venture capital

W

  1. Work in process
  2. Write-off

Y

  1. Year end