Debitoor Dictionary

Explanation of common entrys used in accounting

A

  1. Accountancy
  2. Accounting equation
  3. Accounting principles
  4. Accounting system
  5. Accounting year
  6. Accounts payable
  7. Accounts receivable
  8. Accrual accounting
  9. Accruals
  10. Aged debtors report
  11. Amortisation
  12. Annual accounting VAT scheme
  13. Annual report
  14. Appreciation
  15. Arbitrage
  16. Articles of association
  17. Assets
  18. Audit
  19. Audit trail
  20. Auditor's report
  21. 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
  12. By-products

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. Cash flow
  10. Cash flow forecast
  11. Chart of accounts
  12. CIS
  13. Closing balance
  14. Cloud
  15. Collateral
  16. Companies Act 2006
  17. Consumer price index (CPI)
  18. Contra account
  19. Contribution margin
  20. Copyright
  21. Corporation
  22. Corporation tax
  23. Cost
  24. Cost of goods sold
  25. Cost principle
  26. Credit
  27. Credit card
  28. Credit note
  29. Creditor
  30. Crowdfunding
  31. Currency
  32. Current assets
  33. Current liabilities
  34. Current ratio
  35. 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. Deferred tax
  10. Delivery note
  11. Department
  12. Depreciation
  13. Depreciation methods
  14. Digital signature
  15. Director
  16. Directors' report
  17. Dividends
  18. Double entry bookkeeping
  19. Drawings

E

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

F

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

G

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

H

  1. Historical cost

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. Intellectual property
  11. Interest
  12. Inventory
  13. Invoice
  14. Invoice format
  15. Invoice number

J

  1. Job costing
  2. Joint products
  3. Journal

K

  1. Key figure

L

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

M

  1. M-commerce
  2. Management accounting
  3. Market value
  4. Markup
  5. Matching principle
  6. Materiality principle
  7. Memorandum of association
  8. 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
  6. Overhead

P

  1. Packing note
  2. Partnership
  3. Patent
  4. PAYE
  5. Payment guarantee
  6. Payment on account
  7. Payment receipt
  8. Payroll
  9. Period end
  10. Periodic stock management
  11. Perpetual stock management
  12. POS system
  13. PP&E
  14. Prepayments
  15. Principal payment
  16. Process costing
  17. Product list
  18. Profit & loss statement
  19. Proforma invoice
  20. Project accounting
  21. Provision
  22. Purchase ledger control account
  23. Purchase order
  24. Purchasing power

Q

  1. Quick ratio
  2. Quotation

R

  1. Raw materials
  2. Reducing balance depreciation
  3. Reminder letter
  4. Remittance advice
  5. Reserves
  6. Residual value
  7. Return on investment (ROI)
  8. Revaluation
  9. Revaluation of creditors/debtors
  10. Revenues
  11. Rounding

S

  1. Sales
  2. Sales discount
  3. Sales ledger control account
  4. Sales turnover
  5. Salvage value
  6. Seasonality
  7. Self assessment
  8. SEPA
  9. Shareholder
  10. Shareholders' agreement
  11. Sole trader
  12. Spoilage
  13. Stakeholder
  14. Stamp duty
  15. Standard VAT accounting scheme
  16. Statement of cash flows
  17. Statutory accounts
  18. Stock management
  19. Stockholders' equity
  20. Straight-line depreciation
  21. Subscription
  22. Subsidiary
  23. Suspense account
  24. 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. Unbundling
  3. 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. Working capital
  3. Write-off

Y

  1. Year end