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. Allowable expenses
  12. Amortisation
  13. Annual accounting VAT scheme
  14. Annual Investment Allowance (AIA)
  15. Annual report
  16. Appreciation
  17. Arbitrage
  18. Articles of association
  19. Assets
  20. Audit
  21. Audit trail
  22. Auditor's report
  23. Average cost

B

  1. Bad debt account
  2. Bad debt reserve
  3. Balance sheet
  4. Bank balance
  5. Bank reconciliation
  6. Bank statement
  7. Bankruptcy
  8. Barriers to entry
  9. Barriers to exit
  10. Benefits in kind
  11. Bond
  12. Bonus
  13. Book value
  14. Bookkeeping
  15. Break-even point
  16. Bridging software
  17. Budget
  18. Business angel
  19. Buying rate
  20. By-products

C

  1. Capital
  2. Capital allowance
  3. Capital Gains Tax
  4. Card machine
  5. Card payment
  6. Card reader
  7. Cash
  8. Cash accounting
  9. Cash accounting VAT scheme
  10. Cash budget
  11. Cash discount
  12. Cash flow
  13. Cash flow forecast
  14. Chart of accounts
  15. Chip and PIN
  16. CIS
  17. Closing balance
  18. Cloud
  19. Collateral
  20. Commission
  21. Companies Act 2006
  22. Company tax
  23. Conservatism principle
  24. Consistency principle
  25. Consumer price index (CPI)
  26. Consumer Rights Act 2015 (CRA 2015)
  27. Contra account
  28. Contribution margin
  29. Copyright
  30. Corporation
  31. Corporation tax
  32. Cost
  33. Cost of goods sold
  34. Cost principle
  35. Credit
  36. Credit card
  37. Credit note
  38. Creditor
  39. Crowdfunding
  40. Currency
  41. Current assets
  42. Current liabilities
  43. Current ratio
  44. Customs Duty

D

  1. Data Protection Act
  2. Debenture
  3. Debit
  4. Debit note
  5. Debt
  6. Debt ratio
  7. Debtor
  8. Deductible VAT
  9. Default
  10. Deferred expenditure
  11. Deferred revenue
  12. Deferred tax
  13. Delivery note
  14. Department
  15. Deposit
  16. Deposit Interest Retention Tax (DIRT)
  17. Depreciation
  18. Depreciation methods
  19. Digital signature
  20. Direct debit
  21. Director
  22. Directors' report
  23. Dividends
  24. Double entry bookkeeping
  25. Drawings
  26. Due diligence

E

  1. EBIT
  2. EBITDA
  3. Economic entity principle
  4. Economies of scale
  5. Economies of scope
  6. Electronic invoicing
  7. Ending inventory
  8. Entrepreneur
  9. Estimate
  10. Exchange gain or loss
  11. Excise Duty
  12. Exit strategy
  13. Expense
  14. Export VAT

F

  1. FIFO
  2. Financial benchmarking
  3. Financial instrument
  4. Financial statement
  5. Finished goods
  6. Fiscal policy
  7. Fixed assets
  8. Fixed cost
  9. Fixed exchange rates
  10. Flat rate VAT scheme
  11. FOB destination
  12. FOB shipping point
  13. Franchising
  14. Freelancer
  15. Full disclosure principle

G

  1. Gains
  2. GDPR
  3. General ledger
  4. Going concern principle
  5. Golden parachute
  6. Goodwill
  7. Gross profit margin
  8. Group consolidation
  9. GST

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. Income Tax
  9. Individual Savings Account (ISA)
  10. Inflation
  11. Insolvency
  12. Intangible assets
  13. Intellectual property
  14. Interest
  15. Inventory
  16. Invoice
  17. Invoice format
  18. Invoice number

J

  1. Job costing
  2. Joint products
  3. Joint venture
  4. Joint venture for VAT
  5. Journal

K

  1. Key figure

L

  1. Land and Buildings Transaction Tax
  2. Land Transaction Tax
  3. Legal tender
  4. Liabilities
  5. Lifetime Individual Savings Account
  6. LIFO
  7. Limited company
  8. Limited liability
  9. Liquidation
  10. Liquidity
  11. Loan
  12. Losses

M

  1. M-commerce
  2. Making Tax Digital
  3. Management accounting
  4. Manufacturer
  5. Markdown
  6. Market share
  7. Market value
  8. Markup
  9. Matching principle
  10. Materiality principle
  11. Memorandum of association
  12. Merchandise
  13. Mergers and acquisitions (M&A)
  14. Monetary policy
  15. Monetary unit principle

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. Par value
  3. Partial payment
  4. Partnership
  5. Patent
  6. Payback period
  7. PAYE
  8. Payment guarantee
  9. Payment on account
  10. Payment receipt
  11. Payroll
  12. Period end
  13. Periodic stock management
  14. Perpetual stock management
  15. Personal allowance
  16. PESTLE Analysis
  17. Petty cash
  18. Point of sale (POS)
  19. POS system
  20. PP&E
  21. Premium
  22. Prepayments
  23. Price elasticity
  24. Principal payment
  25. Process costing
  26. Product list
  27. Profit & loss statement
  28. Proforma invoice
  29. Project accounting
  30. Provision
  31. Purchase ledger control account
  32. Purchase order
  33. Purchasing power

Q

  1. Quantitative easing
  2. Quick ratio
  3. Quotation

R

  1. Raw materials
  2. Recurring invoice
  3. Reducing balance depreciation
  4. Refund or Reimbursement
  5. Reliability principle
  6. Reminder letter
  7. Remittance advice
  8. Research and Development (R&D)
  9. Reserves
  10. Residual value
  11. Retailer
  12. Retained earnings
  13. Return on investment (ROI)
  14. Revaluation
  15. Revaluation of creditors/debtors
  16. Revenue recognition principle
  17. Revenues
  18. Reverse charge
  19. Rounding

S

  1. Sale of Goods Act 1979 (SOGA)
  2. Sales
  3. Sales discount
  4. Sales ledger control account
  5. Sales turnover
  6. Salvage value
  7. Seasonality
  8. Self assessment
  9. SEPA
  10. Share
  11. Shareholder
  12. Shareholders' agreement
  13. Sole trader
  14. Spoilage
  15. Stakeholder
  16. Stamp duty
  17. Standard VAT accounting scheme
  18. Statement of account
  19. Statement of cash flows
  20. Statutory accounts
  21. Stock
  22. Stock management
  23. Stockholders' equity
  24. Straight-line depreciation
  25. Subscription
  26. Subsidiary
  27. Supply and demand
  28. Supply chain
  29. Suspense account
  30. SWIFT/BIC codes
  31. Switching costs
  32. SWOT analysis

T

  1. Tangible assets
  2. Tax accounting
  3. Tax codes
  4. Time period principle
  5. Time Value of Money (TVM)
  6. Touch ID
  7. Trade mark
  8. Transaction
  9. Trial balance
  10. Turnover

U

  1. UK GAAP
  2. Unbundling
  3. Unique Selling Point (USP)
  4. Useful life

V

  1. Variable cost
  2. Variance
  3. VAT
  4. VAT registration
  5. VAT report
  6. VAT return
  7. VAT threshold
  8. Venture capital

W

  1. Wholesaler
  2. Work in process
  3. Working capital
  4. Write-off

Y

  1. Year end