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. B2C
  2. Bad debt account
  3. Bad debt reserve
  4. Balance sheet
  5. Bank balance
  6. Bank reconciliation
  7. Bank statement
  8. Bankruptcy
  9. Barriers to entry
  10. Barriers to exit
  11. Benefits in kind
  12. Bond
  13. Bonus
  14. Book value
  15. Bookkeeping
  16. Break-even point
  17. Bridging software
  18. Budget
  19. Business angel
  20. Buying rate
  21. By-products

C

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

D

  1. Dangerous asset
  2. Data Protection Act
  3. Debenture
  4. Debit
  5. Debit note
  6. Debt
  7. Debt ratio
  8. Debtor
  9. Deductible VAT
  10. Default
  11. Deferred expenditure
  12. Deferred revenue
  13. Deferred tax
  14. Delivery note
  15. Department
  16. Deposit
  17. Deposit Interest Retention Tax (DIRT)
  18. Depreciation
  19. Depreciation methods
  20. Digital signature
  21. Direct debit
  22. Director
  23. Directors' report
  24. Dividends
  25. Double entry bookkeeping
  26. Drawings
  27. 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. Entrepreneurs' Relief
  10. Estimate
  11. Exchange gain or loss
  12. Excise Duty
  13. Exit strategy
  14. Expense
  15. 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. Structures and Buildings Allowance (SBA)
  26. Subscription
  27. Subsidiary
  28. Supply and demand
  29. Supply chain
  30. Suspense account
  31. SWIFT/BIC codes
  32. Switching costs
  33. 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 Division
  5. VAT exemption
  6. VAT group
  7. VAT registration
  8. VAT relief
  9. VAT report
  10. VAT return
  11. VAT taxable turnover
  12. VAT threshold
  13. Venture capital

W

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

Y

  1. Year end