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. B2B
  2. B2C
  3. Bad debt account
  4. Bad debt reserve
  5. Balance sheet
  6. Bank balance
  7. Bank reconciliation
  8. Bank statement
  9. Bankruptcy
  10. Barriers to entry
  11. Barriers to exit
  12. Benefits in kind
  13. Bond
  14. Bonus
  15. Book value
  16. Bookkeeping
  17. Break-even point
  18. Brick and mortar
  19. Bridging software
  20. Budget
  21. Business angel
  22. Business name
  23. Buying rate
  24. 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. Click and mortar
  19. Closing balance
  20. Cloud
  21. Cold-calling
  22. Collateral
  23. Commission
  24. Companies Act 2006
  25. Company tax
  26. Conservatism principle
  27. Consistency principle
  28. Consumer price index (CPI)
  29. Consumer Rights Act 2015 (CRA 2015)
  30. Contra account
  31. Contractor
  32. Contribution margin
  33. Copyright
  34. Corporation
  35. Corporation tax
  36. Cost
  37. Cost of goods sold
  38. Cost principle
  39. Credit
  40. Credit card
  41. Credit note
  42. Creditor
  43. Crowdfunding
  44. Currency
  45. Current assets
  46. Current liabilities
  47. Current ratio
  48. 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. Finance charge
  3. Financial benchmarking
  4. Financial instrument
  5. Financial statement
  6. Finished goods
  7. Fintech
  8. Fiscal policy
  9. Fixed assets
  10. Fixed cost
  11. Fixed exchange rates
  12. Flat rate VAT scheme
  13. FOB destination
  14. FOB shipping point
  15. Franchising
  16. Freelancer
  17. Fringe benefits tax (FBT)
  18. Full disclosure principle

G

  1. Gains
  2. GDP
  3. GDPR
  4. General ledger
  5. Going concern principle
  6. Golden parachute
  7. Goodwill
  8. Gross profit margin
  9. Group consolidation
  10. 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
  16. Monopoly

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. Payroll tax
  13. Period end
  14. Periodic stock management
  15. Perpetual stock management
  16. Personal allowance
  17. PESTLE Analysis
  18. Petty cash
  19. Point of sale (POS)
  20. POS system
  21. PP&E
  22. Premium
  23. Prepayments
  24. Price elasticity
  25. Principal payment
  26. Process costing
  27. Product list
  28. Profit & loss statement
  29. Proforma invoice
  30. Project accounting
  31. Provision
  32. Purchase ledger control account
  33. Purchase order
  34. 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. Subcontractor
  27. Subscription
  28. Subsidiary
  29. Supply and demand
  30. Supply chain
  31. Suspense account
  32. SWIFT/BIC codes
  33. Switching costs
  34. 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. Underwriting
  4. Unique Selling Point (USP)
  5. Unique Taxpayer Reference (UTR)
  6. 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