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 Investment Allowance
  14. Annual report
  15. Appreciation
  16. Arbitrage
  17. Articles of association
  18. Assets
  19. Audit
  20. Audit trail
  21. Auditor's report
  22. 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. Bookkeeping
  13. Break-even point
  14. Budget
  15. Business angel
  16. Buying rate
  17. 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. Companies Act 2006
  21. Conservatism principle
  22. Consistency principle
  23. Consumer price index (CPI)
  24. Consumer Rights Act 2015
  25. Contra account
  26. Contribution margin
  27. Copyright
  28. Corporation
  29. Corporation tax
  30. Cost
  31. Cost of goods sold
  32. Cost principle
  33. Credit
  34. Credit card
  35. Credit note
  36. Creditor
  37. Crowdfunding
  38. Currency
  39. Current assets
  40. Current liabilities
  41. Current ratio
  42. Customs duty

D

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

F

  1. FIFO
  2. Financial benchmarking
  3. Financial statement
  4. Finished goods
  5. Fiscal policy
  6. Fixed assets
  7. Fixed cost
  8. Fixed exchange rates
  9. Flat rate VAT scheme
  10. FOB destination
  11. FOB shipping point
  12. Franchising
  13. Freelancer
  14. 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. Inflation
  9. Insolvency
  10. Intangible assets
  11. Intellectual property
  12. Interest
  13. Inventory
  14. Invoice
  15. Invoice format
  16. Invoice number

J

  1. Job costing
  2. Joint products
  3. 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. Management accounting
  3. Markdown
  4. Market share
  5. Market value
  6. Markup
  7. Matching principle
  8. Materiality principle
  9. Memorandum of association
  10. Merchandise
  11. Mergers and acquisitions (M&A)
  12. Monetary policy
  13. 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. Quick ratio
  2. 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
  9. Reserves
  10. Residual value
  11. Retained earnings
  12. Return on investment (ROI)
  13. Revaluation
  14. Revaluation of creditors/debtors
  15. Revenue recognition principle
  16. Revenues
  17. Reverse charge
  18. Rounding

S

  1. Sale of Goods Act 1979
  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 cash flows
  19. Statutory accounts
  20. Stock management
  21. Stockholders' equity
  22. Straight-line depreciation
  23. Subscription
  24. Subsidiary
  25. Supply and demand
  26. Suspense account
  27. SWIFT/BIC codes
  28. Switching costs
  29. 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. Venture capital

W

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

Y

  1. Year end