Glossary
Glossary
A - B - C - D - E - F - G - H - I - J - K - L - M - N - O - P - Q - R - S - T - U - V - W - X - Y - Z
A
account
An account is a tool used to organize a business. You can assign transactions to eight account classifications:
■
Asset
■
Liability
■
Equity
■
Income
■
Cost of sales
■
Expense
■
Other income
■
Other expense
 
Accounts are classified as header or detail. Transactions are assigned directly to detail accounts. Header accounts are used to summarize multiple detail accounts. Each account must have a unique number.
account classification
One of the eight accounts groups in the Accounts List: Assets, Liabilities, Equity, Income, Cost of Sales, Expense, Other Income, Other Expense.
account type
A label assigned to each account to indicate its classification. For header accounts, account type names are the eight account classifications. Detail accounts have multiple asset (Bank, Accounts Receivable, Other Asset) and liability (Credit Card, Accounts Payable, Liability, Other Liability) account types. Each of the other six classifications has just one account type, each named the same as the classification.
account number
The account number identifies an account. Each account must have a unique number.
account type
A label assigned to each account to indicate its classification. For header accounts, account type names are the eight account classifications. Detail accounts have multiple asset (Bank, Accounts Receivable, Other Current Asset, Fixed Asset, Other Asset) and liability (Credit Card, Accounts Payable, Other Current Liability, Long Term Liability, Other Liability) account types. Each of the other six classifications has just one account type, each named the same as the classification.
accounting period
A part of your fiscal year. AccountEdge software treats each calendar month as a separate accounting period. Your software also provides an optional 13th period for year-end adjustments.
accounts list
Commonly referred to as a chart of accounts, this is a list of all your asset, liability, equity, income, cost of sales, expense, other income, and other expense accounts.
accounts payable
What you owe for goods or services delivered. The sum of all accounts payable is recorded as a liability account. Any time you record a purchase in the Purchases command centre, the unpaid balance of the purchase is added to your accounts payable balance. Every time you pay a bill (using Pay Bills in the Purchases command centre), the amount is subtracted from your accounts payable balance.
accounts receivable
What your customers owe you. The sum of all accounts receivable is recorded as an asset account. Any time you record a sale in the Sales command centre, the unpaid balance of the sale is added to your accounts receivable balance. Every time you enter a customer payment (using the Sales command centre), the amount is subtracted from your accounts receivable balance.
accrual method (basis)
A method of accounting which records sales and purchases at the time they’re delivered, not at the time they’re paid for.
accruals
Hours that accumulate on paychecks; used to pay special wages, such as vacation or sick pay.
activity
A task or service provided by your company for which you can track costs and bill customers on time billing sales.
activity slip
A record of the activities performed by your company; the basic record keeping unit of the Time Billing Command Centre. Customers are billed for the recorded time on time billing sales.
activity statement
A statement that includes all sales invoices, payments, and orders with a customer deposit for a specific period of time; a running balance is included. Quotes never appear on an activity statement.
adjustment: bank deposit
Entries in the Bank and Deposit Adjustments window to account for details that would prevent a bank reconciliation if omitted. An example is a fee charged by a credit card processor.
adjustment: inventory
Inventory adjustments change an item’s quantity to match the actual quantity on hand, or to change the unit cost. An inventory adjustment changes the item’s total value.
adjustment: time billing
Time billing adjustments change an activity slip’s billable amount without affecting the record of the hours or units that were actually worked, or changing the rate usually charged for an activity.
Administrator
The user ID that has access to the entire company file. The Administrator ID is created automatically upon creation of the company file. The Administrator must assign a user ID to every other person who uses the system; no other user is authorized to create other user IDs.
ageing: payables
The number of days between receiving a bill from a vendor and an ageing date (usually today).
ageing: receivables
The number of days between invoicing a customer and an ageing date (usually today).
allocation account
Usually an expense or income account used to automatically balance a transaction such as a check or deposit.
assets
Things you own. Your bank account and computer are both assets. If someone owes you money, the total owed to you is an asset. Current assets are assets that can be turned into cash within a relatively short period of time (less than a year). Things that take longer to turn into cash, like your factory building, are called fixed assets.
audit trail
Information captured by the accounting system to track how each transaction affected every account balance, who performed the processing, and so on. The Audit Trail Tracking System security preference activates a tracking system that records and reports certain entries and many changes performed to a company file.
auto-build
The process of combining two or more inventoried items, or “components”, to create another inventoried item, known as a “finished item”.
average cost method
The average cost method to value an inventory item. That is, the total cost of all your purchases for a particular item currently on hand divided by the number of items on hand.
B
backing up
The process of preserving information in another location to ensure the information you enter using your computer is safe. Use the Back Up command to back up the company file, with or without any supporting folders.
backup file
A computer file copied during the backing-up process, and stored at a secondary location.
bad debt
Money owed to you that is unlikely to be paid.
balance
The sum of all the money added to and subtracted from an account.
balance sheet
A financial snapshot of a company’s position at a particular time. A balance sheet lists the balances of the company’s asset, liability, and equity accounts. It is called a balance sheet because the total value of the asset accounts minus the total value of the liability accounts always equals the total value of the equity accounts.
bill
A recorded purchase transaction.
billing unit
A 1, 6, 10, 12, 15, or 30 minute measure that you define in the System tab of the Preferences window for use in time billing for hourly activities, rather than whole hours. Whether or not you use billing units, timesheets and time billing invoices will display your billable units as whole hours.
budgets
Expected monthly net activity for an account. Budgets are useful for planning for the future and for analyzing actual performance against planned performance.
build item
The process of transferring inventoried item quantities after finished items are created; also, the change in quantity.
C
cards
Cards are records of every customer, vendor, employee, and personal contact you deal with.
cash flow
The net flow of ‘money in’ minus ‘money out’ over a period of time.
cash method (basis)
Records the sale or purchase of goods and services at the time they’re paid for, not when they’re delivered. The opposite of the accrual method of accounting.
category
A category is an entity for grouping transactions. A category can be a department, profit centre, geographic division or any other subset of your business that requires separate reporting.
cleared
A withdrawal or deposit is said to be cleared when your bank accepts it in your account balance.
closed period
An accounting period in which all entries are completed. AccountEdge software does not require that you actively close a period. However, in the Preferences window you can prevent accidental posting to a closed (locked) period.
closed purchases
Purchases that have been paid in full.
closed sales
Sales that have been paid in full.
C.O.D.
Refers to a transaction for which the balance is due at the time the items are delivered. (An abbreviation for “Collect on Delivery”.)
comma-separated file
A file format in which fields are separated by commas. Files in this format can usually be imported into AccountEdge software.
company file
A file comprising all your company’s financial information such as business name, contact information, accounts, and account transactions. You can use AccountEdge software for 30 days in trial-mode. After this time, you will be unable to enter any changes until the file is activated.
company information
Found in the Setup menu, your company information contains your company’s name, address, tax information, and information about your company’s fiscal year.
contra account
This is an account that normally carries the opposite balance of the accounts of the same type. Assets, for example, normally have a debit balance; a common contra-asset account is the accrued depreciation of an asset. By using a contra account, you can show a company a car that’s worth $12,000, by listing the asset at its $15,000 purchase price followed by the -$3,000 balance of the accrued depreciation account.
conversion month
The earliest month in the fiscal year for which transactions are to be recorded. If you purchase your software in October but begin to record transactions dated from September 1, your conversion month is September. The conversion month determines the opening balances you will enter when you set up your company file.
cost of sales
Sometimes called ‘cost of goods sold’ this account type works just like an expense account. The only difference is where it appears on the profit & loss statement. Cost of sales accounts appear after your income accounts, but before your expense accounts. Cost of sales is subtracted from your income to produce gross profit, but your expenses are subtracted from your gross profit to produce net profit. You are not required to use cost of sales accounts.
credit
An amount on the right side of the ledger. (Debit amounts appear on the left.) A credit amount increases the balance of accounts with a credit balance and decreases the balance of accounts with a debit balance. Accounts that normally carry a credit balance are liability, equity and income accounts.
credit hold
A status that can be imposed on a customer’s account. This action may be taken if the currently past due amount reaches a certain amount or has existed for a certain period of time, even if the amount due does not exceed the credit limit.
credit terms
The agreed upon rules governing the number of days between delivery and payment, and discounts for early payment and penalties. In AccountEdge software, you can set default terms for all customers.
creditor
Someone to whom you owe money.
current assets
Assets that can be turned into cash within a relatively short time (less than a year) are called current assets. Some of your current assets are your bank accounts, accounts receivable, and petty cash. Current assets usually do not lose their value over time. Current assets normally have a debit balance.
current liabilities
Liabilities that become payable within the next year.
current year earnings
Current year earnings is an equity account. Its balance equals your income minus cost of sales and expenses. Current year earnings are zero at the beginning of a fiscal year. Current year earnings are kept as a running total as the fiscal year progresses. When you start a new fiscal year, the balance of the current year earnings account is reset to zero because the balance amount is moved into the retained earnings account.
custom fields
Fields that can be assigned names to fit the way card and item records are defined.
custom lists
Lists of predefined attributes that remain standard over time and can be assigned to cards and items. Once assigned, they can be used to sort or to include or exclude cards or items from reports.
custom report
A modified version of one of the standard reports (listed in the Index to Reports) that was saved for future use. These reports are listed in the Custom tab of the Index to Reports window.
customer
Someone to whom you sell goods or services. You must enter customer details in a customer card before you record a sale.
customer credit
When a customer returns goods they have paid for, you can create a credit transaction to cancel the original sale and record a return. A customer credit is usually an invoice recorded with a negative amount. A customer credit is also created when a customer’s account is overpaid. A customer credit is settled by writing a refund check or applying the amount to another open invoice.
D
Day of Month after EOM
A setting to indicate that the payment due date and early payment discount date are based both on the month after the transaction was recorded (after the End of Month) and the selections made in the Discount Date and Balance Due Date fields. For example, if a transaction was recorded in April with a discount date of the 1st and a balance due date of the 25th, a discount would apply if the balance was paid by May 1; the entire balance would be due May 25.
debit
An amount on the left side of the ledger. (Credit amounts appear on the right.) A debit amount increases the balance of accounts with a debit balance and decreases the balance of accounts with a credit balance. Accounts that normally carry a debit balance are asset and expense accounts.
debit purchase
See vendor debit.
debtor
Someone who owes you money. See also accounts receivable.
deduction
Any amounts other than taxes that are subtracted from an employee’s gross pay.
default
A suggested entry that appears in a data entry field; also a setting or preference that is used automatically for a feature or option unless the user specifies another.
delivery status
The means by which you send a form to a customer, employee, or vendor. The choices are To Be Printed, To Be Emailed, To Be Printed and Emailed, or Already Printed or Sent. For sales and purchases, you can assign a default status to a customer or vendor and change it for an individual sale or purchase.
deposits from customers
Advances received for goods or services not yet delivered. Customer deposits are kept in a liability account.
deposits to vendors
Advances paid to vendors for goods or services not yet delivered. Vendor deposits are kept in an asset account.
depreciation
The expense allocation of the cost of an asset over a period of time. Most accountants create a contra-asset account, such as accumulated depreciation, to track the depreciation of an asset. A typical depreciation transaction credits the contra-asset account and debits a depreciation expense account. Depreciation is most often recorded as a general journal entry.
detail account
An account to which transactions can be assigned. Several detail accounts can be grouped under a header account. Detail accounts are postable while header accounts are not postable.
detail job
A job used for tracking the specific income, costs, and expenses incurred on a daily basis. Reimbursable expenses can be tracked and specific line items in transactions can be assigned.
discount early payment
The amount taken off the balance due in return for payment within an agreed number of days.
discount volume purchase
The amount taken off an item’s cost because of a special vendor or customer arrangement.
discount days
The number of days from a sale or purchase within which full payment of the balance due entitles the payee to a discount.
double-entry accounting
A method of bookkeeping in which every entry is balanced by another entry. Correct double-entry accounting always provides a balanced set of books; that is, the total value of your asset accounts minus the total of your liability accounts should equal the total value of your equity accounts.
E
 
earnings
Income minus cost of sales and expenses. See current year earnings.
employer expenses
Your company’s costs of having employees. They are calculated on employees’ paychecks, but don’t affect the employees’ net pay; instead, they affect the amounts you must contribute to the employee, to the government, or to other institutions.
equity
A company’s net worth. The equity of a company equals its assets minus its liabilities. Equity is an account type. Equity accounts usually carry a credit balance. Some common equity accounts are current year earnings, retained earnings, and shareholder’s equity.
expense
A cost associated with running a business. Expense is an account type. Expense accounts usually carry a debit balance.
exporting
The process of transferring data from a company file to a text file for use with another software program.
F
field
A location where one unit of information, such as the telephone number for a customer, is entered and displayed. Data fields can contain either information entered by a user or the results of a calculation performed by your software. Text fields usually are labels for data fields.
file locking
A special function that makes it possible for more than one user to enter information in the same company file at the same time. (See multiuser file locking and single-user file locking.)
filters
Selections that enable you to set criteria to specify information that you want to display, print, or email.
finance charge
The amount added to an outstanding balance as a penalty for late payment.
financial statements
The balance sheet and income (profit & loss) statement. The balance sheet is your company’s financial picture at a particular time. The income statement shows your company’s financial performance over a period of time.
finished item
Term for an inventory item that’s the result of combining two or more components.
fiscal year
The 12-month period you use to define your accounting year. AccountEdge software does not require that it matches the calendar year. You are also provided an optional 13th period for making year-end adjustments that you do not want to affect a particular month.
fixed assets
Assets that have a relatively long life (a year or more). Your buildings, cars, and computers are fixed assets. Fixed assets usually depreciate; that is, they lose some of their value as you use them.
form
A document used in day-to-day business, usually to accomplish transactions like sales and purchases. Typical forms include sales invoices, statements, purchase orders, and checks. Payroll Tax Forms are official documents that are filed with the government. Documents such as labels, personalized letters, and packing slips are also considered forms.
G
general journal
A journal used to record miscellaneous transactions not entered in other journals. For example, year-end adjustments and depreciation expenses.
general ledger
This is where all your account information—sales, purchases, inventory, cash in, cash out—come together. You prepare your financial statements (balance sheet and income statement) from the general ledger information.
gross profit
It is defined as income minus cost of sales.
H
header account
A header account is used to group similar detail accounts. You cannot post a transaction to a header account.
header job
A job used for grouping jobs and organizing income, costs, expenses, and profit or loss in larger, more comprehensive categories than individual jobs. Reimbursable expenses cannot be tracked for header jobs and line items can’t be assigned as they can be with detail jobs.
historical balance
The balance of an account prior to converting your records to AccountEdge software. You are not required to enter historical balances. Enter them only if you wish to compare a current month’s activity to the activity for the same month last year.
historical purchase
A purchase that had a current balance due on the first day of the month in which you began using your software.
historical sale
A sale that had a current balance due on the first day of the month in which you began using your AccountEdge software.
I
icons
A graphic representation of an object that appears on a computer screen. Icons in include the zoom arrow and search icon.
identifiers
A one-letter code used to sort and select cards in the card file. You can assign up to 26 identifiers to a card.
import log
A report created during the importing process. This report (titled AccountEdgeplog.txtAccountEdgeLog) lists information about any problems that occurred during the importing process, as well as information about rejected duplicate records.
importing
The process of bringing data into a company file from a different software program, or from a different company file.
In a Given Number of Days
A setting to indicate that the payment due date and early payment discount date are based on a specified number of days since the transaction date.
inactive
If you rarely use a card, item, or location and you do not want it to appear in Select From Lists, you can make it inactive.
income
Revenue from the sale of goods or services. Income is an account type. Income accounts usually carry a credit balance.
income statement
Also called a profit & loss statement, the income statement shows your company’s performance over a period of time. An income statement begins with income. It then subtracts cost of sales to produce a gross profit. Expenses are subtracted from gross profit to produce operating profit. ‘Other income’ amounts are added to operating profit and ‘other expense’ amounts are subtracted from operating profit to produce net profit.
inventoried item
A physical unit stored for possible sale to a customer. This is an item record for which the I Inventory This Item option has been selected.
inventory
Raw materials, items available for sale, and items in the process of being made ready for sale. Most accountants record an inventory’s value in a current asset account. Inventory items are valued using the average cost method.
inventory adjustment
The process of changing the quantity of an inventoried item to match the actual quantity on hand; also, the change in quantity.
invoice
The record of a sale.
item
A unit in your items list. An item can be physical inventory, like a widget or a pair of shoes; or it can be non-physical, like an hour of your time.
J
job
Work for which you wish to track income and expenses. A job can be a profit centre, a product line, a project, or any other subset of your business that requires a separate income statement.
journal
A tool for organizing your accounting entries. All entries are grouped into one of six journals: general, disbursements, receipts, sales, purchases, or inventory.
journal entry
A transaction consisting of equal debit and credit amounts.
L
liability
Things you owe. Your working capital loan is a liability. Your accounts payables is what you owe someone for a purchase, and are liabilities. Liabilities that are due within the next year are called current liabilities. When a liability is not due for more than a year, it is called a long‑term liability. Liabilities normally have a credit balance.
line item
The information entered in one row of the scrolling list for a transaction (sale, purchase, general journal entry).
linked account
Your AccountEdge software uses linked accounts to post your inventory, sales, and purchase transactions to the proper account. When, for example, you link your receivables account, you are telling your software where to post the balance due from a sale.
location
A record of a physical location where inventoried items are stored, for example, a building, an aisle, or a bin.
locked period
An accounting period in which entries are no longer allowed. Periods may be locked using a security option in the Preferences window.
long-term liability
A liability that does not have to be paid for at least a year.
M
markup
The difference between your cost and the selling price. Percent markup is calculated by dividing the markup by the cost. For example, an item that costs $10 and sells for $12 has a $2 markup. The markup percent is 20%. For comparison, see also margin.
margin
Percent margin is calculated by dividing the markup by the selling price. For example, an item that costs $10 and sells for $12 so has a $2 markup. The margin percent, calculated by $2/$12, is 16.67%.
miscellaneous purchases
Used to record non-item purchases that do not require a printed purchase order.
miscellaneous sales
Used to record non-item sales that do not require a printed invoice.
multiuser file locking
Used when more than one person is entering information into the same company file at the same time to prevent different pieces of data from “colliding” into each other when they’re simultaneously entered into a company file; such a situation, if not prevented, could seriously damage the company file.
N
negative inventory
Negative inventory is inventory with an on-hand quantity and a total value less than zero.
net income
Net income (net profit or loss) is the total of all income amounts minus the sum of your expense and cost of sales amounts. Positive values are called ‘net profits’ and negative values are called ‘net losses’.
Number (#) of Days after EOM
A setting to indicate that the payment due date and early payment discount date are based on a set number of days after the end of the month.
O
OfficeLink
A feature used to transfer reports to Microsoft Excel, and allows creation of personalized letters using a compatible word processing program.
OfficeLink template
One of the special Excel and Word templates that are installed with your software. These are used to view reports in Excel or export data to personalized letters.
On a Day of the Month
A setting that indicates that the payment due date and early payment discount date are based on the month when the transaction was recorded as well as selections made in the Discount Date and Balance Due Date fields. For example, if a transaction is recorded in April with a discount date of the 10th and a balance due date of EOM, a discount would apply if the balance were paid by April 10 and the entire balance would be due April 30.
open bill
A purchase with an outstanding balance due.
open sale
A sale with an outstanding balance due.
opening balance
The balance of an account as of the start of the first day of your conversion month.
operating profit
Profit you made before considering ‘other income’ and ‘other expense.’
optimizing
The process of removing unused areas in the company file and keeping your accounting software running efficiently. The Optimization Assistant accomplishes this process.
other expense
An account type used to record expenses that are not directly related to your company’s operations such as loan interest, fines, etc. ‘Other expense’ accounts usually have a debit balance.
other income
An account type used to record income that is not directly related to your company’s operations such as bank interest, investment income, etc. ‘Other income’ accounts usually have a credit balance.
out of balance
When the total credit amount does not equal the total debit amount in a transaction, the transaction is out of balance. You cannot record an out of balance transaction.
P
payables
What you owe for items or services delivered. See ‘accounts payable’.
payroll categories
The components of an employee’s paycheck. These are grouped into five payroll category types: wages, accruals, deductions, taxes, and employer expenses.
posting
Transferring a journal entry to the General Ledger.
preferences
A variety of setup options used to customize the way you work in your company file. (Find them by choosing Preferences from the Setup menu.)
prepaid
A transaction for which the balance is due at the time the transaction occurs. No credit is extended to the customer in a prepaid transaction.
pricing levels
Different prices at which an item is sold to different kinds of customers. Up to six pricing levels can be set.
primary vendor
The vendor from whom an item is usually purchased.
profit & loss statement
See income statement.
profit centre
A subset of your business for which you want to track income and expenses. You can track a profit centre by assigning a job number or category code to transactions.
promised date
The date a pending sale or pending purchase is due to be delivered on. If a pending sale is not delivered as of its promised date, a reminder is posted to the To Do List.
purging
The act of erasing old data. You can purge journal entries, closed sales, closed purchases, activity slips, and contact logs.
Q
quote
An estimate you provided to one of your customers or received from one of your vendors. A quote doesn’t create a transaction, so it has no impact on your financial records or inventory levels. No payments can be applied to a quote.
R
realized losses and gains
Actual changes in the value of your assets, liabilities, and equity that occur when you exchange foreign currency for your local currency.
recap transaction
A function that lets you look at a journal entry before it is recorded. Recap transaction is particularly useful for those transactions, such as invoices and bills, for which the journal entry is not immediately obvious.
receivables
What someone owes you for items or services delivered. See accounts receivable.
reconciling
The process of checking that your records agree with your bank’s records.
record
A collection of information about individual parts of accounting data. For example, information about a single customer is stored as one record.
recurring pay
The current values of an employee's payroll details (wages, accruals, deductions, employer expenses and taxes) that are automatically used when processing the employee's pay.
recurring transaction
An accounting entry that is made periodically, such as weekly payroll, monthly rent, etc.
reimbursable expense
An expense that is incurred on behalf of a customer for a job and that will be reimbursed by the customer.
report batch
A group of reports that are set up so that they can be printed at one time.
report header
A report section that’s printed at the top of a page. Report headers typically include labels for each column in the report, as well as the date and time the report was printed.
restoring
The process of decompressing a backup file so it can be used. Choosing the Restore command found in the File menu is one way to accomplish this.
retained earnings
Money from previous years earnings that has been left in the company. At the end of a fiscal year any money earned (or lost) during the fiscal year is transferred to retained earnings. Retained earnings are recorded in an equity account.
revenue
Income from the sale of goods or services. Revenue is recorded in an income account. Income accounts usually carry a credit balance.
reversing
The process of canceling a transaction by entering a new transaction with the same amounts but with opposite signs.
S
session report
A report containing journal activity since the company file was last opened.
shareholder’s equity
The owners’ stake in the company. It is the amount the owners invested in the company plus the current year earnings and retained earnings.
single-user file locking
A feature that ensures that only one user is using a company file during certain file maintenance tasks (such as backing up and checking a company file for errors) that require the ’full involvement’ of the company file.
standard cost
The price entered for the item in the Buying Details view of the Item Information window. You can change the price on the purchase, if you want. If you select the Use Standard Cost as the Default Price on Purchase Orders and Bills option, it is the price that will appear automatically for the item when you enter a purchase.
sub-job
A component of another larger, more comprehensive job.
sub-tax
The tax codes that make up a Consolidated tax type.
system-wide preference
A setting in the Preferences window that affects everyone who works with the company file, not just the user who selects that preference.
T
tab-delimited file format
A file format in which fields that are separated by tab spaces. Tab-delimited files can be opened in most word-processing and spreadsheet software, and can usually be used to import data into AccountEdge software.
tax table
A set of detailed Federal and state tax information used for calculating employee withholding amounts. Tax tables are updated periodically.
terms
See credit terms.
transaction
An entry that affects the balance of accounts.
trial balance
A report showing all the activity for an account or accounts within a selected date range. It shows the balance of the account at the beginning of the date range, the activity within the date range, and the balance at the end of the date range. A trial balance is useful for checking your entries before performing your period-end processing.
U
undeposited funds account
The linked account into which individual cash-receipts transactions are recorded when not credited directly to checking or credit card accounts. Amounts from individual transactions in the undeposited funds account are grouped together. When deposited, they are recorded as a single bank deposit transaction on the bank or credit card statement.
unrealized losses and gains
Potential changes in the value of overseas transactions when dealing in multiple currencies; affects only open (unpaid) transactions.
User IDs
A unique identification code assigned to each user of the company file. Each user must enter an ID. User IDs are the basis for the software’s security system, and can be used keep track of the actions of each person who performs tasks that affect the company file.
V
vendor
Someone from whom you buy goods or services. You must enter vendor details in a vendor card before you can record a purchase.
vendor debit
When you return goods to a vendor, you need to correct your records to record the return. To do this, you can create a vendor debit. A vendor debit is a transaction with a negative balance for the goods you returned. A vendor debit is also automatically created if you overpay your account. A vendor debit is settled by recording a vendor’s refund check or by applying the amount to another open bill for the same vendor.
verifying
The process of checking a company file for errors to catch minor inconsistencies in the file before they cause serious problems. The Verify Data File feature accomplishes this.
W
wildcard
A character used to further define search criteria in reports. Your AccountEdge software uses the asterisk (*) and the question mark (?) as wildcards.
Z
zoom arrow
An small arrow icon that enables you to view, or “zoom,“ to more detailed information about a specific card or transaction.

More help options

Top of page