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
Something to which transactions are assigned. Accounts in software are in one of eight categories:
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Asset
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Liability
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Equity
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Income
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Cost of sales
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Expense
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Other income
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Other expense
Accounts are classified as header or detail. Transactions are assigned directly to detail accounts. Header accounts are used to summarise and group 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 number
The account number identifies an account. 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, Expenses, Other Income, Other Expenses.
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.
accounting period
A part of your financial year. AccountEdge treats each calendar month as a separate accounting period. Additionally, AccountEdge 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 someone else 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. 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)
This is a method of accounting which records sales and purchases at the time they’re delivered, not at the time they’re paid for. This is the opposite of the cash method of accounting.
accrued expenses
These are expenses for goods or services received but not yet paid.
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: 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.
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: Bank Deposit
Entries in the Bank and Deposit Adjustments window account for details that would prevent a bank reconciliation if omitted. An example is a fee charged by a credit card processor.
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 authorised to create new User IDs.
ageing: payables
The number of days between receiving a bill from a supplier and an ageing date (usually today).
ageing: receivables
The number of days between invoicing a customer and an ageing date (usually today).
allocation accounts
In AccountEdge when writing a cheque or recording a payment, the allocation accounts are the expense, income, etc., accounts that balance the transaction.
audit trail
A list of the transactions that make up the balance of an account or accounts.
auto-build
The process of combining two or more inventoried items, or ‘components’, to create another inventoried item, known as a ‘finished item’.
assets
Assets are things you own. Your bank account is an asset. So is your computer. 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. Assets normally have a debit balance.
average cost method
The cost method to value an 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. Many businesses create a contra-asset account to approximate the value of their bad debt. That way, they have a clearer picture of the actual value of their assets.
balance
The sum of all the money added to and subtracted from an account.
balance sheet
The balance sheet is a financial snapshot of a company’s position at a particular time. A balance sheet lists 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 always equals the total of the equity accounts.
bill
The record of a supplier’s invoice.
billing unit
A 1, 6, 10, 12, 15 or 30 minute measure that you define in the System tab of the Preference window for use in time billing for hourly activities, rather than whole hours. Whether or not you use billing units, 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 analysing actual performance against planned performance.
build item
The process of transferring item quantities after finished items are created; also, the change in quantity.
C
card
A record of contact information and other details of customers, suppliers, employees and personal acquaintances.
cash drawer
Where the money is kept between leaving the customers’ hands and being deposited in the bank. Many businesses set up their cash drawer as a bank account.
cash flow
The net flow of money in minus money out over a selected date range.
cash method (basis)
The opposite of the accrual method of accounting. The cash method records the sale and purchase of goods and services at the time they’re paid for, not when they’re delivered.
category
A category is an entity for grouping transactions. For example, 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 cleared when your bank adjusts your account balance for it.
closed period
An accounting period in which all entries are completed. AccountEdge software does not require that you actively close a period. However, in Preferences 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.
comma-separated text file
A file format in which fields are separated by commas. Files in this format can usually be imported into MYOB 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 MYOB software for 90 days in trial-mode. After this time, you will be unable to enter any changes until the file is activated.
company information
Found in AccountEdge software’s Setup menu, your company information contains your company’s name, address, tax information and information about your company’s financial 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 conversion month is the earliest month in the financial year for which transactions are to be recorded. For example, suppose you purchase AccountEdge in October but want to record transactions dated from 1 September. In this case, your conversion month is September. The conversion month determines the opening balances you will enter when you set up your company file.
cost item
The cost of an inventory item. AccountEdge uses average cost. That is, the total cost of all your purchases for a particular item currently on hand divided by the number of items on hand.
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. Your expenses are subtracted from your gross profit to produce net profit. You are not required to use Cost of Sales accounts.
credit amount
Appears on the right side of the ledger (a debit amount occupies the left side). 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 which prevents recording further sales orders or invoices for the customer. 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 invoice
A credit invoice is a sale with a negative balance due. Usually caused by a return or adjustment, a credit invoice is settled by writing a refund cheque or applying the amount to another open invoice.
credit terms
Terms are the agreed upon rules governing the number of days between delivery and payment discounts for early payment and penalties. You can set default terms for all customers.
creditors
A creditor is someone to whom you owe money. See also accounts payable.
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 are called current liabilities. When recording a liability that is to be paid over a long period, many accountants split it into two liabilities. The part that is to be paid off within the next year is entered as a current liability; the remaining is entered as a long-term liability.
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 financial year. Current year earnings are kept as a running total as the financial year progresses. When you start a new financial year, current year earnings are reset to zero when its balance is moved into the account called Retained Earnings.
custom fields
Fields that can be assigned names to customise 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. In AccountEdge software, you must enter a customer card before you record a sale.
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
Appears on the left side of the ledger (the credit amount occupies the right side); 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 assets and expense accounts.
debit purchase
A debit purchase is a purchase with a negative balance due. Usually caused by a return or adjustment, a debit purchase is settled by recording a supplier’s refund cheque or applying the amount to another open bill.
debtors
A debtor is someone who owes you money. See also accounts receivable.
deduction
Any amounts other than taxes that are subtracted from an employee’s gross pay.
delivery status
The means by which you send a form to a customer, employee or supplier. 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 supplier 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 suppliers
Advances paid to suppliers for goods or services not yet delivered.
depreciation
The expense allocation of the cost of an asset over a period of time. Most accountants create a contra-asset account to track the depreciation of an asset. See also contra account. 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 accounts
An account to which transactions can be assigned.
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 supplier or customer arrangement.
discount days
Discount days are 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 will equal the total of your equity accounts.
E
earnings
Income minus cost of sales and expenses. See also current year earnings.
employer expenses
Your company’s costs of having employees. They are calculated on employees’ paycheques, 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.
entitlements
Hours that accumulate on paycheques; used to pay special wages, such as holiday or sick pay.
equity
This is a company’s net worth. The equity of a company equals its assets minus its liabilities. Equity is an account type in AccountEdge software. 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 in AccountEdge software. 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
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.)
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 MYOB 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.
financial year
The 12-month period you use to define your accounting year. You AccountEdge software does not require that it match the calendar year. AccountEdge also provides an optional 13th period for making year-end adjustments that you do not want to affect a particular month.
finished item
An item that has been built ready for sale from its component items.
fixed assets
Fixed assets are assets that have a relatively long life. Your buildings, cars and computers are fixed assets. Fixed assets are usually depreciated; 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 cheques. Documents such as labels, personalised 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 expense.
general ledger
This is where all your account information—sales, purchases, inventory, cash in, cash out—come together. You draw your financial statements (balance sheet and income statement) from the general ledger.
gross profit
Gross profit is your income minus cost of sales.
H
header account
A header account in AccountEdge software 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 organising income, costs, expenses and profit or loss in larger, more comprehensive categories than individual jobs.
historical balance
The balance of an account prior to converting your records to AccountEdge software. You are not required to enter historical balances in AccountEdge software. 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 MYOB software.
historical sale
A sale that had a current balance due on the first day of the month in which you began using your MYOB 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 myobplog.txt) 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 MYOB software 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 or item and you do not want it to appear in Select From Lists, you can make it inactive. The record and it’s history still exists and can be manually added to a transaction. Items and cards can be made active again at any time.
income
Revenue from the sale of goods or services. Income is an account type in AccountEdge software. 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’ accounts are added to operating profit and ‘other expense’ accounts 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
Physical items kept for possible sale to a customer. Most accountants record an inventory’s value in a current asset account.
inventory adjustment
The process of changing the quantity of an inventoried item to match the actual quantity on hand. This term also means the change in quantity.
invoice
The written 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
A job is work for which you wish to track income and expenses. In AccountEdge software, 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 journal is a tool for organising 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
Liabilities are things you owe. Your working capital loan is a liability. Your accounts payable, what you owe someone for a purchase, is also a liability. 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, nominal journal entry).
linked account
Linked accounts are what AccountEdge software uses to post your inventory, sales and purchase transactions to the proper account. When, for example, you link your receivables account, you are telling AccountEdge software which account to post the balance due from a sale.
location
A record of a physical location where stocked 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 can be locked using a security option in the Preferences window.
long-term liability
Something you owe 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
Miscellaneous purchases are used in AccountEdge software to record non-item purchases that do not require a printed purchase order.
miscellaneous sales
Used in AccountEdge software 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 simultaneously to prevent different pieces of data from “colliding” into each other, which could seriously damage the company file.
N
negative on-hand quantity
Negative on-hand quantity is stock 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 accounts minus the sum of your expense and cost of sales accounts.
net profit
The total of all income accounts minus the sum of your expense and cost of sales accounts. Also called net income.
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 personalised letters using a compatible word processing program.
OfficeLink template
One of the special Excel templates that are installed if you indicate that you use Microsoft Excel. Each Excel template is used to display a specific report in Excel. This term also refers to the personalised letter templates that are designed to work with word processing software.
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 at the start of the first day of your conversion month.
operating profit
This is your profit before considering Other Income and Other Expense.
optimising
The process of removing unused areas in the company file and keeping your accounting software running in top form. You can use the Optimisation Assistant to complete this process.
other expenses
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 interest income. ‘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, it is out of balance. AccountEdge software does not allow you to record an out-of-balance transaction.
P
paid-up capital
The amount of money paid by shareholders in excess of the par value of the shares.
payables
What you owe someone else for items or services delivered. See also accounts payable.
posting
Transferring a journal entry to the General Ledger.
preferences
A variety of setup options used to customise 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.
profit & loss statement
See income statement.
profit centre
A subset of your business for which you want to track income and expenses. In AccountEdge software profit centres are called ‘jobs’.
promised date
The date a pending sale or pending purchase is due to be delivered. If a pending sale is not delivered as of its promised date, a reminder is posted to your To Do List.
purging
The act of erasing old data. AccountEdge allows you to purge journal entries, closed sales, closed purchases and contact logs.
Q
quote
An estimate you provided to one of your customers or received from one of your suppliers. A quote doesn’t create a transaction, so it has no impact on your financial records or stock levels. No payments can be applied to a quote.
R
realised 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, like invoices and bills, for which the journal entry is not immediately obvious.
receivables
What someone else 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 your accounting data. For example, information about a single customer is stored as one record.
recurring transaction
An accounting entry that is made periodically, such as 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 reopening a backup company file.
retained earnings
Money from previous years earnings that has been left in the company. At the end of a financial year any money earned (or lost) during the financial 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 in AccountEdge software. Income accounts usually carry a credit balance.
reversing
The process of cancelling 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.
settle a credit invoice
When someone returns something, and you record an invoice that has a negative balance due, it is called a credit invoice. Paying off this negative amount is called settling a credit invoice.
settle a debit purchase
When you return something to a supplier, and you record a purchase with a negative balance due, it is called a debit purchase. Paying off this negative amount is called settling a debit purchase.
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.
shareholders’ 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).
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.
supplier
Someone from whom you buy goods or services. In AccountEdge software you must enter a supplier card before you can record a purchase. See also accounts payable.
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
In this file format, fields are separated by tab spaces. Files in this format can be opened by most word processing and spreadsheet software and can usually be imported into MYOB software.
tax table
A set of detailed tax information used for calculating employee withholding amounts. Tax tables are updated periodically.
terms
Terms are the agreed upon rules governing the number of days between delivery and payment, discounts for early payment and penalties for late payment.
transaction
An entry in AccountEdge software that affects the balance of accounts.
trial balance
This is 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 prior to doing your period-end processing.
U
undeposited funds account
The linked account into which individual cash-receipts transactions are recorded when not credited directly to cheque 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.
unrealised 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 to keep track of the actions of each person who performs tasks that affect the company file.
V
verifying
The process of checking a company file for errors to detect minor inconsistencies in the file before they cause serious problems.
W
wildcard
A character used to further define search criteria in reports. AccountEdge uses the asterisk (*) and the question mark (?) as wildcards.
Z
zoom arrow
An icon that allows a user to review, or “zoom to“ more detailed information about a specific topic, such as a transaction.

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