This glossary defines the terms used in DRPU Financial Accounting Software, as well as some general accounting terms.
To see terms with definition, click on following letters:
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
Account is the record of transaction in the form of credits, debits that have occurred and have an affect on an asset, liability or past, present or future revenue.
Accountancy is the measurement, statement or provision of assurance about financial information primarily used by managers or other decision makers to make sound economic decision for business management.
Accounting Equation is the foundation for the double-entry book-keeping system. Its simplest form is Assets = Liabilities + Equity.
Account Group determines which field you can configure on the master record.
Account Report is a document filled out by managers or other stock holders that details vital facts about a new client’s financial circumstances and investment objectives.
Account Statement is a record of transaction and their effect on account balance.
Administrator who creates Company and has all user rights and permission to access Company records.
Assets are valuable resources owned by a business which are acquired at a measurable money cost.
Backup that contains copy of your Company’s data.
Balance the difference between debit amount and credit amount on an account.
Balance Sheet Report a financial report that shows financial position of a business organization on a particular date. The balance sheet shows Company Assets, Liabilities and Owner’s Equity at a specific point in time.
Bill Sundry is an entity that is used to record the extra income or expenses over and above the sales and purchase amount. These are used in billing and other documents in terms of taxes.
Billing Address is the address where you would like to have bill for a purchase.
Bank Account is a record for a type of financial relationship that a Company or person has with a bank.
Bank Book records all the transaction through the bank.
Barcode is a machine readable symbol that is used to identify a product details (like price, code) in easiest way.
Books Beginning Date is the date from which Company starts to maintain its accounting records.
Business Transaction the occurrence of an economic event or a condition that must be recorded in accounting records.