Update terminologies.rst

Mostly a few grammar changes to help the translation into English.

accounting/overview/main_concepts/terminologies.rst

@@ -14,79 +14,88 @@ Accounting Terminologies
    Payment Terms
 
      Payment terms describe how and when a customer invoice (or
-     supplier bill) should be pay over the time. Example: 30% direct
+     supplier bill) should be paid over the time. Example: 30% direct
-     payment, balance in two months.
+     payment, balance due in two months.
 
    Bank Reconciliation
 
-     Bank reconciliation is the process of matching your payment lines
+     Bank reconciliation is the process of matching transactions from your bank 
-     with existing journal items or creating new journal items on the
+     records with existing journal items or creating new journal items on the
-     fly.
+     fly. It is a process of verification to ensure that your bank and your 
+     records in Odoo say the same thing.
 
    Reconciliation
 
      Journal items reconciliation is the process of linking several
-     journal items together like an invoice and a payment. This allows
+     journal items together like an invoice and a payment. This allows you
-     to mark invoices as paid.
+     to mark invoices as paid. It is also useful when comparing values of 
+     'goods received not invoiced' and 'goods shipped not billed' accounts.
 
    Deposit Ticket
 
      Deposit tickets group several payment orders (usually checks)
-     that are deposited together at the bank. This allows an easy
+     that are deposited together at the bank at the same time. This 
-     reconciliation with the bank statement line if the line has one
+     allows an easy reconciliation with the bank statement line if 
-     line per deposit.
+     the line has one line per deposit.
 
    Journal Entry
 
      A journal entry is an accounting transaction,
      usually related to a financial document: invoice, payment,
      receipt, etc. A journal entry always consists of at least two
-     lines. The sum of the credits of all journal items of a journal
+     lines, described here as journal items, which credit or debit 
-     entry is equal to the sum of their debits.
+     specific accounts. The sum of the credits of all journal items 
+     of a journal entry must be equal to the sum of their debits 
+     for the entry to be valid.
 
    Journal Item
 
-     A line of a journal entry, with a debit or credit
+     A line of a journal entry, with a monetary debit or credit
-     associated to an account.
+     associated with a specific account.
 
    Analytic Accounts
 
      Sometimes called **Cost Accounts**, are
-     accounts that are not part of the chart of account and that
+     accounts that are not part of the chart of accounts and that
-     allows to track costs and revenues. Analytic account are usually
+     allow you to track costs and revenues. Analytic accounts are usually
-     structured by projects, departments, etc. Every journal item is
+     grouped by projects, departments, etc. for analysis of a company's 
-     posted in a regular account in the chart of account and can be
+     expenditures. Every journal item is posted in a regular account 
-     posted to an analytic accounting for reporting purposes.
+     in the chart of account and can be posted to an analytic account 
+     for the purpose of reporting or analysis.
 
    Analytic Entries
 
-     Cost or revenues posted to analytic accounts,
+     Costs or revenues posted to analytic accounts,
      usually related to journal entries.
 
    Sales Receipt
 
      A receipt or other slip of paper issued by a store
-     or other vendor showing where a purchase was made and also the
+     or other vendor describing the details of a purchase (amount, 
-     amount, date, department, etc. Sales receipt are usually used
+     date, department, etc.). Sales receipt are usually used
-     instead of invoices if the sale is paid in cash in the store.
+     instead of invoices if the sale is paid in cash in a store.
 
    Fixed Assets
 
-     Property owned by the company. Odoo Asset management is used to manage
+     Property owned by the company, usually with a useful life greater 
-     the depreciation / amortization of the asset over the time.
+     than one reporting period. Odoo Asset management is used to manage
+     the depreciation / amortization of the asset over the time. Typical 
+     examples would be capital equipment, vehicles, and real estate.
 
    Deferred Revenues
 
-     Are used to recognize revenues of sales of
+     Are used to recognize revenues for sales of 
      services that are provided over a long period of time. If you
-     sell a 3 years maintenance contract, you can use the deferred
+     sell a 3 year maintenance contract, you can use the deferred
-     revenue mechanism to recognize 1/36 of the revenue every month.
+     revenue mechanism to recognize 1/36 of the revenue every month 
+     until the contract expires, rather than taking it all initially 
+     or at the end.
 
    Fiscal Position
 
      Define the taxes that should be applied for a
      specific customer/vendor or invoice. Example: If some customers
-     benefit for specific taxes (government, construction companies,
+     benefit from specific taxes (government, construction companies,
      EU companies that are VAT subjected,…), you can assign a fiscal
      position to them and the right tax will be selected according to
      the products they buy.