From b5a95ac74da0c91b48fbea2f53098a69d3f6acf9 Mon Sep 17 00:00:00 2001 From: Martin Trigaux Date: Mon, 27 Jul 2015 14:54:20 +0200 Subject: [PATCH] [ADD] accounting: terminologies terms Written by Dare Ojo Bello (Matt O'Bell) Proofread by Johan Bosma (Onestein) --- accounting/overview/terminologies.rst | 55 +++++++++++++++++++++++++++ 1 file changed, 55 insertions(+) diff --git a/accounting/overview/terminologies.rst b/accounting/overview/terminologies.rst index 7ea1cdefe..0cd9983a3 100644 --- a/accounting/overview/terminologies.rst +++ b/accounting/overview/terminologies.rst @@ -35,3 +35,58 @@ Accounting Terminologies that are deposited together at the bank. This allows an easy reconciliation with the bank statement line if 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 + entry is equal to the sum of their debits. + + Journal Item + + A line of a journal entry, with a debit or credit + associated to an account. + + Analytic Accounts + + Sometimes called **Cost Accounts**, are + accounts that are not part of the chart of account and that + allows to track costs and revenues. Analytic account are usually + structured by projects, departments, etc. Every journal item is + posted in a regular account in the chart of account and can be + posted to an analytic accounting for reporting purposes. + + Analytic Entries + + Cost 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 + amount, date, department, etc. Sales receipt are usually used + instead of invoices if the sale is paid in cash in the store. + + Fixed Assets + + Property owned by the company. Odoo Asset management is used to manage + the depreciation / amortization of the asset over the time. + + Deferred Revenues + + Are used to recognize revenues of 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 + revenue mechanism to recognize 1/36 of the revenue every month. + + 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, + 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.