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Accounting Terminologies
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.. glossary::

   Journal

     A journal is like a folder in which you record all transactions
     of the same type: all the statements of a bank account, all
     customer invoices, all supplier bills. It's used to organize
     similar transactions together.

   Payment Terms

     Payment terms describe how and when a customer invoice (or
     supplier bill) should be pay over the time. Example: 30% direct
     payment, balance in two months.

   Bank Reconciliation

     Bank reconciliation is the process of matching your payment lines
     with existing journal items or creating new journal items on the
     fly.

   Reconciliation

     Journal items reconciliation is the process of linking several
     journal items together like an invoice and a payment. This allows
     to mark invoices as paid.

   Deposit Ticket

     Deposit tickets group several payment orders (usually checks)
     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.