93 lines
3.1 KiB
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93 lines
3.1 KiB
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Accounting Terminologies
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.. glossary::
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Journal
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A journal is like a folder in which you record all transactions
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of the same type: all the statements of a bank account, all
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customer invoices, all supplier bills. It's used to organize
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similar transactions together.
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Payment Terms
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Payment terms describe how and when a customer invoice (or
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supplier bill) should be pay over the time. Example: 30% direct
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payment, balance in two months.
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Bank Reconciliation
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Bank reconciliation is the process of matching your payment lines
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with existing journal items or creating new journal items on the
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fly.
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Reconciliation
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Journal items reconciliation is the process of linking several
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journal items together like an invoice and a payment. This allows
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to mark invoices as paid.
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Deposit Ticket
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Deposit tickets group several payment orders (usually checks)
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that are deposited together at the bank. This allows an easy
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reconciliation with the bank statement line if the line has one
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line per deposit.
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Journal Entry
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A journal entry is an accounting transaction,
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usually related to a financial document: invoice, payment,
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receipt, etc. A journal entry always consists of at least two
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lines. The sum of the credits of all journal items of a journal
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entry is equal to the sum of their debits.
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Journal Item
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A line of a journal entry, with a debit or credit
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associated to an account.
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Analytic Accounts
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Sometimes called **Cost Accounts**, are
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accounts that are not part of the chart of account and that
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allows to track costs and revenues. Analytic account are usually
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structured by projects, departments, etc. Every journal item is
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posted in a regular account in the chart of account and can be
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posted to an analytic accounting for reporting purposes.
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Analytic Entries
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Cost or revenues posted to analytic accounts,
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usually related to journal entries.
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Sales Receipt
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A receipt or other slip of paper issued by a store
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or other vendor showing where a purchase was made and also the
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amount, date, department, etc. Sales receipt are usually used
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instead of invoices if the sale is paid in cash in the store.
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Fixed Assets
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Property owned by the company. Odoo Asset management is used to manage
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the depreciation / amortization of the asset over the time.
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Deferred Revenues
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Are used to recognize revenues of sales of
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services that are provided over a long period of time. If you
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sell a 3 years maintenance contract, you can use the deferred
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revenue mechanism to recognize 1/36 of the revenue every month.
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Fiscal Position
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Define the taxes that should be applied for a
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specific customer/vendor or invoice. Example: If some customers
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benefit for specific taxes (government, construction companies,
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EU companies that are VAT subjected,…), you can assign a fiscal
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position to them and the right tax will be selected according to
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the products they buy.
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