Ad
related to: define booking in accounting terminology examples images free downloadGet A Free Guided QuickBooks® Setup. Automatically Track All Your Income And Expenses. Manage All Your Business Expenses In One Place With QuickBooks®.
- QuickBooks® Online
Syncs Data Across Devices. Connects
to 350+ Apps. No Download Needed.
- QuickBooks® Money
Get Paid, Manage Money, Cash Flow
Insights. No Subscription. No Fees.
- Free QuickBooks® Setup
Start Off Right With Help
Setting Up By A QuickBooks Expert.
- Invoices Made To Be Paid
Get Your Money 2x Faster
Than With Paper Invoices.
- QuickBooks® Online
Search results
Your accounting system produces financial statements; such as ... Balance sheet: Financial position as of a specific date. Income statement: Profit or loss for a stated time period. Statement of cash flows: Inflows and outflows for a month or year.
- 202KB
- 5
Discover the meaning of bookkeeping terms and accounting definitions - a quick A to Z guide helping you get smart about your business accounts.
Cash Book: A book where a business’s cash sales and purchases are entered. A cash book can also be used to record the transactions of a bank account. This is now normally computerised - but the term 'book' is still used! Cash Flow: A report which shows the flow of money in and out of the business over a period of time.
- 299KB
- 21
My Accounting Course accounting and business dictionary explains 1,000s of accounting terms in plain english. Search all our terms and learn today!
- Balance Sheet. The balance sheet is a financial statement that provides a snapshot of a company’s financial position at a specific point in time. It presents the company’s assets (what it owns), liabilities (what it owes), and shareholders’ equity (the difference between assets and liabilities).
- Income Statement. The income statement, also known as the profit and loss statement or P&L, summarizes a company’s revenues, expenses, gains, and losses over a specific period.
- Cash Flow Statement. The cash flow statement tracks the inflow and outflow of cash within a company during a specific period. It categorizes cash flows into three main activities: operating, investing, and financing.
- Statement of Retained Earnings. The statement of retained earnings, sometimes called the statement of owner’s equity, shows the changes in a company’s retained earnings over a specific period.
From understanding assets and liabilities to deciphering income statements, this glossary will enhance your knowledge and empower you to make informed financial decisions. If you cannot find the bookkeeping terms or definitions you need, please contact us, and we will try and add them.
People also ask
What is a business accounting glossary?
What accounting terms should you understand as a business owner?
Why do I need an accounting glossary?
Are accounting terms just made up for these professions?
What is sorting and entering financial data into a bookkeeping system?
How does a bookkeeping system work?
Ensuring that we have a shared understanding of accounting and auditing terms with our clients is crucial for effective and efficient communication. To help with this shared understanding, we’ve developed an alphabetical list of the most commonly used accounting words and phrases. This glossary includes those terms that business owners will ...
