The period of time covered by an income statement. One year is often the accounting period for financial reporting, but financial statements are also prepared by most organizations for each quarter and each month.

The practice of recording revenue in the period in which it is earned and recording expenses in the period in which they are incurred. The effect on the business is recognized as goods or services are rendered or consumed, rather than when cash is received or paid.

In Accounts Receivable, a credit memo that reduces the amount remaining to be paid on a specific debit item, instead of merely reducing the total amount owed on the account.

In Accounts Payable, a debit memo that reduces the amount remaining to be paid on a specific credit item, instead of merely reducing the total amount owed on the account.

In Accounts Receivable or Sales modules, a payment that reduces the amount remaining to be paid on a specific debit item, instead of merely reducing the total amount owed on the account.

A six-character alphanumeric code attached to vendor master records that directs how transactions are posted to General Ledger accounts and also how they are aged.

A six-character alphanumeric code attached to customer master records and used to categorize customers. The AR Code is also used to specify a GL Accounts Receivable account.

The economic resources owned by a business for the purpose of conducting business operations.

The documentation of transactions for use by consumers and auditors of financial statements to substantiate the authenticity and accuracy of the financial statements. Also, a report available in the General Ledger module that provides a chronological listing by account of the entries posted to each account.

Periodically updated copies of computer data that ensure against total loss of data from a catastrophic event. Backups can be automatic or manual.

An AR customer type specified by the AR Code in which all open invoices are compacted into a single monthly balance at the end of each month. See also Open Item.

A report, or the process of preparing it, that lists the outstanding items comprising the difference between the bank statement balance and the organization checkbook balance.

A transaction processing method that allows for multiple transactions to be entered and edited prior to posting. You can also choose to use one or multiple batches.

The activity status associated with each batch of transactions. The status is viewable through the Batch Status Report for modules set up for multiple batch processing. You can access a batch until it is posted.

Batch types are identified in the Batch Status Reports, with each type of batch containing different transaction types. The different modules have different batch types.

Benefit earned by employee such as vacation leave, sick leave, insurance, bonus, etc. Benefits do not increase the amount of the employee’s paycheck.

The CMS Date (or system date) is the date that all modules and software use by default. This date is set each time the software is opened.

The practice of recording revenue when received in cash and recording expenses when they are paid in cash.

A statement of sources of cash receipts and purpose of cash disbursements used to explain the change in the Cash account balance.

An indicator that identifies a transaction as a cash transaction and determines which General Ledger Cash account is affected.

A list of the general ledger accounts and corresponding account numbers used to record the events of a business.

In Inventory, the process of deducting the quantity of stock items that have been included in a transaction that has been saved but not posted from the available quantity of that stock item. Once the sales transaction has been posted, the committed quantity is subtracted from the on-hand quantity, the on-hand quantity is updated, and the committed quantity is reset to zero. For example, if there are 20 widgets in stock and the clerk sells 4 over the course of the day, then the on-hand quantity of the item will still reflect 20, but the Available quantity (which is what appears when you open the stock item lookup when selling an item) will reflect 16, since 4 have been committed. Once the transactions for the day have been posted, the committed quantity is reset to zero, and the on-hand quantity is adjusted to 16, which will match the Available Quantity until more transactions which include that stock item are saved.

Financial statements presenting the combined financial position and operating results of affiliated organizations.

Help that is relevant to the current active window. It includes information about all the options in the window. A Help button is available in some windows and the default Help key is F1. (See also the Task-based Help definition).

A ledger account which is deducted from a related account.

An account with a credit balance that offsets an asset account to reflect the appropriate balance sheet value for the asset.

An account with a debit balance that offsets a liability account to reflect the appropriate balance sheet value for the asset.

In Job Cost, you enter cost activity to keep track of the progression of your jobs. Activity posts to all affected modules.

In Job Cost, Cost Codes allow you to track activity and cost for specific parts of your jobs. They help you maintain accurate budgets, effective planning, and stay up-to-date on your projects.

An amount entered in the right-hand column of a ledger account. A credit decreases an asset or expense account balance, and increases a liability, equity, or income account balance.

A document issued that reduces the amount of a receivable or increases the amount of a payable. These are used to record returned goods, defective goods or services, miscellaneous charges or credits, and error corrections.

For Denali, the database refers to the SQL server that stores the software tables. The tables store all of your organization data.

A debit increases an asset or expense account balance, and decreases a liability, equity, or income account balance.

Amount deducted from pre-tax or after-tax wages.

A value automatically placed in a data entry field that is saved unless it’s overridden to a different value.

A Code that defines the departments within an organization. Department Codes determine which general ledger income accounts are affected by transactions.

The type of transaction item entered on a particular line of a transaction document.

A two-part code established in the Sales module which specifies a discount percentage by inventory item and customer. One half of the code is entered on the customer master record and the other half is entered as part of each Inventory master record.

A system in which the total dollar amount of debits must equal the total dollar amount of credits.

An asset account that indicates the amount of deposits held in another account.

A liability account that indicates the amount payable to another account.

Wages, salary, or other compensation.

A listing of entered but not posted transactions for checking the accuracy of the data entry work.

Electronic Funds Transfer. The electronic transfer of funds from one bank account to another in an encrypted format. Charges are made automatically through the Federal Reserve’s automated Clearing House (ACH).

Electronic Federal Tax Payment System; must be used to make electronic tax payments to the IRS.

Employer Identification Number; This number is distributed by the IRS and is your business identity; also called Tax Identification Number.

Method of saving data in a report format to submit the report electronically, rather than on paper.

Setting aside an amount as a planned expense or obligation.

See Owner’s Equity.

The cost of goods or services used for the purpose of generating revenue.

The process of allocating indirect expenses of a business among departments.

The result when the quantity invoiced is multiplied by the price per unit. The total for a detail line on an invoice.

Federal Insurance Contributions Act. The tax paid equally by employee and employer, commonly known as Social Security Tax.

Also known as “first in, first out”, this is an inventory valuation method based on the assumption that the first item acquired is the first item sold, and that the remaining items are the most recently acquired.

A product that is created by combining other items. In Inventory, this is called a Kit. The Finished Good has completed the manufacturing and/or assembly process and is ready for sale.

Employer’s Annual Federal Unemployment (FUTA) Tax Return.

Employer’s Quarterly Federal Tax Return.

Federal Unemployment Tax (See Form 940).

Six-character alphanumeric entries found in various codes throughout the accounting modules that are used in the Interface Table to specify an associated general ledger account.

A sales invoice that is retained in the batch for further action. A hold transaction remains in the hold batch and does not post until it is retrieved and changed to an invoice.

Transactions that were posted in any module.

A six-character alphanumeric code attached to IN Stock master records that directs how transactions are posted to General Ledger accounts and the inventory valuation method.

Revenue resulting from the operations of a business.

It specifies which general ledger accounts are affected by a transaction.

Often used interchangeably with GL Key. See GL Key.

A cumulative table of Interface Codes that directs posting of transactions from the Sales and Accounts Receivable modules to the appropriate general ledger accounts. It is similar to a Lookup table that contains every possible set of transaction circumstances and the accounts affected by transactions conducted under each set of circumstances.

Indicators set within the Module Preferences window of each module that specifies communication of posted information between modules.

A Purchase Order transaction that invoices items that were previously received into Inventory but not invoiced.

An itemized statement of goods or services sold that shows quantities, prices, total charges, payment terms, and sales tax. An invoice might also include many other items of information such as item description. The invoice serves as the original evidence of ownership transfer for both the buyer and seller.

This is a transaction created in General Ledger that adjusts particular accounts in your chart of accounts.

This refers to a method of selling a group of inventory items for one price. For example you could create a pizza kit that might include the dough, sauce, and grated cheese. A kit is a group of stock items sold together as a single item.

The costs of acquiring inventory besides the purchase cost. Sales tax and freight charges can be landing costs. Discounts can also be considered landing costs depending on your business.

The claims against the assets of a business. The debts or financial obligations of a business.

Also known as “last in, first out” and is an inventory valuation method based on the assumption that the last item acquired is the first item sold, and that the remaining items are the first acquired.

The different types of transactions that can be documented on a detail line of an invoice.

The tables that hold the records containing general information about the participants or objects of transactions within a module. In General Ledger the master table contains the account names, numbers, and balances. In Accounts Receivable the master table contains the customer names, numbers, balances, and other general information. In Inventory the master table contains the inventory item descriptions, stock numbers, and cost and quantity information.

One of the functional applications of Denali. The modules are Controller, General Ledger, Accounts Receivable, Accounts Payable, Sales (Order Entry/Point of Sale), Inventory, Job Cost, Payroll, Purchase Order, and Bank Reconciliation.

A set of Sales Tax Codes that are set up to charge tax on a sale for more than one taxing agency. The total for all agencies is assessed on the sale, and the amounts for the individual agencies are recorded separately.

A code that defines product categories that are not inventory items.

A line item from a receivable or payable transaction that has an amount remaining to be paid or applied.

In Payroll, units worked at other than the regular pay rate, such as overtime units.

Checks issued on a bank account that have not been presented to the bank for payment.

The resources invested in a business by the owner plus profits retained in the business. The amount by which the assets of an organization exceed liabilities.

In Accounts Payable, an invoice paid to a vendor that does not have a vendor record established in the AP module. In Purchase Order, an order made out to a vendor that does not have a vendor record established in the AP module. In the Sales module, a paid out transaction is one in which cash is removed from the drawer to fund a miscellaneous purchase.

Occurring at regular time intervals.

In Job Cost, phases are groups of Cost Codes that make up different parts of your jobs. As you complete phases, you enter cost activity.

The process of recording the effects of transactions to other integrated modules and General Ledger. Posting creates a history of your transactions.

Expenses, such as rent and insurance, which are paid in advance. The unused portion of prepaid expenses are a balance sheet asset.

The amount by which the revenue from business operations exceeds the cost of operations.

A transaction batch that holds template invoices that can be generated repeatedly. It is used for periodically recurring transactions without having to retype the information each time.

The portion of owner or stockholder equity that is a result of profit earned by the business.

Income that a business receives from its business operations.

Structured Query Language. This is the type of database Denali uses.

An Inventory valuation method by which the cost assigned to an Inventory item at the time of sale is a predetermined estimate. When the actual cost is recognized, any variance between standard and actual costs is posted to an inventory variance account and an expense adjustment account.

Also known as Tax Identification Number or EIN, this is the number assigned to your business by the IRS.

A code in Accounts Receivable that outlines terms for early payment discounts and finance charges. When a Terms Code is attached to a transaction, the terms specified in the code apply to the transaction.

A group of transactions that will be posted together.

Business events which can be measured in money.

A credit in Accounts Receivable or the Sales module that reduces the total amount owed by the customer, but does not reduce the amount remaining to be paid on a specific debit item. The unapplied item is an open item until the full amount is applied.

A debit in Accounts Payable that reduces the amount owed a vendor, but does not reduce the amount remaining to paid on a specific credit item. The unapplied item is an open item until the full amount is applied.

A payment in Accounts Receivable or the Sales module that reduces the total amount owed by the customer, but does not reduce the amount remaining to be paid on a specific debit item. The unapplied item is an open item until the full amount is applied.

The number by which the pay rate is multiplied to calculate gross pay. The most commonly used units in Payroll calculations are hours, but other measures of time or production can be used.

The Denali feature that imports unposted transactions from an external file. Modules that support this feature are General Ledger, Accounts Receivable, Accounts Payable, Inventory, Sales, Payroll, and Bank Reconciliation.

The means by which a computer user exchanges information with the computer. The menu and data entry screens are good examples of user interface.

The practice used to assign costs to inventory items sold.

Employee wage and tax statement, provided by the employer to the employee.

Transmittal of Wage and Tax Statements. Information filed with the Social Security Administration by the employer.

This method of inventory valuation divides the total cost of stock items available to sell by the number of units available.

Help that is relevant to the current window. It includes information about all the options in the window. A Help button is available in some windows and the default Help key is F1.