O'Reilly logo

Sage 50 Accounts For Dummies® 2nd Edition by Jane Kelly, ACMA

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Appendix

Glossary

Aged Creditors report: A report showing all balances owed to creditors, categorised into debts owed for 30 days, 60 days and 90 days or older.

Aged Debtors report: A report showing all outstanding balances owed to a business, categorised into amounts owed for 30 days, 60 days and 90 days or older.

Asset: Item a business owns. (See current asset; fixed asset.)

Audit trail: A list of all the transactions that occur in Sage in chronological order. Each transaction is identified by its own transaction number.

Balance Sheet: A financial report that shows a snapshot of the financial status of a business at a point in time. It identifies the business’s assets and liabilities and shows how those assets and liabilities have been funded through retained profits or invested capital.

Capital: Money invested into a business by owners or share holders.

Cash flow: The amount of cash flowing in and out of the business.

Chart of Accounts: A list of all the nominal accounts used to analyse assets, liabilities, income and expenses. It drives the format of the Profit and Loss account and Balance Sheet.

Cost: Items of expense in the accounts, such as wages costs. See direct cost.

Credit: A bookkeeping entry that increases the value of a liability or income and decreases the value of an asset or expense. It is always shown on the right side of a journal.

Creditor: Person or company to whom a business owes money.

Creditor ledger: See supplier ledger.

Current asset: An asset with ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required