Accounting definitions glossary: Simple explanations for small businesses

Running a business can be challenging and one of the main issues is understanding all of the accountancy jargon that you need to know to do your accounts. Our glossary explains the main accounting definitions in simple language – from assets to working capital and tells you how it effects your accounts in Sage One.

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

A

Assets

B

Balance Sheet

Bank Reconciliation

C

Capital

Cash flow projection

Chart of accounts

Credit note

CSV

D

Debtor

Dividends

Drawings

E

EC Sales

G

Gross profit

I

Income tax

Invoice

J

Journals

M

Margin

N

Nominal Accounts

Nominal Code

Nominal Ledger

O

Opening balance

P

Profit and loss

Purchase order number

R

Recurring Entries

Reverse Charge

S

SSP

T

Trial Balance

V

VAT

W

Working capital

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