The time period for which financial information is being tracked.

The account used to track all outstanding bills from vendors, contractors, consultants, and any other companies or individuals from whom the company buys goods or services.

The account used to track all customer sales that are made by store credit. Store credit refers not to credit card sales but rather to sales in which the customer is given credit directly by the store and the store needs to collect payment from the customer at a later date.

All the things a company owns in order to successfully run its business, such as cash, buildings, land, tools, equipment, vehicles, and furniture.

An electronic banking outlet, which allows customers to complete basic transactions without the help of a bank cashier. Anyone with a credit card or debit card can access this outlet.

The financial statement that presents a snapshot of the company's financial position as of a particular date in time. The things owned by the company (assets) must equal the claims against those assets (liabilities and equity).

A card that allows customers to purchase an item using money from their bank account

The piece of paper that states the total amount owed by the customer

Money that a customer gives to buy something

Refers to the difference between the cash balance recorded in your accounting system's cash account and the amount of cash showing in your company's bank account balances.

Money that you give back to customer

All money spent to purchase or make the products or services a company plans to sell to its customers.

A card issued by a financial company giving the holder a choice to borrow money, usually at point of sale.

Money that a country uses (for example, Riyals, Dollars)