Accounting Term of the Day – Nested Tax Codes
Nested Tax Codes -
Definition:
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.
Published by angie on March 11th, 2010 tagged Term of the day | Comment now »
March 14 – Spring Forward
This is a reminder to set your clocks forward 1 hour when you go to bed on Saturday night (March 13). Daylight Savings starts at 2am on March 14.
Published by angie on March 11th, 2010 tagged Tips & Tricks | Comment now »
Accounting Term of the Day – Module
Module -
Definition:
One of the functional applications of Cougar Mountain Software for Windows. Modules available are General Ledger, Accounts Receivable, Accounts Payable, Order Entry, Point of Sale, Inventory, Payroll, Bank Reconciliation, and Data Exchange.
Published by angie on March 10th, 2010 tagged Term of the day | 2 Comments »
Accounting Term of the Day – Master Records
Master Records -
Definition:
The individual records found in a master file. General information about the participants or objects of transactions within a module.
Published by angie on March 9th, 2010 tagged Term of the day | Comment now »
Where Does your Business Stand Financially?
Contact Cougar Mountain Software with any questions about CMS Professional 2010 or Cougar Dtails, A Financial Dashboard at 800.388.3038.
Published by angie on March 9th, 2010 tagged Tips & Tricks | Comment now »
Accounting Term of the Day – Master Files
Master Files -
Definition:
The files that hold the records containing general information about the participants or objects of transactions within a module. In General Ledger the master file contains the account names, numbers, and balances. In Accounts Receivable the master file contains the customer names, numbers, balances, and other general information. In Inventory the master file contains the inventory item descriptions, stock numbers, and cost and quantity information.
Published by angie on March 8th, 2010 tagged Term of the day | Comment now »
Accounting Term of the Day – Magnetic Media (Payroll)
Magnetic Media (Payroll) -
Definition:
Method of saving data in a report format to tape or disk in order to submit the report electronically, rather than on paper.
Published by angie on March 5th, 2010 tagged Term of the day | Comment now »
Accounting Term of the Day – Line Item Types
Line Item Types -
Definition:
The different types of transactions that can be documented on a detail line of an invoice.
Published by angie on March 4th, 2010 tagged Term of the day | Comment now »
Accounting Term of the Day – Liabilities
Liabilities -
Definition:
The claims against the assets of a business. The debts or financial obligations of a business.
Published by angie on March 3rd, 2010 tagged Term of the day | Comment now »
Accounting Term of the Day – LIFO (last in, first out)
LIFO (last in, first out) -
Definition:
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.
Published by angie on March 2nd, 2010 tagged Term of the day | Comment now »