Archive for November, 2009
Accounting Term of the Day – Batch Type
Batch Type -
Definition:
Batch types are identified in the Batch Status Reports, with each type of batch containing different transaction types. In Order Entry and Point of Sale, there are two types of batches, invoice transaction batches and recurring batches. In Accounts Payable, there are invoice batches and payment batches.
Published by angie on November 30th, 2009 tagged Term of the day | Comment now »
Accounting Term of the Day – Batch Status
Batch Status -
Definition:
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. A batch of transaction can be accessible and able to accept additional transactions or inaccessible because posting has been initiated.
Published by angie on November 27th, 2009 tagged Term of the day | Comment now »
Accounting Term of the Day – Batch Processing
Batch Processing -
Definition:
A transaction processing method that allows for multiple transactions to be entered and edited prior to posting.
Published by angie on November 25th, 2009 tagged Term of the day | Comment now »
Happy Thanksgiving from Cougar Mountain Software
Have a safe and happy Thanksgiving holiday!
Published by angie on November 25th, 2009 tagged Tips & Tricks | Comment now »
Accounting Term of the Day – Bank Reconciliation
Bank Reconciliation :
Definition:
A report, or the process of preparing it, that lists the outstanding items comprising the difference between the bank statement balance and the company checkbook balance.
Published by angie on November 25th, 2009 tagged Term of the day | Comment now »
Accounting Term of the Day – Balance Forward
Balance Forward -
Definition:
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.
Open Item: A line item from a receivable or payable transaction that has an amount remaining to be paid or applied.
Published by angie on November 23rd, 2009 tagged Term of the day | Comment now »
Accounting Term of the Day – Backups
Backups -
Definition:
Periodically updated copies of computer data that ensure against total loss of data from a catastrophic event.
Published by angie on November 20th, 2009 tagged Term of the day | Comment now »
Accounting Term of the Day – Audit Trail
Audit Trail -
Definition:
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.
Published by angie on November 19th, 2009 tagged Term of the day | Comment now »
Accounting Term of the Day – Audit Process
Audit Process -
Definition:
An accounting activity involving the independent review of accounting records to ensure accuracy of those records. The audit process is aimed at finding any deviations from generally accepted accounting principles.
Published by angie on November 18th, 2009 tagged Term of the day | Comment now »
Cougar Question:Set Up New Employee with Multi-tax Codes
The following is a question from a Cougar Mountain customer.
How do I set up a new employee with multi-tax codes to get different state tax information on their W2’s?
Tax Information Tab – You can select the Tax Information tab to edit the tax status of an employee currently displayed in the Employee window. The [...]