Understand words used in QixCount
Look up the accounting and workspace terms used in these guides.
On this page
These definitions explain how the terms are used in QixCount. They help you read screens and guides; they do not determine the accounting treatment for a particular transaction.
Workspace and documents
| Term | Meaning |
|---|---|
| Business or workspace | The business or organization's books you enter after signing in. Your account can belong to more than one. |
| Edition | General or Nonprofit, chosen for a business. |
| Owner | A business member with full business access and owner controls. |
| Customer | A contact you bill with an invoice. |
| Vendor | A contact associated with bills for purchases. |
| Invoice | A document recording amounts billed to a customer. |
| Bill | A document recording amounts owed to a vendor. |
| Balance due | The amount still outstanding on an invoice or bill after the recorded adjustments and allocations. |
| Accounts receivable (A/R) | Amounts customers owe. The General dashboard summarizes outstanding invoice balances. |
| Accounts payable (A/P) | Amounts owed to vendors. The General dashboard summarizes outstanding bill balances. |
| Aging | Outstanding balances grouped by how their due dates compare with the report date. |
Books and posting
| Term | Meaning |
|---|---|
| Account | A named category with a code and a type: asset, liability, equity, revenue or expense. |
| Chart of accounts | The list of accounts used to categorize the business's financial entries. |
| Journal entry | A dated accounting record containing debit and credit lines. |
| Debit and credit | The two sides of a journal entry. Their totals must balance for posting. |
| Draft | A saved entry that has not posted. Draft journal lines are excluded from account balances. |
| Posted | Recorded in the accounting balances through the entry's journal lines. |
| Reversal | A separate posted entry that swaps an original entry's debits and credits. |
| Fiscal year | The reporting year beginning on the business's configured fiscal start date. |
| Fiscal period | A dated period whose open, closed or locked state controls posting. |
| Net income | Revenue less expenses for a selected period. |
Nonprofit coding
| Term | Meaning |
|---|---|
| Fund | A code and name for tracking resources by purpose. |
| Program | A code and name used to track a program in financial coding. |
| Net asset class | Coding with donor restrictions or without donor restrictions. This is separate from the fund. |
| Functional category | Expense coding for program services, management and general, or fundraising. |
| Account mapping | An approved account choice for a Nonprofit accounting purpose, with default functions for expense accounts. |
Continue with Accounting basics for owners or Your first week with Nonprofit.