Glossary
Look up the words used in QixCount. These definitions don't decide the accounting treatment for a particular transaction.
A
- Account
- A named category with a code and a type: asset, liability, equity, revenue or expense.
- Account mapping
- An approved account choice for a Nonprofit accounting purpose, with default functions for expense accounts.
- Accounts payable (A/P)
- Amounts owed to vendors. The General dashboard summarizes outstanding bill balances.
- Accounts receivable (A/R)
- Amounts customers owe. The General dashboard summarizes outstanding invoice balances.
- Aging
- Outstanding balances grouped by how their due dates compare with the report date.
B
- Balance due
- The amount still outstanding on an invoice or bill after the recorded adjustments and allocations.
- Bill
- A document recording amounts owed to a vendor.
- Business or workspace
- The business or organization's books you enter after signing in. Your account can belong to more than one.
C
- Chart of accounts
- The list of accounts used to categorize the business's financial entries.
- Customer
- A contact you bill with an invoice.
D
- 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.
E
- Edition
- General or Nonprofit, chosen for a business.
F
- Fiscal period
- A dated period whose open, closed or locked state controls posting.
- Fiscal year
- The reporting year beginning on the business's configured fiscal start date.
- Functional category
- Expense coding for program services, management and general, or fundraising.
- Fund
- A code and name for tracking resources by purpose.
I
- Invoice
- A document recording amounts billed to a customer.
J
- Journal entry
- A dated accounting record containing debit and credit lines.
N
- Net asset class
- Coding with donor restrictions or without donor restrictions. This is separate from the fund.
- Net income
- Revenue less expenses for a selected period.
O
- Owner
- A business member with full business access and owner controls.
P
- Posted
- Recorded in the accounting balances through the entry's journal lines.
- Program
- A code and name used to track a program in financial coding.
R
- Reversal
- A separate posted entry that swaps an original entry's debits and credits.
V
- Vendor
- A contact associated with bills for purchases.