Business finance glossary

Accounts receivable

Money customers still owe a business for invoices already issued.

Reconciliation

Matching payments and bank transactions with invoices, expenses or accounting records.

Cash flow

The movement of money into and out of a business during a period.

Double-entry bookkeeping

An accounting method where every transaction has balanced debit and credit effects.

VAT summary

A report showing relevant output and input tax amounts for a reporting period.