THIS IS A TEST INSTANCE. ALL YOUR CHANGES WILL BE LOST!!!!
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Concept or Term | Definition | Example | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Party | look to user-manual General Glossary | ||||||||||
| Party Id | look to user-manual General Glossary | ||||||||||
ERP | look to user-manual General Glossary | ||||||||||
CRM | look to user-manual General Glossary | ||||||||||
E-Business | |||||||||||
E-Commerce | look to user-manual General Glossary | ||||||||||
MRP | look to user-manual General Glossary | ||||||||||
SCM | look to user-manual General Glossary | ||||||||||
CMMS/EAM | |||||||||||
Vendor | look to user-manual Party Glossary | ||||||||||
Supplier | look to user-manual Party Glossary | ||||||||||
Component | look to user-manual General Glossary | ||||||||||
Application | look to user-manual General Glossary | ||||||||||
| Agreement | look to user-manual Party Glossary | ||||||||||
Assets | look to user-manual Accounting Glossary | ||||||||||
| Asset Maintenance | look to user-manual Accounting Glossary | ||||||||||
Accounts Payable | look to user-manual Accounting Glossary | ||||||||||
| Accounts Receivable | look to user-manual Accounting Glossary | ||||||||||
| Accounts Payable Invoice | look to user-manual Accounting Glossary | ||||||||||
| Accounts Receivable Invoice | look to user-manual Accounting Glossary | ||||||||||
| Accrual Based Accounting | look to user-manual Accounting Glossary | ||||||||||
| Balance Sheet | look to user-manual Accounting Glossary | ||||||||||
| Budget | look to user-manual Accounting Glossary | ||||||||||
| Budget Id | look to user-manual Accounting Glossary | ||||||||||
| Budget Item | look to user-manual Accounting Glossary | ||||||||||
| Budget Role | |||||||||||
| Capital | look to user-manual Accounting Glossary | ||||||||||
| Cash Based Accounting | look to user-manual Accounting Glossary | ||||||||||
| Chart of Accounts | look to user-manual Accounting Glossary | ||||||||||
| Cost of Goods Sold | look to user-manual Accounting Glossary | ||||||||||
| Creditor | look to user-manual Accounting Glossary | ||||||||||
| Credits | look to user-manual Accounting Glossary? | ||||||||||
| Current Assets | look to user-manual Accounting Glossary | ||||||||||
| Current Liabilities | look to user-manual Accounting Glossary | ||||||||||
| Debits | One component of every accounting transaction (journal entry) is a debit. Debits increase assets but decrease liabilities and equity. | Debtor | This is a company or an individual that owes you money. | Depreciation | This is a write-off of a portion of the cost of fixed assets, such as vehicles and equipment. It is usually done annually but can be done more frequently. Depreciation is also listed as part of the expenses on the 'Profit & Loss' or 'Income Statement' | Double Entry Accounting | In this method every transaction has two entries: a debit and a credit (also called a journal entry). Debits must always equal credits. Most if not all accounting software use double entry accounting. | End of Year Rollover | At the end of the financial year the Profit & Loss accounts totals are reset to zero and the balance sheet accounts totals are carried forward into the next financial year. | Employee | An employee is a person who has an employment relationship with your Company. They will also be a 'party'. |
Employee Position Type | Employee Positions Type is a name that describes a position. You can define your own position types in Global HR Settings > Position Types. | Examples: Business Analyst, Programmer and System Administrator are position types in the demo data | |||||||||
| look to user-manual Accounting Glossary | |||||||||||
| Debtor | look to user-manual Accounting Glossary | ||||||||||
| Depreciation | look to user-manual Accounting Glossary | ||||||||||
| Double Entry Accounting | look to user-manual Accounting Glossary | ||||||||||
| End of Year Rollover | look to user-manual Accounting Glossary | ||||||||||
| Employee | look to user-manual Human Resource Glossary | ||||||||||
Employee Position Type | look to user-manual Human Resource Glossary | ||||||||||
Employment | look to user-manual Human Resource Glossary | ||||||||||
| Entity | look to user-manual General Glossary | ||||||||||
| Equity | look to user-manual Accounting Glossary | In OFBiz an Employment defines the relationship between your Company and a person who is an employee. The employment relationship tracks employee benefits, preferences, pay history, and unemployment claims and agreements. | Entity | In OFBiz the term entity represents the important business concept of data structure used to store records in the database. | Equity | This is the net worth of your business. It is also called 'Capital' or 'Owner's Equity. Equity is made up of investment in the business by the owners plus any profits that the business has made that hasnt been taken out. | |||||
| Fixed Assets | These are assets that are generally not going to be converted to cash within a year. | Example: Manufacturing equipment or vehicles. | |||||||||
| Fulfillment | In the Human Resources application, a fulfillment associates a person with a position. A person can fulfill more then one position and a position can have more then one person. | ||||||||||
| General Ledger | This is a collection of different types of accounts (balance sheet, income, expense) that are used to keep the accounting records of a business. A general ledger works with double entry accounting and journal entries for each transaction. | ||||||||||
| Income Accounts | These are the accounts that are used to keep track of your sources of income. | Examaple: Sales, Consulting Income or Interest. | |||||||||
| Income Statement | This is also called a Profit and Loss Statement' or a 'P&L'. It lists the income, expenses, and net profit (or loss) for the business. The net profit (or loss) is equal to the total income minus the total expenses. | ||||||||||
| Intangible Asset | This is something of value that is owned by the business that cannot be touched physically. | Examples: A trademark, patent or goodwill | |||||||||
| Internal Organization | An Internal organization is a special term in OFBiz that allows you to flag the main accounting company that is being setup. It can also be used to highlight relationship between your company and any of your any departments, business units or subsidiaries. | ||||||||||
| Inventory | These are goods are held for sale to customers. Inventory is also referred to a Stock. Inventory can be items that are bought for resale or it can be products that are manufactured and sold to the customer. | ||||||||||
| Invoice Date | This is the date that the invoice was created. Normally this will be based on when products were shipped or services were provided | ||||||||||
| Invoice Due Date | This is the last possible date that payments can be made or received for an invoice without triggering any late payment penalties | ||||||||||
| Journal | This is a detailed accounting transaction that is recorded (or posted) in the general ledger. It can also be referred to as a Journal Entry. It is made up of a debit and a credit component. | ||||||||||
| Journal Entry | This is a detailed accounting transaction that is recorded (or posted) in the general ledger. It can also be referred to as a Journal. It is made up of a debit and a credit component. | ||||||||||
| Liabilities | These are the debts that your business owes to its suppliers, banks or the government. | Examples can be taxes or loans. | |||||||||
| Long Term Liabilities | These are debts that a business owes to its suppliers that are not generally due to be paid off within a year. | An example would be a mortgage payment. | |||||||||
| Net Income | This is also called 'Profit' or 'Net Profit'. It is the total income minus the total expenses | ||||||||||
| Person | In OFBiz a person is a human being as distinguished from a party group which is an generally an organization. Human beings and organizations have different attributes i.e. People have first and last names while groups have group names. Both person and party group are types of parties and share information and processes common to parties. | ||||||||||
| Position | A position is a job that can be filled by more then one person over time or at the same time. Positions are defined by a type of work. For example there may be 20 positions in an organization for a secretary. Each position is related to a department in the organization. A position can me thought of as a full-time equivalent employee (FTE). So an FTE may be assigned to one or more positions and position can be assigned to more then one FTEs (job sharing). | ||||||||||
| Profit & Loss Statement | This is also called the 'Income Statement' or 'P&L'. It is the total income minus the total expenses for the business. | ||||||||||
| Retained Earnings | These are profits from the business that have been kept or 'retained' in the business and not paid out to the owners. | ||||||||||
| Responsibility | In the Human Resources application responsibilities define duties assigned to a position. | ||||||||||
| Stock | These are goods are held for sale to customers. Stock is also referred to as Inventory. Stock can be items that are bought for resale or it can be products that are manufactured and sold to the customer. | ||||||||||
| Security Group | A security group is a collection (or a set) of application privileges that can be assigned to a user login id. A user can be assigned to multiple security groups | Examples: FULLADMIN,BIZADMIN, and, ECOMMERCE_CUSTOMER | |||||||||
| Termination Reason | In the Human Resources application,this is a name describing the cause related to a termination type | Example:Found new job, | |||||||||
| Termination Type | In the Human Resources application, this is a name for the kind of termination | Example:Resigned, Fired, layoff | |||||||||
| Trial Balance | This is a list of the general ledger accounts showing the debits in one column and the credits in another. The main objective of a trial balance is to ensure that the total credits and total debits balance (eg. total debits = total credits). It also validates that the double entry accounting is working correctly. | ||||||||||
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