Glossary

A
account	A general ledger entity that holds a detailed record of similar transactions involving a particular item, such as a source of cash or a recipient of income. supports several account types: Asset, Liability, Income, and Expense. All of a company's accounts are listed on its chart of accounts. In MYOB Acumatica, accounts are used with subaccounts, and at system setup, you choose whether account identifiers should be composed of segments. See also general ledger, chart of accounts, subaccount, and segment.
account class	A user-defined class that is used to group related accounts of the same type and that can be used in reports and inquiries for convenient grouping, sorting, and filtering of information associated with accounts. For example, you can create a class for long-term liabilities and another for middle-term liabilities.
accounts payable	A functional area of MYOB Acumatica that provides functionality for efficient management of your company’s vendors, primarily for goods and services purchased by your company. See also vendor.
accounts receivable	A functional area of MYOB Acumatica that provides functionality for efficient management of your company’s customers, primarily for goods and services sold by your company. See also customer.
home page	The first page a user sees upon signing in to the website. By default, the home page displays the documentation list, but it can be configured to display the home page dashboard. See also dashboard.
adjustment period	A financial period with the same start and end dates (and, thus, a duration of zero days) that is the last period in the financial year. An adjustment period can be added only at initial setup. On data entry forms, an adjustment period is available only when you directly type it in the Fin. Period box. See also financial period and financial year.
aging period	One of a group of time intervals used for sorting a company's open AR documents by age or its open AP documents by days outstanding. For example, aging periods may be defined as follows: -999 to 0 days past due, 1 to 30 days past due, 31 to 60 days past due, and 61 to 91 days past due.
aggregating value	A special value of a segment of a subaccount that indicates the sum of appropriate budget articles whose subaccounts have other values in this segment. By aggregating values, you can build a hierarchical structure of budget articles. See also segment and subaccount.
allocation template	A group of settings, saved as a whole, used to help you automate allocations; allocation templates can be defined using the Allocations (GL204500) form. You can create an allocation source by using input masks to specify multiple accounts and subaccounts at once, and you can set up rules for distributing the source amount over multiple accounts. See also input mask, account, and subaccount.
AP bill	A document created for each vendor invoice that includes information about the vendor, location, and currency used for the transaction. A bill may contain either line items or one summary line with a tax category specified. Some taxes are calculated for the entire document, and some are calculated for each line item, depending on each tax's Calculation Rule setting on the Taxes (TX205000) form. See also vendor, location, tax category, and tax.
AP check	A payment document created for a vendor. A separate AP check may be required for each AP document, depending on your selected configuration options. AP checks should always have zero unapplied balance; that is, the amount of a check should be exactly the amount of the bill or bills it pays for. See also vendor.
AP credit adjustment	A clearing document created to correct errors on an existing bill, or in response to a vendor's overdue charges or a debit memo. Posting a credit adjustment increases the balance of accounts payable.
AP debit adjustment	An AP document created on the Bills and Adjustments (AP301000) form for a vendor refund. It may be applied to any bills of the same vendor. Discounts cannot be taken on debit adjustments. See also vendor.
approval	The act of formally giving permission for a document to proceed to the next step in its workflow. An organization may require documents, such as purchase orders or expense claims, to be approved by authorized persons before they may be paid. Also, you can require that wiki articles be approved before they may be published. In MYOB Acumatica, you can configure approvals by assigning documents to specific persons for approvals and by giving only authorized persons access to certain processing forms. See also form.
AR credit memo	A clearing document created for damaged goods or a previous overcharging invoice. A credit memo may have one summary line or multiple line items. A credit memo may be applied against invoices, debit memos, and overdue charges. See also overdue charges.
AR debit memo	A document that adjusts the amount in one or several previous undercharging invoices. It doesn't contain a direct reference to any original invoices; if needed, you can reference the original invoice in the Description box. Debit memos may be numbered differently from invoices.
AR invoice	An itemized request for payment for goods sold or services rendered. An invoice includes the customer information, location, currency, and any reference number in the original customer document. The due date of the document is calculated based on the credit terms associated with the customer. An AR invoice may have a single summary line or multiple line items. For each line, a tax category may be specified. See also customer, location, credit terms, and tax category.
assignment map	A structure representing the hierarchy of workgroups involved in processing or approval. See also approval.
assignment rules	A set of rules you can configure—based on the properties of an entity (such as a lead or case) or a document (such as an expense claim, sales order, or purchase order)—to enable automatic assignment to appropriate employees for processing or approval. For the selected entity type, you facilitate automatic assignment of entities to workgroups and to particular users by creating an assignment map and rules based on properties of the entity or document. See also approval and assignment map.
attribute	A custom element that your company can add to forms to keep additional information about products, leads, customers, inventory items, and other entities. Attributes—which are used on various forms in the system—give you the ability to gather details that are meaningful for your business. See also form, customer, inventory item, and inventory.
attribute class	A grouping of your company's leads, opportunities, customers, or cases by a specific set of attributes. See also attribute.
authentication	The process by which establishes a potential user as valid and grants access to the system. A user must use a valid user name and password pair for successful authentication. See also user.
authorization	The process by which verifies whether a user has sufficient access rights to particular forms, elements, and actions. The system makes this determination for a user who has successfully signed in, based on the roles assigned to the user and the restriction groups that include the user as a member. See also user, form, role, and restriction group.
auto-reversing batch	A batch for which the system automatically creates another batch that reverses debit and credit entries into the next financial period; the debit entry is reversed as a credit entry and vice versa. Auto-reversing entries are used to reverse some period-end adjustments. See also batch, general ledger, and financial period.
automation schedule	A schedule defined for an processing form to direct the system to perform specific processing periodically. You can create automation schedules by using the Automation Schedules (SM205020) form. See also automation schedule
B
bank account	A cash account associated with a specific bank (which in is defined as a vendor) and with one or more linked clearing accounts. Bank charges can be configured as entry types associated with the bank account. Bank accounts generally require periodic reconciliations to be performed. See also vendor, clearing account, entry type, and reconciliation.
base currency	The currency of the environment in which the company generates and expends cash. A base currency can be the only currency used in the system or one of multiple currencies used. The base currency is the default currency for recording transactions, budgets, and other GL data, and it is used for reporting, income statement, and balance sheet calculations. For general ledger accounts denominated to a foreign currency, maintains the history of transactions and balances in both the currency of denomination and the base currency. See also general ledger and account.
base price	A price for an item set with respect to the base unit, expressed in the base currency and offered to customers of the base price class (those not associated with any specific price class by default). Base prices can be defined and maintained directly, following your company's pricing policy. See also base unit, base currency, customer, and inventory.
base unit	The unit of measure in which a particular item is tracked from the moment it is received at a warehouse or produced at one of your facilities until it is picked for shipping. Generally, the base unit is the smallest unit defined in the system for a particular item. Also, the base unit is the unit of measure used for calculating item costs. See also warehouse.
batch	A set of related transactions or journal entries that are in the same currency, refer to the same ledger, and occur in the same financial period. A batch's debit total and credit total are calculated over all the transactions. Some batches are generated by the system automatically, such as those implementing revaluations. Only balanced batches (those for which the credit total equals the debit total) can be released and posted to the specified ledger. See also journal entry, financial period, and revaluation
batch control total	A user-entered total that is used for batch status validation if it is enforced in your system—that is, if the Validate Batch Control Totals on Entry check box on the General Ledger Preferences (GL102000) is selected. A batch can be saved with the Balanced status only if the user types into this box a value that is equal to the batch's debit total and credit total amounts. We recommend that you use batch control total validation to reduce data input errors. See also batch.
budget article	An account-subaccount pair recorded in a budget ledger with a budget amount. A budget article has subarticles if its subaccount has at least one aggregating value in any segment. See also account, subaccount, aggregating value, and segment.
business account	A set of information about one of your company's vendors or customers, including its locations, contacts, and payment and shipping options. MYOB Acumatica uses this information, which is specified on data entry forms, throughout the system. Your company also has a business account to record its own locations, contacts, and shipping settings. See also vendor, customer, and location.
C
cash account	A special type of general ledger account used to record various monetary transactions in a specific currency. You can specify entry types and payment methods with which the cash account is associated. Each cash account is assigned to a specific branch. See also general ledger, account, entry type, payment method.
cash-in-transit account	An account used for cash that is being moved from one currency to another. Because cross-rates are not used in MYOB Acumatica, currency conversion is performed via the base currency with the use of the cash-in-transit account and subaccount. See also account, base currency, and subaccount.
cash discount	A deduction from the total payable amount, which is allowed if the amount owed is paid within a specified time period on or before a due date. Cash discounts available for your organization are defined by credit terms assigned to vendors, and cash discounts available for customers are defined by credit terms assigned to customers. See also credit terms, vendor, and customer
cash management	A functional area of MYOB Acumatica that you use to manage cash and bank accounts, cash transactions (including funds transfer), and bank statement reconciliations. See also cash account, bank account, funds transfer, and reconciliation.
chart of accounts	A listing of the accounts in the system to which you will record accounting transactions. The chart of accounts, which you maintain in MYOB Acumatica by using the Chart of Accounts (GL202500) form, consists of balance sheet accounts (assets and liabilities) and income statement accounts (income and expenses). The chart of accounts should follow national and industry standards while also reflecting the operations of your company. See also account.
clearing account	A cash account that temporarily holds customer payments included in a deposit. Once the money is actually deposited to the bank and the deposit is released, a batch of transactions will be generated to move the payment amounts from clearing accounts to the bank account and to record the charges incurred as expenses. See also cash account, customer, deposit, batch, and bank account.
combined subaccount	A subaccount that can be combined from multiple involved subaccounts, based on rules you create, for certain transactions; use elements with labels such as Combine Subaccount From to set up these rules. A box for a combined subaccount displays a subaccount mask, such as ––––.––.–––.––––, in accordance with the segmented structure of subaccounts defined for your company. For each segment, you can specify one of the involved subaccounts as the source of the segment value. See the Combined Subaccounts article for more information. See also subaccount and combined subaccount.
commission	A payment made to a salesperson for goods and services sold. Commission is calculated once in a commission period based on total invoice amounts or payments received, depending on your configuration choice. For each document, calculates the commission amount as a percentage. For an invoice, the commission may be split among multiple salespersons.
common settings	A functional area of MYOB Acumatica used by administrators and implementation consultants to control global system settings. Some configuration settings—such as company information, segmented keys, and numbering sequences—must be provided during initial system setup and cannot be modified later. Other information, such as credit terms and logistics settings, can be added at any time. See also segmented key, numbering sequence, and credit terms.
consolidation	The process of combining separate accounting data into one set of data by importing data from subsidiaries to the parent company. Whether your organization is a parent company or a subsidiary of a larger company, you can prepare and consolidate the data into one consolidation ledger in the parent company.
consolidation data	The data imported to the parent company (as GL batches with system-generated descriptions) to enable consolidation. See also general ledger, batch, and consolidation.
consolidation mapping	The process of matching accounts and subaccounts in a subsidiary against those of the parent company for consolidation. Mapping of subaccounts can be performed across subaccount segments. See also account, subaccount, and segment.
credit terms	Conditions and stipulations used by vendors in their relations with your company and by your company in its relations with customers when any outstanding balance is paid. Credit terms include an installment option (one payment or multiple installments), a payment schedule, and terms for cash discount (for only the single-installment option). Also, credit terms can be used as a schedule for overdue charges. See also vendor, customer, cash discount, and credit terms.
currency management	A functional area of MYOB Acumatica that you use to define multiple currencies, enabling foreign currency transactions throughout the system. You can maintain the lists of currencies, track exchange rate fluctuations, and perform periodical revaluations. See also revaluation.
currency rate	The rating of one currency valued against another. You use the Currency Rates (CM301000) form to enter foreign currencies' exchange rates and the base currency rates. Rates for each rate type are specified with respect to the base currency and are recorded to the database with the type of arithmetic operation required to apply the rate. Each record contains the rate and the date when it becomes effective. The rate is used for currency conversions for documents that have later dates until a new rate is recorded. See also base currency.
customer	One of your company’s trade debtors. In MYOB Acumatica, you can set up default values for individual customers, customer classes, and customer documents to help make data entry easier and less error-prone. When you enter a new invoice for a customer, calculates the due date, discount date, and amount automatically, based on its credit terms. Tax settings are by default those of the tax zone associated with the customer location. See also customer class, credit terms, tax, and tax zone.
customer class	A group of settings that provides default values when users create new customer accounts, thus saving them time. You divide customers into classes based on the types of goods or services they purchase from you. See also customer.
customer management	A functional area of MYOB Acumatica that helps your company set up customer service based on contracts and effectively track service issues reported by customers. Also, the functionality provides tools to help salespeople generate quality leads, track and analyze sales opportunities, and manage marketing campaigns by sending personalized emails in bulk. See also customer.
customer price class	A group of customers that may be offered special prices because of their buying habits. All customers of the same customer price class are charged the same price for the same item, and you can set different prices for the same item for different customer price classes. See also customer.
customer statement	A complete record of the customer's invoices, debit and credit memos, payments, prepayments, and overdue charges for a specific period. A statement includes all new activity for a statement cycle, from the previous statement date to the current statement date. Any open debit items from prior periods are included in the statement, grouped by days outstanding. See also statement cycle and prepayment.
D
dashboard	An interface that organizes and presents key information in a format that users can interpret easily. System administrators can design a set of company-specific template dashboards. A user can modify any of them or create from scratch a set of personalized dashboards that display information tailored to job and information needs.
deferral code	A code used in MYOB Acumatica to configure how revenues and expenses are recognized. If a line amount in an invoice or a bill should be recognized over several periods, a deferral code (of the revenue or expense type, respectively) is assigned to this line.
deferral schedule	A number of related transactions automatically generated for the documents whose lines have deferral codes assigned. See also deferral code.
deferred revenue	A functional area of MYOB Acumatica that stores definitions of deferral codes, while giving you the ability to view and edit deferral schedules generated for AP and AR documents and recognize parts of deferred amount according to these schedules.
deposit	An instance of physically placing money in a bank. In MYOB Acumatica, an internal document created using the Bank Deposits (CA305000) form. Batch deposits are used to group customer payments deposited to the bank in bulk. When you enter payments intended for such deposits into MYOB Acumatica, they are recorded to special clearing accounts, which temporarily hold payments drawn from customers' AR accounts. Before you make a deposit to the bank, you create a deposit in MYOB Acumatica, list the payments and cash to be deposited, and print a deposit slip. After the money was actually deposited, the deposit can be corrected to contain only payments accepted by the bank and released. On the deposit's release, a batch of transactions will be generated to move the payment amounts from clearing accounts to the bank account and to record the charges incurred as expenses. See also deposit, batch, customer, clearing account, and bank account.
discount	A means of reducing sales prices. In MYOB Acumatica, your company can configure various types of discounts applicable to sales orders and intended to attract customers: document-level discounts that are subtracted from the document total, item-level discounts that apply to a document line, and flat-price discounts, which are special discounted prices that depend on the quantities of goods purchased. See also customer.
E
entry type	A user-defined type of transaction (which can be a cash receipt or cash disbursement) used to categorize cash transactions. See also cash management.
event	An activity that has a specific start time and duration. You create events for all or several users and invite users, leads, contacts, and customers as attendees. You can send invitation or rescheduling emails to attendees.
F
Favorites	Links to the forms the particular user accesses most frequently. Any user can create his or her own list of favorites for personal use.
financial period	A part of a financial year defined by its start date and end date. A financial year can be divided into monthly, bimonthly, quarterly, or custom-defined periods. For each next new year, generates financial periods in accordance with initial system settings. We recommend that you not change financial settings in once transactions have been posted to any of the periods. See also financial year.
financial year	A time interval used for calculating annual financial statements. The year is defined by its start date, which you determine, and lasts 12 months. For example, the U.S. government's financial year begins on October 1 of the previous calendar year and ends on September 30 of the year that gives the financial year its number. A financial year consists of a number of financial periods and may include an additional adjustment period. See also financial period and adjustment period.
FOB point	A destination at which the vendor delivers the goods to be loaded to the transportation provided by the carrier. The customer covers the freight and other expenses for the cargo from a FOB (meaning freight on board) point. See also vendor and customer.
foreign currency translation	The process of restating the account balances in a reporting currency. For accounts denominated to currencies other than the reporting currency, the balances expressed in the base currency are recalculated to the reporting currency. See also account and base currency.
form	A screen in MYOB Acumatica that you use to enter needed data, configure and maintain system functionality, view inquiry data, and perform processes that are key to your business.
form toolbar	A toolbar present on most forms with data navigation and processing buttons to invoke actions that apply to the entire form. For example, its actions can be used to cancel or save changes you've made, to insert or delete objects, or to navigate through the objects created via the form. See also form.
funds transfer	A transaction that moves an amount from one cash account to another, with related service charges. Funds can be transferred between accounts denominated to different foreign currencies in two steps, using the cash in transit account for currency conversion to the base currency and from the base currency. See also cash account, cash-in-transit account, and base currency.
G
general ledger	A functional area of MYOB Acumatica that serves as the central application where all financial information is collected for analyzing, summarizing, and reporting. You can set up your company's financial structure through the chart of accounts and subaccounts, collect information through transactions entered by users, and prepare data for generating various financial statements. See also chart of accounts and subaccount.
H
historical rate	An exchange rate for the foreign currency with respect to the base currency that was effective during a certain past period. The system uses historical rates for foreign currency translations and "past-date" transactions. See also base currency and general ledger.
I
inline editor	An editing tool you can use to edit a section of a Wiki article or its full text. The inline editor contains both a text box (which contains the text of the applicable section) and a Formatting toolbar.
input mask	A mask implemented to govern what a user may enter into a box, so that the required format is used on data entry forms. Masks are used, for example, for phone numbers, postal codes, and tax registration IDs. Moreover, input masks can be created using regular expressions to validate entered values, since the values for some elements must follow not only input format requirements but also specific rules.
integration services	The powerful capabilities that provide the ability to filter and import data from external sources, converting it into internal format, and configure data synchronization between and third-party applications to be performed on schedule. Also, you can configure data export with conversion to required formats.
inventory item	A stock or non-stock item defined and tracked in MYOB Acumatica. The record's unique identifier, Inventory ID, as with other identifiers in MYOB Acumatica, can be segmented, with special meaning assigned to each segment. (The INVENTORY key is used to configure inventory IDs.) Well-designed inventory IDs can help you sort and group items in operational and management reports. See also stock item and non-stock item.
inventory	A functional area of MYOB Acumatica that provides real-time access to item availability data configured in accordance with your company's policies. You can maintain a perpetual inventory system as well as performing physical inventories, which can be performed as full inventory and by cycles. You can use subitems as an additional means of tracking special types of inventory items, and you can track inventory items by either lot or serial numbers and expiration dates. (See lot serial numbers for more details.) Advanced inventory functionality includes flexible posting settings, multiple warehouses with multiple specialized locations, and automatic replenishments. See also subitems, inventory item, and lot or serial numbers.
inventory price class	A class used to group inventory items by the method of their price calculation. An inventory price class may include items of one or more item classes. See also inventory item and item class.
item class	A class used to group stock or non-stock items with similar properties and to provide default settings for new items. See also stock item and non-stock item.
J
journal entry	A record of debit or credit to any account in the general ledger. Journal entries (or transactions), which are added in batches, must follow the generalized double-entry rule: the debit total must be equal to the credit total through all the entries in a batch. The batch contains the date, the accounts and subaccounts to be debited, the accounts and subaccounts to be credited, and the debit or credit amounts for each transaction. A batch of journal entries can be marked as recurring or auto-reversing. See also account, general ledger, batch, subaccount, and auto-reversing batch.
K
kit	An inventory item that consists of other stock or non-stock items as components and requires assembling (or packaging) to become a salable good. You enter a kit as a stock or non-stock item using either the Stock Items (IN202500) or Non-Stock Items (IN202000) form and select the Is a Kit option. You can specify the kit's components (with their quantities) using the Kit Specifications (IN209500) form. A kit may include a number of stock and non-stock components. See also inventory item, non-stock item, and stock item.
L
landed costs	All extra costs—beyond the prices at which the goods are purchased from vendors—associated with acquiring products and “landing” them at one of your company's locations. These costs might include customs duties, handling fees, freight charges, value-added taxes, and other costs for a particular product. In MYOB Acumatica, you can define these costs via the Landed Cost Codes (PO202000) form. See also vendor and tax.
location	One of multiple places of business for a particular company. Each location is assigned to a tax zone and, as a business entity, may have a separate tax registration ID from that of the main location of the company. A warehouse location. See also tax zone and warehouse location.
location table	The list of a particular warehouse's locations and their properties. Use the location table to configure your warehouse to fit the logistical processes established in your company. For each location table, you can specify whether to include the quantities of stock items stored at this location in the quantity of available items calculated for the warehouse, whether to cost the inventory on this location separately, what inventory operations are allowed for the location, and what the location's pick priority is. Users can consult this table for reference when they’re creating receipts, issues, or transfers. See also warehouse.
lot or serial numbers	Identifying numbers through which you track goods in your inventory. Serial numbers are used when you need to trace each item of the same inventory ID, while lot numbers are used to trace items (of the same ID) that were purchased or produced together and have the same expiration dates (if applicable). You can segment lot and serial numbers by using the Lot/Serial Classes (IN207000) form. MYOB Acumatica supports the following types of segments for lot/serial numbers: constant, date, and auto-incrementing. See also segment.
low seasons	Time intervals in which the decreasing factors (used to divide the standard replenishment quantity to get lower replenishment quantities during low seasons) should be applied to quantities on purchase orders generated to replenish the stock. Each inventory item may have multiple low seasons, each with different decreasing factors. See also inventory item.
M
main menu	A panel located on the left side of the Acumatica ERP screen that contains the links to your favorites and workspaces (menus with links to forms and reports). See also form, Favorites, and dashboard
management	A functional area of MYOB Acumatica that you use to define users, roles, and restriction groups for security management. It also provides site management, wiki management, task management, customization management, and file management capabilities, as well as integration services. See also user, role, restriction group, and integration services.
multicurrency	A mode in which MYOB Acumatica can function to support multiple currencies. If you have activated multicurrency support, you can manage transactions in various foreign currencies, record exchange rates for multiple rate types as needed, report in a specific foreign currency, and revalue GL, AP, and AR accounts in the base currency. The base currency is used for reporting and income statement calculation. See also base currency and Currency Management.
N
negative inventory	An option, offered in MYOB Acumatica, allowing a negative inventory balance for an inventory item or a group of items. This can occur when the inventory issue is made before the necessary quantity of the item arrives at the warehouse. To calculate the balance of over-issued inventory items, the most recent historical cost will be used until the item is received. When the inventory is received, the system will match the receipt cost with the issue cost, and generate a cost adjustment for the difference. Appropriate warnings are issued on transactions that will result in negative inventory balances. See also inventory item and warehouse.
non-stock item	An inventory item that is not stored in a warehouse. Such items can be of different types: labor, service (such as product assembly, installation, or personalization), charge, expense, and actual non-stock items, such as goods used only for drop-shipments. For a non-stock item, you can specify the following information in MYOB Acumatica: base, sales, and purchase units; conversion coefficients; price and cost information; and the default GL accounts and subaccounts to be used for transactions with the items. See also inventory item, warehouse, general ledger, and account.
notification template	An email template with variables denoting values in an employee or contact record. When the email is sent, the system replaces variables with values from the database record associated with each addressee for email personalization.
numbering sequence	A set of rules the system uses to generate the next unique identifier when you create a new object of certain type (such as a batch). provides a number of predefined numbering sequences you can use. A numbering sequence may have subsequences. If one numbering sequence is used for multiple object types, all the objects get numbers according to the order in which they were created, so successive numbers can be assigned to objects of different types. See also batch.
O
overdue charges	Charges calculated on open Accounts Receivable items that are past due. MYOB Acumatica calculates overdue charges and displays them on customer statements. You can configure these charges to be compound charges (charges calculated on charges) or not. Overdue charges are based on terms that provide a schedule for payment. See also accounts receivable and customer statement.
P
payment method	A way in which customers pay for goods they purchase from your organization. For each payment method, you can use a number of predefined elements: define the element names as you want them to appear on the interface, and set up input validation for these elements (input masks or regular expressions). Payment methods are based on the following general means of payment: credit cards, gift certificates, purchase orders, cash cards, and custom methods. See also customer and input mask.
PI cycle	The physical inventory cycle assigned to the stock item. PI cycles are used to arrange the items into groups for periodic counting. For more details on using PI cycles, see Planning for Physical Inventory. See also stock item.
posting class	A group of items that defines the default account to be used and the rules for composing the default subaccount for transactions with the applicable inventory items. Accounts and subaccounts for transactions can be obtained from the following sources: inventory item, warehouse, or posting class. See also combined subaccount, Inventory, account, subaccount, combined subaccount, warehouse, and inventory item.
prepayment	A document that represents amounts paid in advance for future purchases. A vendor's request for prepayment is processed as follows: You use the Checks and Payments (AP302000) form to enter the prepayment. Then the prepayment is paid in full by an AP check in the same currency as the default cash account. If the payment method associated with the default cash account requires printing a check, print it and release the AP check, which changes its status to Closed and creates a payment of the Prepayment type with the reference number of the original prepayment request. After that, you can apply the prepayment to bills and adjustments. See also accounts payable.
price list	A list of sales prices that is set for goods sold in a specific currency, offered to customers of a particular customer price class, and specified with respect to various units of measure available for the items. In MYOB Acumatica, you can maintain multiple price lists. See also sales price, customer, and customer price class.
purchase orders	A functional area of MYOB Acumatica that provides functionality for efficient management of your company’s supply chain and optimization of the cost of acquiring materials or services.
purchase requisitions	A functional area of MYOB Acumatica with forms you can use to streamline and customize the process of requesting needed items. You can request goods and services, approve requests, and prevent cost overruns.
R
reason code	A code used to provide additional information regarding transactions in the system. When you configure a reason code on the Reason Codes (CS211000) form, you can specify whether this code is used for inventory and if so, how it is used. By using inventory-related reason codes, you can post transactions related to direct inventory operations (such as receipts, issues, transfers, adjustments, and physical inventory counts) to specific accounts and assign particular subaccounts to them for more detailed reporting. See also reason code, Inventory, account, and subaccount.
reconciliation	The process of matching the cash transactions recorded in MYOB Acumatica against those presented on a bank statement. Theoretically, the balance of the cash account associated with the bank should reconcile to the balance of the bank statement, but there may be some discrepancy between account balances. The goal of reconciliation is to find discrepancies and determine whether each is due to entry errors or timing. In MYOB Acumatica, you mark documents as cleared as you receive preliminary information from the bank. Later, when you have received the bank statement, you reconcile transactions with the bank statement.
recurring GL transactions	GL transactions that repeat regularly. To automate the entering of recurring transactions, such as depreciation transactions, MYOB Acumatica gives you the ability to create schedules for them. A schedule defines how many times and how often specific batches should be repeated. One batch or multiple batches can be assigned to a schedule as long as they have the Balanced status. Once a batch is assigned to a schedule, its status changes to Scheduled. To create schedules, use the Recurring Transactions (GL203500) form. See also schedule and batch.
replenishment policy	Settings that define how automatic replenishment for the inventory item is initiated, as well as its source, quantity, and time intervals, including low seasons, during which replenishment is initiated in smaller quantities. See also inventory item.
restriction group	A set of objects (such as users, accounts, and subaccounts) of two or more types created to, if the group includes users, restrict users' access to only objects in the same group; if the group doesn't include users, the restriction group relates its objects in a way that limits their use. For instance, one restriction group may include two users and a number of special-use accounts that only these two users can update, and another restriction group may include several GL expense accounts and a subaccount that should be used only with these particular accounts. If a restriction group is defined as inverse, the objects in the group instead cannot be used with one another.
Retained Earnings account	A special system-maintained accounts that is of the Liability type and must be created before any actual data is entered. The Retained Earnings account accumulates the company’s net income (or loss) after the dividends have been paid. Retained earnings are summarized over the years since the first year of company operations. During the financial year closing, this account is updated by the amount accumulated on the YTD Net Income account. See also YTD Net Income.
revaluation	The process of revising the value of AP, AR, or GL accounts that are maintained in a foreign currency.
role	A set of access rights to certain system objects—such as specific wiki articles, forms, form elements, and toolbar actions—to which you assign users. When you define roles, give only the access rights necessary to perform typical tasks. Sets of access rights by different roles should not intersect. We recommend that you assign to a user several roles rather than creating a more complicated role with the same privileges as multiple already-defined roles. MYOB Acumatica has several preconfigured roles.
S
sales orders	A functional area of MYOB Acumatica you use to manage sales-related activities, such as maintaining multiple price lists, configuring the system to calculate discounts, entering quotes, fulfilling sales orders, generating pick lists, creating shipments, and adding landed costs.
sales price	A price you set for a particular item that you sell in a specific currency, offer to customers of a particular customer price class, and specify with respect to an appropriate unit of measure. Sales prices can be maintained with regard to items' sales units or base units. See also customer, customer price class, sales unit, and base unit.
sales unit	The unit of measure in which a particular item is sold to a customer. See also customer.
schedule	A definition in MYOB Acumatica of how many times and how often specific AP batches, AR documents should be generated for recurring transactions. Once a batch or a document is assigned to a schedule, its status changes to Scheduled. The system uses the original documents or batches as templates to generate similar documents or batches with only transaction dates being changed as dictated by the schedule. See also batch.
Search box	A box that you use to perform a quick search in the entities. You can click the Search icon to open the Search form, which offers more extensive capabilities to search in the system.
segment	In MYOB Acumatica, one of the parts of an identifier of an entity—such as account, subaccount, inventory item, subitem, warehouse or location reserved to carry special meaning. Segments should be populated with values before entities are created. Segment values are alphanumeric strings of the fixed length, and one of the segments may be assigned a numbering sequence. Several input validation options can be used to verify the segment values when users create new entities of the type. To break the identifier into segments (as described above). See also account, subaccount, inventory item, location, and warehouse.
segmented key	A system entity that you use to define the structure of identifiers for a certain type of object and then serves as a template when a user creates an identifier for a new object. These segmented keys include the following: ACCOUNT, for GL accounts; SUBACCOUNT, for GL subaccounts; BIZACCT, for vendor and customer accounts; INVENTORY, for inventory items; and SALESPER, for salesperson accounts. For more detailed information, see Segmented Identifiers. See also general ledger, account, subaccount, and vendor.
standard cost method	A method for inventory item valuation in which standard cost is calculated outside the system using company-specific policies. With this method, the currently effective standard costs are assigned to inventory items on their receipt, issue, adjustment or transfer, regardless of their actual costs. When items assigned to this method are received at the warehouses, any differences between the actual and standard costs are recorded to the specified standard cost variance accounts and posted to the general ledger. Standard costs can be updated as often as is needed. See also inventory item and warehouse.
stock item	An inventory item stored and maintained in steady volumes at some warehouse. For each stock item, MYOB Acumatica tracks a basic set of item properties, such as the item's identifier, description, price, cost, units of measure, and default warehouse and vendor information. Stock items can have many additional properties, known as attributes in MYOB Acumatica, that do not affect item processing but may be important for analyzing the stock movements or item sales. See also inventory item and attribute.
statement cycle	The schedule for customer statements. You can also set up four aging periods that sort open documents by days past due. You can use the aging periods to prepare an AR aging schedule at the end of each month, which you can analyze to identify potential cash flow problems. Statement cycles can be assigned to customer classes and to individual customers. See also customer statement, aging period, customer class, and customer.
subaccount	A subcategory of the account that carries identifying information; in MYOB Acumatica, you use subaccounts with accounts to virtually split accounts into smaller, more specific ones. This gives you finer classification within the account for reporting and internal management purposes. While account identifiers carry information about the account type along with the actual account number, subaccount identifiers can provide such information as the division, department, and cost center. Each journal entry is recorded with the appropriate account and subaccount combination. See also account and journal entry.
subitems	Codes that can be used for further categorization of an inventory items. Subitems are used in the system if you have otherwise-identical products with different colors, sizes, or other properties tracked because of their importance to customers. Thus, under the same inventory ID, there may be a number of subitems—records about products that share all settings of the inventory item record but have additional properties that differ. If your site uses subitems, they should be specified for each inventory ID related to a stock item. See also inventory item, customer, and stock item.
T
table	An arrangement of similar objects or details, each displayed with the same number of properties, on many forms. In a details table, each row represents an object or detail (for example, an account, subaccount, document line, or journal entry) and its properties; elements specifying properties are grouped into columns.
table toolbar	A toolbar located above (and sometimes above and below) a Details table with buttons you can use to perform detail-related actions, including the following: add, edit, or delete details; filter details; perform custom actions; and rearrange details by changing the order of values in any column.
task	An activity that you have to complete before a due date but that doesn’t have a specific time or duration. By default, you create tasks for yourself, but you also can create tasks and assign them to other employees.
tax	A compulsory financial contribution imposed by a government. In MYOB Acumatica, you can configure taxes of the following major types: Sales, Use, VAT, and Withholding. The definition of each tax includes the tax rate (used to calculate the tax amount), the method of calculation, the effective date, and the accounts to which the tax amounts are posted. Each tax is reported to a specific tax agency and is paid to or claimed from the agency. See also account and tax agency.
tax agency	A tax authority, defined in as a vendor, that requires tax reports to be filed regularly. For your convenience, you can create a vendor class for tax agencies (local and federal). Each tax agency requires tax reports to be filed regularly. See also vendor and vendor class.
tax category	A list of taxes associated with a product or a service when it is purchased or sold. See also Taxes.
taxes	A functional area of MYOB Acumatica where you can enter the definitions of taxes, tax categories, and tax zones that are used across MYOB Acumatica for automatic tax calculation for every document and transaction. See also Taxes, tax category, and tax zone.
tax reporting group	An entity used to accrue taxable amounts and tax amounts charged on GL, AP, and AR transactions for tax reporting purposes. For example, a VAT requires two groups (input and output): one for tax amounts charged on sales, and another for tax amounts charged on purchases. A sales tax requires one output group for taxes on sales. Tax reporting groups are used to calculate the report lines for a report to a tax authority. For more information, see Tax Report
tax report lines	Lines configured for a tax agency as a combination of output and input reporting groups for various taxes associated with the same tax agency. See also tax agency and taxes.
tax zone	An area or tax jurisdiction where the same taxes are enforced. In MYOB Acumatica, a tax zone includes a list of taxes to be applied to a customer's invoice or a vendor's bill depending on the location.
U
user	A person who uses the ERP system. Once a user has been authenticated, the system checks the user's membership in roles. Users can view only the forms, articles, and elements authorized by their roles, and can perform only the actions permitted by these roles. Users may be members of restriction groups, which let them access specific entities included in the groups. See also role, form, and restriction group.
V
vendor	One of your company’s trade creditors. For ease of use, you can set up default values for vendor classes, individual vendors, and vendor documents. When users enter new bills, they must specify a vendor for each bill. Once they choose the vendor, certain elements on the form will be automatically populated with the vendor’s default values. The due date and available discount are calculated automatically, based on the vendor’s credit terms. See also vendor class and credit terms.
vendor class	A group of settings that provides default values when users create new vendor accounts. Divide vendors into classes based on the types of goods they sell or services they provide. See also vendor.
W
warehouse	A place where goods are stored. A warehouse in MYOB Acumatica does not necessarily represent one physical building where your inventory is stocked; you can divide a large physical storage space into several areas and define each as a warehouse in MYOB Acumatica. A warehouse can even be virtual: For example, all goods that are on the way to you from the supplier can be considered as located in the virtual goods-in-transit warehouse.
warehouse location	An actual or virtual place in a warehouse that can be used to receive, store, or issue specific goods or all goods. Each warehouse can include several locations. Warehouse location IDs are defined with the INLOCATION segmented key. See also warehouse.
wiki article	An entity that consists of digital content on a particular topic and makes up a wiki, along with other articles. Articles can be organized in folders in ways that best fit your needs.
wiki editor	The form, invoked when you click Edit for an open wiki article, that you use to edit both the article text and its properties.
wiki markup	The syntax used to create wiki articles. Using wiki markup, you can create articles, add headings, tables of contents, hint boxes, and warning boxes. A mode in which you can edit wiki articles and view the wiki markup.
Wiki toolbar	A toolbar, appearing below the main menu when you open a wiki article, that provides a variety of actions you can use as you browse the wiki and work with articles. These actions include creating a new article, moving to the previous or next article in the wiki tree, and printing or deleting the current article.
Y
YTD (Year-to-Date) Net Income account	A special account, automatically maintained by the system, that records the net income (the difference between the amounts posted on income and expense GL accounts) accumulated since the beginning of the financial year. This difference is updated by every transaction posted. During closing of the financial year, the balance of the YTD Net Income account is transferred to the Retained Earnings account and is reset to zero for a new financial year. The YTD Net Income account should be of the Liability type and must be created before any actual data is entered. See also account and financial year.

A

account

A general ledger entity that holds a detailed record of similar transactions involving a particular item, such as a source of cash or a recipient of income. supports several account types: Asset, Liability, Income, and Expense. All of a company's accounts are listed on its chart of accounts. In MYOB Acumatica, accounts are used with subaccounts, and at system setup, you choose whether account identifiers should be composed of segments. See also general ledger, chart of accounts, subaccount, and segment.

account class

A user-defined class that is used to group related accounts of the same type and that can be used in reports and inquiries for convenient grouping, sorting, and filtering of information associated with accounts. For example, you can create a class for long-term liabilities and another for middle-term liabilities.

accounts payable

A functional area of MYOB Acumatica that provides functionality for efficient management of your company’s vendors, primarily for goods and services purchased by your company. See also vendor.

accounts receivable

A functional area of MYOB Acumatica that provides functionality for efficient management of your company’s customers, primarily for goods and services sold by your company. See also customer.

home page

The first page a user sees upon signing in to the website. By default, the home page displays the documentation list, but it can be configured to display the home page dashboard. See also dashboard.

adjustment period

A financial period with the same start and end dates (and, thus, a duration of zero days) that is the last period in the financial year. An adjustment period can be added only at initial setup. On data entry forms, an adjustment period is available only when you directly type it in the Fin. Period box. See also financial period and financial year.

aging period

One of a group of time intervals used for sorting a company's open AR documents by age or its open AP documents by days outstanding. For example, aging periods may be defined as follows: -999 to 0 days past due, 1 to 30 days past due, 31 to 60 days past due, and 61 to 91 days past due.

aggregating value

A special value of a segment of a subaccount that indicates the sum of appropriate budget articles whose subaccounts have other values in this segment. By aggregating values, you can build a hierarchical structure of budget articles. See also segment and subaccount.

allocation template

A group of settings, saved as a whole, used to help you automate allocations; allocation templates can be defined using the Allocations (GL204500) form. You can create an allocation source by using input masks to specify multiple accounts and subaccounts at once, and you can set up rules for distributing the source amount over multiple accounts. See also input mask, account, and subaccount.

AP bill

A document created for each vendor invoice that includes information about the vendor, location, and currency used for the transaction. A bill may contain either line items or one summary line with a tax category specified. Some taxes are calculated for the entire document, and some are calculated for each line item, depending on each tax's Calculation Rule setting on the Taxes (TX205000) form. See also vendor, location, tax category, and tax.

AP check

A payment document created for a vendor. A separate AP check may be required for each AP document, depending on your selected configuration options. AP checks should always have zero unapplied balance; that is, the amount of a check should be exactly the amount of the bill or bills it pays for. See also vendor.

AP credit adjustment

A clearing document created to correct errors on an existing bill, or in response to a vendor's overdue charges or a debit memo. Posting a credit adjustment increases the balance of accounts payable.

AP debit adjustment

An AP document created on the Bills and Adjustments (AP301000) form for a vendor refund. It may be applied to any bills of the same vendor. Discounts cannot be taken on debit adjustments. See also vendor.

approval

The act of formally giving permission for a document to proceed to the next step in its workflow. An organization may require documents, such as purchase orders or expense claims, to be approved by authorized persons before they may be paid. Also, you can require that wiki articles be approved before they may be published. In MYOB Acumatica, you can configure approvals by assigning documents to specific persons for approvals and by giving only authorized persons access to certain processing forms. See also form.

AR credit memo

A clearing document created for damaged goods or a previous overcharging invoice. A credit memo may have one summary line or multiple line items. A credit memo may be applied against invoices, debit memos, and overdue charges. See also overdue charges.

AR debit memo

A document that adjusts the amount in one or several previous undercharging invoices. It doesn't contain a direct reference to any original invoices; if needed, you can reference the original invoice in the Description box. Debit memos may be numbered differently from invoices.

AR invoice

An itemized request for payment for goods sold or services rendered. An invoice includes the customer information, location, currency, and any reference number in the original customer document. The due date of the document is calculated based on the credit terms associated with the customer. An AR invoice may have a single summary line or multiple line items. For each line, a tax category may be specified. See also customer, location, credit terms, and tax category.

assignment map

A structure representing the hierarchy of workgroups involved in processing or approval. See also approval.

assignment rules

A set of rules you can configure—based on the properties of an entity (such as a lead or case) or a document (such as an expense claim, sales order, or purchase order)—to enable automatic assignment to appropriate employees for processing or approval. For the selected entity type, you facilitate automatic assignment of entities to workgroups and to particular users by creating an assignment map and rules based on properties of the entity or document. See also approval and assignment map.

attribute

A custom element that your company can add to forms to keep additional information about products, leads, customers, inventory items, and other entities. Attributes—which are used on various forms in the system—give you the ability to gather details that are meaningful for your business. See also form, customer, inventory item, and inventory.

attribute class

A grouping of your company's leads, opportunities, customers, or cases by a specific set of attributes. See also attribute.

authentication

The process by which establishes a potential user as valid and grants access to the system. A user must use a valid user name and password pair for successful authentication. See also user.

authorization

The process by which verifies whether a user has sufficient access rights to particular forms, elements, and actions. The system makes this determination for a user who has successfully signed in, based on the roles assigned to the user and the restriction groups that include the user as a member. See also user, form, role, and restriction group.

auto-reversing batch

A batch for which the system automatically creates another batch that reverses debit and credit entries into the next financial period; the debit entry is reversed as a credit entry and vice versa. Auto-reversing entries are used to reverse some period-end adjustments. See also batch, general ledger, and financial period.

automation schedule

A schedule defined for an processing form to direct the system to perform specific processing periodically. You can create automation schedules by using the Automation Schedules (SM205020) form. See also automation schedule

B

bank account

A cash account associated with a specific bank (which in is defined as a vendor) and with one or more linked clearing accounts. Bank charges can be configured as entry types associated with the bank account. Bank accounts generally require periodic reconciliations to be performed. See also vendor, clearing account, entry type, and reconciliation.

base currency

The currency of the environment in which the company generates and expends cash. A base currency can be the only currency used in the system or one of multiple currencies used. The base currency is the default currency for recording transactions, budgets, and other GL data, and it is used for reporting, income statement, and balance sheet calculations. For general ledger accounts denominated to a foreign currency, maintains the history of transactions and balances in both the currency of denomination and the base currency. See also general ledger and account.

base price

A price for an item set with respect to the base unit, expressed in the base currency and offered to customers of the base price class (those not associated with any specific price class by default). Base prices can be defined and maintained directly, following your company's pricing policy. See also base unit, base currency, customer, and inventory.

base unit

The unit of measure in which a particular item is tracked from the moment it is received at a warehouse or produced at one of your facilities until it is picked for shipping. Generally, the base unit is the smallest unit defined in the system for a particular item. Also, the base unit is the unit of measure used for calculating item costs. See also warehouse.

batch

A set of related transactions or journal entries that are in the same currency, refer to the same ledger, and occur in the same financial period. A batch's debit total and credit total are calculated over all the transactions. Some batches are generated by the system automatically, such as those implementing revaluations. Only balanced batches (those for which the credit total equals the debit total) can be released and posted to the specified ledger. See also journal entry, financial period, and revaluation

batch control total

A user-entered total that is used for batch status validation if it is enforced in your system—that is, if the Validate Batch Control Totals on Entry check box on the General Ledger Preferences (GL102000) is selected. A batch can be saved with the Balanced status only if the user types into this box a value that is equal to the batch's debit total and credit total amounts. We recommend that you use batch control total validation to reduce data input errors. See also batch.

budget article

An account-subaccount pair recorded in a budget ledger with a budget amount. A budget article has subarticles if its subaccount has at least one aggregating value in any segment. See also account, subaccount, aggregating value, and segment.

business account

A set of information about one of your company's vendors or customers, including its locations, contacts, and payment and shipping options. MYOB Acumatica uses this information, which is specified on data entry forms, throughout the system. Your company also has a business account to record its own locations, contacts, and shipping settings. See also vendor, customer, and location.

C

cash account

A special type of general ledger account used to record various monetary transactions in a specific currency. You can specify entry types and payment methods with which the cash account is associated. Each cash account is assigned to a specific branch. See also general ledger, account, entry type, payment method.

cash-in-transit account

An account used for cash that is being moved from one currency to another. Because cross-rates are not used in MYOB Acumatica, currency conversion is performed via the base currency with the use of the cash-in-transit account and subaccount. See also account, base currency, and subaccount.

cash discount

A deduction from the total payable amount, which is allowed if the amount owed is paid within a specified time period on or before a due date. Cash discounts available for your organization are defined by credit terms assigned to vendors, and cash discounts available for customers are defined by credit terms assigned to customers. See also credit terms, vendor, and customer

cash management

A functional area of MYOB Acumatica that you use to manage cash and bank accounts, cash transactions (including funds transfer), and bank statement reconciliations. See also cash account, bank account, funds transfer, and reconciliation.

chart of accounts

A listing of the accounts in the system to which you will record accounting transactions. The chart of accounts, which you maintain in MYOB Acumatica by using the Chart of Accounts (GL202500) form, consists of balance sheet accounts (assets and liabilities) and income statement accounts (income and expenses). The chart of accounts should follow national and industry standards while also reflecting the operations of your company. See also account.

clearing account

A cash account that temporarily holds customer payments included in a deposit. Once the money is actually deposited to the bank and the deposit is released, a batch of transactions will be generated to move the payment amounts from clearing accounts to the bank account and to record the charges incurred as expenses. See also cash account, customer, deposit, batch, and bank account.

combined subaccount

A subaccount that can be combined from multiple involved subaccounts, based on rules you create, for certain transactions; use elements with labels such as Combine Subaccount From to set up these rules. A box for a combined subaccount displays a subaccount mask, such as ––––.––.–––.––––, in accordance with the segmented structure of subaccounts defined for your company. For each segment, you can specify one of the involved subaccounts as the source of the segment value. See the Combined Subaccounts article for more information. See also subaccount and combined subaccount.

commission

A payment made to a salesperson for goods and services sold. Commission is calculated once in a commission period based on total invoice amounts or payments received, depending on your configuration choice. For each document, calculates the commission amount as a percentage. For an invoice, the commission may be split among multiple salespersons.

common settings

A functional area of MYOB Acumatica used by administrators and implementation consultants to control global system settings. Some configuration settings—such as company information, segmented keys, and numbering sequences—must be provided during initial system setup and cannot be modified later. Other information, such as credit terms and logistics settings, can be added at any time. See also segmented key, numbering sequence, and credit terms.

consolidation

The process of combining separate accounting data into one set of data by importing data from subsidiaries to the parent company. Whether your organization is a parent company or a subsidiary of a larger company, you can prepare and consolidate the data into one consolidation ledger in the parent company.

consolidation data

The data imported to the parent company (as GL batches with system-generated descriptions) to enable consolidation. See also general ledger, batch, and consolidation.

consolidation mapping

The process of matching accounts and subaccounts in a subsidiary against those of the parent company for consolidation. Mapping of subaccounts can be performed across subaccount segments. See also account, subaccount, and segment.

credit terms

Conditions and stipulations used by vendors in their relations with your company and by your company in its relations with customers when any outstanding balance is paid. Credit terms include an installment option (one payment or multiple installments), a payment schedule, and terms for cash discount (for only the single-installment option). Also, credit terms can be used as a schedule for overdue charges. See also vendor, customer, cash discount, and credit terms.

currency management

A functional area of MYOB Acumatica that you use to define multiple currencies, enabling foreign currency transactions throughout the system. You can maintain the lists of currencies, track exchange rate fluctuations, and perform periodical revaluations. See also revaluation.

currency rate

The rating of one currency valued against another. You use the Currency Rates (CM301000) form to enter foreign currencies' exchange rates and the base currency rates. Rates for each rate type are specified with respect to the base currency and are recorded to the database with the type of arithmetic operation required to apply the rate. Each record contains the rate and the date when it becomes effective. The rate is used for currency conversions for documents that have later dates until a new rate is recorded. See also base currency.

customer

One of your company’s trade debtors. In MYOB Acumatica, you can set up default values for individual customers, customer classes, and customer documents to help make data entry easier and less error-prone. When you enter a new invoice for a customer, calculates the due date, discount date, and amount automatically, based on its credit terms. Tax settings are by default those of the tax zone associated with the customer location. See also customer class, credit terms, tax, and tax zone.

customer class

A group of settings that provides default values when users create new customer accounts, thus saving them time. You divide customers into classes based on the types of goods or services they purchase from you. See also customer.

customer management

A functional area of MYOB Acumatica that helps your company set up customer service based on contracts and effectively track service issues reported by customers. Also, the functionality provides tools to help salespeople generate quality leads, track and analyze sales opportunities, and manage marketing campaigns by sending personalized emails in bulk. See also customer.

customer price class

A group of customers that may be offered special prices because of their buying habits. All customers of the same customer price class are charged the same price for the same item, and you can set different prices for the same item for different customer price classes. See also customer.

customer statement

A complete record of the customer's invoices, debit and credit memos, payments, prepayments, and overdue charges for a specific period. A statement includes all new activity for a statement cycle, from the previous statement date to the current statement date. Any open debit items from prior periods are included in the statement, grouped by days outstanding. See also statement cycle and prepayment.

D

dashboard

An interface that organizes and presents key information in a format that users can interpret easily. System administrators can design a set of company-specific template dashboards. A user can modify any of them or create from scratch a set of personalized dashboards that display information tailored to job and information needs.

deferral code

A code used in MYOB Acumatica to configure how revenues and expenses are recognized. If a line amount in an invoice or a bill should be recognized over several periods, a deferral code (of the revenue or expense type, respectively) is assigned to this line.

deferral schedule

A number of related transactions automatically generated for the documents whose lines have deferral codes assigned. See also deferral code.

deferred revenue

A functional area of MYOB Acumatica that stores definitions of deferral codes, while giving you the ability to view and edit deferral schedules generated for AP and AR documents and recognize parts of deferred amount according to these schedules.

deposit

An instance of physically placing money in a bank.
In MYOB Acumatica, an internal document created using the Bank Deposits (CA305000) form. Batch deposits are used to group customer payments deposited to the bank in bulk. When you enter payments intended for such deposits into MYOB Acumatica, they are recorded to special clearing accounts, which temporarily hold payments drawn from customers' AR accounts. Before you make a deposit to the bank, you create a deposit in MYOB Acumatica, list the payments and cash to be deposited, and print a deposit slip. After the money was actually deposited, the deposit can be corrected to contain only payments accepted by the bank and released. On the deposit's release, a batch of transactions will be generated to move the payment amounts from clearing accounts to the bank account and to record the charges incurred as expenses.

See also deposit, batch, customer, clearing account, and bank account.

discount

A means of reducing sales prices. In MYOB Acumatica, your company can configure various types of discounts applicable to sales orders and intended to attract customers: document-level discounts that are subtracted from the document total, item-level discounts that apply to a document line, and flat-price discounts, which are special discounted prices that depend on the quantities of goods purchased. See also customer.

E

entry type

A user-defined type of transaction (which can be a cash receipt or cash disbursement) used to categorize cash transactions. See also cash management.

event

An activity that has a specific start time and duration. You create events for all or several users and invite users, leads, contacts, and customers as attendees. You can send invitation or rescheduling emails to attendees.

F

Favorites

Links to the forms the particular user accesses most frequently. Any user can create his or her own list of favorites for personal use.

financial period

A part of a financial year defined by its start date and end date. A financial year can be divided into monthly, bimonthly, quarterly, or custom-defined periods. For each next new year, generates financial periods in accordance with initial system settings. We recommend that you not change financial settings in once transactions have been posted to any of the periods. See also financial year.

financial year

A time interval used for calculating annual financial statements. The year is defined by its start date, which you determine, and lasts 12 months. For example, the U.S. government's financial year begins on October 1 of the previous calendar year and ends on September 30 of the year that gives the financial year its number. A financial year consists of a number of financial periods and may include an additional adjustment period. See also financial period and adjustment period.

FOB point

A destination at which the vendor delivers the goods to be loaded to the transportation provided by the carrier. The customer covers the freight and other expenses for the cargo from a FOB (meaning freight on board) point. See also vendor and customer.

foreign currency translation

The process of restating the account balances in a reporting currency. For accounts denominated to currencies other than the reporting currency, the balances expressed in the base currency are recalculated to the reporting currency. See also account and base currency.

form

A screen in MYOB Acumatica that you use to enter needed data, configure and maintain system functionality, view inquiry data, and perform processes that are key to your business.

form toolbar

A toolbar present on most forms with data navigation and processing buttons to invoke actions that apply to the entire form. For example, its actions can be used to cancel or save changes you've made, to insert or delete objects, or to navigate through the objects created via the form. See also form.

funds transfer

A transaction that moves an amount from one cash account to another, with related service charges. Funds can be transferred between accounts denominated to different foreign currencies in two steps, using the cash in transit account for currency conversion to the base currency and from the base currency. See also cash account, cash-in-transit account, and base currency.

G

general ledger

A functional area of MYOB Acumatica that serves as the central application where all financial information is collected for analyzing, summarizing, and reporting. You can set up your company's financial structure through the chart of accounts and subaccounts, collect information through transactions entered by users, and prepare data for generating various financial statements. See also chart of accounts and subaccount.

H

historical rate

An exchange rate for the foreign currency with respect to the base currency that was effective during a certain past period. The system uses historical rates for foreign currency translations and "past-date" transactions. See also base currency and general ledger.

I

inline editor

An editing tool you can use to edit a section of a Wiki article or its full text. The inline editor contains both a text box (which contains the text of the applicable section) and a Formatting toolbar.

input mask

A mask implemented to govern what a user may enter into a box, so that the required format is used on data entry forms. Masks are used, for example, for phone numbers, postal codes, and tax registration IDs. Moreover, input masks can be created using regular expressions to validate entered values, since the values for some elements must follow not only input format requirements but also specific rules.

integration services

The powerful capabilities that provide the ability to filter and import data from external sources, converting it into internal format, and configure data synchronization between and third-party applications to be performed on schedule. Also, you can configure data export with conversion to required formats.

inventory item

A stock or non-stock item defined and tracked in MYOB Acumatica. The record's unique identifier, Inventory ID, as with other identifiers in MYOB Acumatica, can be segmented, with special meaning assigned to each segment. (The INVENTORY key is used to configure inventory IDs.) Well-designed inventory IDs can help you sort and group items in operational and management reports. See also stock item and non-stock item.

inventory

A functional area of MYOB Acumatica that provides real-time access to item availability data configured in accordance with your company's policies. You can maintain a perpetual inventory system as well as performing physical inventories, which can be performed as full inventory and by cycles. You can use subitems as an additional means of tracking special types of inventory items, and you can track inventory items by either lot or serial numbers and expiration dates. (See lot serial numbers for more details.) Advanced inventory functionality includes flexible posting settings, multiple warehouses with multiple specialized locations, and automatic replenishments. See also subitems, inventory item, and lot or serial numbers.

inventory price class

A class used to group inventory items by the method of their price calculation. An inventory price class may include items of one or more item classes. See also inventory item and item class.

item class

A class used to group stock or non-stock items with similar properties and to provide default settings for new items. See also stock item and non-stock item.

J

journal entry

A record of debit or credit to any account in the general ledger. Journal entries (or transactions), which are added in batches, must follow the generalized double-entry rule: the debit total must be equal to the credit total through all the entries in a batch. The batch contains the date, the accounts and subaccounts to be debited, the accounts and subaccounts to be credited, and the debit or credit amounts for each transaction. A batch of journal entries can be marked as recurring or auto-reversing. See also account, general ledger, batch, subaccount, and auto-reversing batch.

K

kit

An inventory item that consists of other stock or non-stock items as components and requires assembling (or packaging) to become a salable good. You enter a kit as a stock or non-stock item using either the Stock Items (IN202500) or Non-Stock Items (IN202000) form and select the Is a Kit option. You can specify the kit's components (with their quantities) using the Kit Specifications (IN209500) form. A kit may include a number of stock and non-stock components. See also inventory item, non-stock item, and stock item.

L

landed costs

All extra costs—beyond the prices at which the goods are purchased from vendors—associated with acquiring products and “landing” them at one of your company's locations. These costs might include customs duties, handling fees, freight charges, value-added taxes, and other costs for a particular product. In MYOB Acumatica, you can define these costs via the Landed Cost Codes (PO202000) form. See also vendor and tax.

location

One of multiple places of business for a particular company. Each location is assigned to a tax zone and, as a business entity, may have a separate tax registration ID from that of the main location of the company.
A warehouse location.

See also tax zone and warehouse location.

location table

The list of a particular warehouse's locations and their properties. Use the location table to configure your warehouse to fit the logistical processes established in your company. For each location table, you can specify whether to include the quantities of stock items stored at this location in the quantity of available items calculated for the warehouse, whether to cost the inventory on this location separately, what inventory operations are allowed for the location, and what the location's pick priority is. Users can consult this table for reference when they’re creating receipts, issues, or transfers. See also warehouse.

lot or serial numbers

Identifying numbers through which you track goods in your inventory. Serial numbers are used when you need to trace each item of the same inventory ID, while lot numbers are used to trace items (of the same ID) that were purchased or produced together and have the same expiration dates (if applicable). You can segment lot and serial numbers by using the Lot/Serial Classes (IN207000) form. MYOB Acumatica supports the following types of segments for lot/serial numbers: constant, date, and auto-incrementing. See also segment.

low seasons

Time intervals in which the decreasing factors (used to divide the standard replenishment quantity to get lower replenishment quantities during low seasons) should be applied to quantities on purchase orders generated to replenish the stock. Each inventory item may have multiple low seasons, each with different decreasing factors. See also inventory item.

M

main menu

A panel located on the left side of the Acumatica ERP screen that contains the links to your favorites and workspaces (menus with links to forms and reports). See also form, Favorites, and dashboard

management

A functional area of MYOB Acumatica that you use to define users, roles, and restriction groups for security management. It also provides site management, wiki management, task management, customization management, and file management capabilities, as well as integration services. See also user, role, restriction group, and integration services.

multicurrency

A mode in which MYOB Acumatica can function to support multiple currencies. If you have activated multicurrency support, you can manage transactions in various foreign currencies, record exchange rates for multiple rate types as needed, report in a specific foreign currency, and revalue GL, AP, and AR accounts in the base currency. The base currency is used for reporting and income statement calculation. See also base currency and Currency Management.

N

negative inventory

An option, offered in MYOB Acumatica, allowing a negative inventory balance for an inventory item or a group of items. This can occur when the inventory issue is made before the necessary quantity of the item arrives at the warehouse. To calculate the balance of over-issued inventory items, the most recent historical cost will be used until the item is received. When the inventory is received, the system will match the receipt cost with the issue cost, and generate a cost adjustment for the difference. Appropriate warnings are issued on transactions that will result in negative inventory balances. See also inventory item and warehouse.

non-stock item

An inventory item that is not stored in a warehouse. Such items can be of different types: labor, service (such as product assembly, installation, or personalization), charge, expense, and actual non-stock items, such as goods used only for drop-shipments. For a non-stock item, you can specify the following information in MYOB Acumatica: base, sales, and purchase units; conversion coefficients; price and cost information; and the default GL accounts and subaccounts to be used for transactions with the items. See also inventory item, warehouse, general ledger, and account.

notification template

An email template with variables denoting values in an employee or contact record. When the email is sent, the system replaces variables with values from the database record associated with each addressee for email personalization.

numbering sequence

A set of rules the system uses to generate the next unique identifier when you create a new object of certain type (such as a batch). provides a number of predefined numbering sequences you can use. A numbering sequence may have subsequences. If one numbering sequence is used for multiple object types, all the objects get numbers according to the order in which they were created, so successive numbers can be assigned to objects of different types. See also batch.

O

overdue charges

Charges calculated on open Accounts Receivable items that are past due. MYOB Acumatica calculates overdue charges and displays them on customer statements. You can configure these charges to be compound charges (charges calculated on charges) or not. Overdue charges are based on terms that provide a schedule for payment. See also accounts receivable and customer statement.

P

payment method

A way in which customers pay for goods they purchase from your organization. For each payment method, you can use a number of predefined elements: define the element names as you want them to appear on the interface, and set up input validation for these elements (input masks or regular expressions). Payment methods are based on the following general means of payment: credit cards, gift certificates, purchase orders, cash cards, and custom methods. See also customer and input mask.

PI cycle

The physical inventory cycle assigned to the stock item. PI cycles are used to arrange the items into groups for periodic counting. For more details on using PI cycles, see Planning for Physical Inventory. See also stock item.

posting class

A group of items that defines the default account to be used and the rules for composing the default subaccount for transactions with the applicable inventory items. Accounts and subaccounts for transactions can be obtained from the following sources: inventory item, warehouse, or posting class. See also combined subaccount, Inventory, account, subaccount, combined subaccount, warehouse, and inventory item.

prepayment

A document that represents amounts paid in advance for future purchases. A vendor's request for prepayment is processed as follows: You use the Checks and Payments (AP302000) form to enter the prepayment. Then the prepayment is paid in full by an AP check in the same currency as the default cash account. If the payment method associated with the default cash account requires printing a check, print it and release the AP check, which changes its status to Closed and creates a payment of the Prepayment type with the reference number of the original prepayment request. After that, you can apply the prepayment to bills and adjustments. See also accounts payable.

price list

A list of sales prices that is set for goods sold in a specific currency, offered to customers of a particular customer price class, and specified with respect to various units of measure available for the items. In MYOB Acumatica, you can maintain multiple price lists. See also sales price, customer, and customer price class.

purchase orders

A functional area of MYOB Acumatica that provides functionality for efficient management of your company’s supply chain and optimization of the cost of acquiring materials or services.

purchase requisitions

A functional area of MYOB Acumatica with forms you can use to streamline and customize the process of requesting needed items. You can request goods and services, approve requests, and prevent cost overruns.

R

reason code

A code used to provide additional information regarding transactions in the system. When you configure a reason code on the Reason Codes (CS211000) form, you can specify whether this code is used for inventory and if so, how it is used. By using inventory-related reason codes, you can post transactions related to direct inventory operations (such as receipts, issues, transfers, adjustments, and physical inventory counts) to specific accounts and assign particular subaccounts to them for more detailed reporting. See also reason code, Inventory, account, and subaccount.

reconciliation

The process of matching the cash transactions recorded in MYOB Acumatica against those presented on a bank statement. Theoretically, the balance of the cash account associated with the bank should reconcile to the balance of the bank statement, but there may be some discrepancy between account balances. The goal of reconciliation is to find discrepancies and determine whether each is due to entry errors or timing. In MYOB Acumatica, you mark documents as cleared as you receive preliminary information from the bank. Later, when you have received the bank statement, you reconcile transactions with the bank statement.

recurring GL transactions

GL transactions that repeat regularly. To automate the entering of recurring transactions, such as depreciation transactions, MYOB Acumatica gives you the ability to create schedules for them. A schedule defines how many times and how often specific batches should be repeated. One batch or multiple batches can be assigned to a schedule as long as they have the Balanced status. Once a batch is assigned to a schedule, its status changes to Scheduled. To create schedules, use the Recurring Transactions (GL203500) form. See also schedule and batch.

replenishment policy

Settings that define how automatic replenishment for the inventory item is initiated, as well as its source, quantity, and time intervals, including low seasons, during which replenishment is initiated in smaller quantities. See also inventory item.

restriction group

A set of objects (such as users, accounts, and subaccounts) of two or more types created to, if the group includes users, restrict users' access to only objects in the same group; if the group doesn't include users, the restriction group relates its objects in a way that limits their use. For instance, one restriction group may include two users and a number of special-use accounts that only these two users can update, and another restriction group may include several GL expense accounts and a subaccount that should be used only with these particular accounts. If a restriction group is defined as inverse, the objects in the group instead cannot be used with one another.

Retained Earnings account

A special system-maintained accounts that is of the Liability type and must be created before any actual data is entered. The Retained Earnings account accumulates the company’s net income (or loss) after the dividends have been paid. Retained earnings are summarized over the years since the first year of company operations. During the financial year closing, this account is updated by the amount accumulated on the YTD Net Income account. See also YTD Net Income.

revaluation

The process of revising the value of AP, AR, or GL accounts that are maintained in a foreign currency.

role

A set of access rights to certain system objects—such as specific wiki articles, forms, form elements, and toolbar actions—to which you assign users. When you define roles, give only the access rights necessary to perform typical tasks. Sets of access rights by different roles should not intersect. We recommend that you assign to a user several roles rather than creating a more complicated role with the same privileges as multiple already-defined roles. MYOB Acumatica has several preconfigured roles.

S

sales orders

A functional area of MYOB Acumatica you use to manage sales-related activities, such as maintaining multiple price lists, configuring the system to calculate discounts, entering quotes, fulfilling sales orders, generating pick lists, creating shipments, and adding landed costs.

sales price

A price you set for a particular item that you sell in a specific currency, offer to customers of a particular customer price class, and specify with respect to an appropriate unit of measure. Sales prices can be maintained with regard to items' sales units or base units. See also customer, customer price class, sales unit, and base unit.

sales unit

The unit of measure in which a particular item is sold to a customer. See also customer.

schedule

A definition in MYOB Acumatica of how many times and how often specific AP batches, AR documents should be generated for recurring transactions. Once a batch or a document is assigned to a schedule, its status changes to Scheduled. The system uses the original documents or batches as templates to generate similar documents or batches with only transaction dates being changed as dictated by the schedule. See also batch.

Search box

A box that you use to perform a quick search in the entities. You can click the Search icon to open the Search form, which offers more extensive capabilities to search in the system.

segment

In MYOB Acumatica, one of the parts of an identifier of an entity—such as account, subaccount, inventory item, subitem, warehouse or location reserved to carry special meaning. Segments should be populated with values before entities are created. Segment values are alphanumeric strings of the fixed length, and one of the segments may be assigned a numbering sequence. Several input validation options can be used to verify the segment values when users create new entities of the type.
To break the identifier into segments (as described above).

See also account, subaccount, inventory item, location, and warehouse.

segmented key

A system entity that you use to define the structure of identifiers for a certain type of object and then serves as a template when a user creates an identifier for a new object. These segmented keys include the following: ACCOUNT, for GL accounts; SUBACCOUNT, for GL subaccounts; BIZACCT, for vendor and customer accounts; INVENTORY, for inventory items; and SALESPER, for salesperson accounts. For more detailed information, see Segmented Identifiers. See also general ledger, account, subaccount, and vendor.

standard cost method

A method for inventory item valuation in which standard cost is calculated outside the system using company-specific policies. With this method, the currently effective standard costs are assigned to inventory items on their receipt, issue, adjustment or transfer, regardless of their actual costs. When items assigned to this method are received at the warehouses, any differences between the actual and standard costs are recorded to the specified standard cost variance accounts and posted to the general ledger. Standard costs can be updated as often as is needed. See also inventory item and warehouse.

stock item

An inventory item stored and maintained in steady volumes at some warehouse. For each stock item, MYOB Acumatica tracks a basic set of item properties, such as the item's identifier, description, price, cost, units of measure, and default warehouse and vendor information. Stock items can have many additional properties, known as attributes in MYOB Acumatica, that do not affect item processing but may be important for analyzing the stock movements or item sales. See also inventory item and attribute.

statement cycle

The schedule for customer statements. You can also set up four aging periods that sort open documents by days past due. You can use the aging periods to prepare an AR aging schedule at the end of each month, which you can analyze to identify potential cash flow problems. Statement cycles can be assigned to customer classes and to individual customers. See also customer statement, aging period, customer class, and customer.

subaccount

A subcategory of the account that carries identifying information; in MYOB Acumatica, you use subaccounts with accounts to virtually split accounts into smaller, more specific ones. This gives you finer classification within the account for reporting and internal management purposes. While account identifiers carry information about the account type along with the actual account number, subaccount identifiers can provide such information as the division, department, and cost center. Each journal entry is recorded with the appropriate account and subaccount combination. See also account and journal entry.

subitems

Codes that can be used for further categorization of an inventory items. Subitems are used in the system if you have otherwise-identical products with different colors, sizes, or other properties tracked because of their importance to customers. Thus, under the same inventory ID, there may be a number of subitems—records about products that share all settings of the inventory item record but have additional properties that differ. If your site uses subitems, they should be specified for each inventory ID related to a stock item. See also inventory item, customer, and stock item.

T

table

An arrangement of similar objects or details, each displayed with the same number of properties, on many forms. In a details table, each row represents an object or detail (for example, an account, subaccount, document line, or journal entry) and its properties; elements specifying properties are grouped into columns.

table toolbar

A toolbar located above (and sometimes above and below) a Details table with buttons you can use to perform detail-related actions, including the following: add, edit, or delete details; filter details; perform custom actions; and rearrange details by changing the order of values in any column.

task

An activity that you have to complete before a due date but that doesn’t have a specific time or duration. By default, you create tasks for yourself, but you also can create tasks and assign them to other employees.

tax

A compulsory financial contribution imposed by a government. In MYOB Acumatica, you can configure taxes of the following major types: Sales, Use, VAT, and Withholding. The definition of each tax includes the tax rate (used to calculate the tax amount), the method of calculation, the effective date, and the accounts to which the tax amounts are posted. Each tax is reported to a specific tax agency and is paid to or claimed from the agency. See also account and tax agency.

tax agency

A tax authority, defined in as a vendor, that requires tax reports to be filed regularly. For your convenience, you can create a vendor class for tax agencies (local and federal). Each tax agency requires tax reports to be filed regularly. See also vendor and vendor class.

tax category

A list of taxes associated with a product or a service when it is purchased or sold. See also Taxes.

taxes

A functional area of MYOB Acumatica where you can enter the definitions of taxes, tax categories, and tax zones that are used across MYOB Acumatica for automatic tax calculation for every document and transaction. See also Taxes, tax category, and tax zone.

tax reporting group

An entity used to accrue taxable amounts and tax amounts charged on GL, AP, and AR transactions for tax reporting purposes. For example, a VAT requires two groups (input and output): one for tax amounts charged on sales, and another for tax amounts charged on purchases. A sales tax requires one output group for taxes on sales. Tax reporting groups are used to calculate the report lines for a report to a tax authority. For more information, see Tax Report

tax report lines

Lines configured for a tax agency as a combination of output and input reporting groups for various taxes associated with the same tax agency. See also tax agency and taxes.

tax zone

An area or tax jurisdiction where the same taxes are enforced. In MYOB Acumatica, a tax zone includes a list of taxes to be applied to a customer's invoice or a vendor's bill depending on the location.

U

user

A person who uses the ERP system. Once a user has been authenticated, the system checks the user's membership in roles. Users can view only the forms, articles, and elements authorized by their roles, and can perform only the actions permitted by these roles. Users may be members of restriction groups, which let them access specific entities included in the groups. See also role, form, and restriction group.

V

vendor

One of your company’s trade creditors. For ease of use, you can set up default values for vendor classes, individual vendors, and vendor documents. When users enter new bills, they must specify a vendor for each bill. Once they choose the vendor, certain elements on the form will be automatically populated with the vendor’s default values. The due date and available discount are calculated automatically, based on the vendor’s credit terms. See also vendor class and credit terms.

vendor class

A group of settings that provides default values when users create new vendor accounts. Divide vendors into classes based on the types of goods they sell or services they provide. See also vendor.

W

warehouse

A place where goods are stored. A warehouse in MYOB Acumatica does not necessarily represent one physical building where your inventory is stocked; you can divide a large physical storage space into several areas and define each as a warehouse in MYOB Acumatica. A warehouse can even be virtual: For example, all goods that are on the way to you from the supplier can be considered as located in the virtual goods-in-transit warehouse.

warehouse location

An actual or virtual place in a warehouse that can be used to receive, store, or issue specific goods or all goods. Each warehouse can include several locations. Warehouse location IDs are defined with the INLOCATION segmented key. See also warehouse.

wiki article

An entity that consists of digital content on a particular topic and makes up a wiki, along with other articles. Articles can be organized in folders in ways that best fit your needs.

wiki editor

The form, invoked when you click Edit for an open wiki article, that you use to edit both the article text and its properties.

wiki markup

The syntax used to create wiki articles. Using wiki markup, you can create articles, add headings, tables of contents, hint boxes, and warning boxes.
A mode in which you can edit wiki articles and view the wiki markup.

Wiki toolbar

A toolbar, appearing below the main menu when you open a wiki article, that provides a variety of actions you can use as you browse the wiki and work with articles. These actions include creating a new article, moving to the previous or next article in the wiki tree, and printing or deleting the current article.

Y

YTD (Year-to-Date) Net Income account

A special account, automatically maintained by the system, that records the net income (the difference between the amounts posted on income and expense GL accounts) accumulated since the beginning of the financial year. This difference is updated by every transaction posted. During closing of the financial year, the balance of the YTD Net Income account is transferred to the Retained Earnings account and is reset to zero for a new financial year. The YTD Net Income account should be of the Liability type and must be created before any actual data is entered. See also account and financial year.