Glossary Index

MYOB AccountEdge Terms

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icon

A graphic representation of an object that appears on a computer screen. Icons in MYOB AccountEdge include the zoom arrow and search icon.

identifier

A one-letter label used to group and organize cards in the Card File.

importing

The process of bringing data into MYOB AccountEdge from a different software program, or from a different MYOB software company file.

In a Given Number of Days

An MYOB AccountEdge setting to indicate that the payment due date and early payment discount date are based on a specified number of days since the transaction date.

inactive

A card, location or item that does not appear in Select From lists but still exists as a record and can be entered in a transaction manually. The card, location or item is marked inactive in the Card, Location or Item Information window if the record is rarely used. It can be made active again at any time.

income

Money received by a person or company in return for effort (work), or from returns on investments.

income account

An account that tracks the increase in equity from the sale of items or services. Also known as "revenue accounts'

Income accounts are assigned the prefix 4 in MYOB AccountEdge, and normally have a credit balance.

interest

The cost of borrowing money.

interest income

Income received from interest-earning assets.

inventoried item

A physical unit stored for possible sale to a customer. In MYOB AccountEdge, this is an item record for which "I Inventory This Item" has been marked.

inventory adjustment

The process of changing the quantity of an inventoried item to match the actual quantity on hand; also, the change in quantity.

Inventory Journal

A collection of information about transactions, containing the debit and credit amounts for affected accounts. In MYOB AccountEdge, the Inventory Journal contains transaction information affecting quantities of inventoried items.

invoice

The record of a sale. See Sales.

invoice statement

In MYOB AccountEdge, a statement that includes all open invoices, as well as any payments, and the corresponding balances. Quotes and orders never appear on an invoice statement.

item

In MYOB AccountEdge, a entry in the Items List. An item can be:

A physical unit that your company buys, sells or inventories
. If an item is built using other items, it is known in AccountEdge as a finished item. If an item is one of the building blocks for a finished item, it is known as a component.

A service that you include on item sales
layouts. This type of item is often referred to as a service item.

A physical unit that your company sells
(and may or may not buy or inventory) that you include on time billing sales layouts.

Item purchase

In MYOB AccountEdge, a transaction that indicates that items were purchased from a vendor. Item purchases record the purchase of both inventoried and non-inventoried items. Item purchases use the Item layout.

See also layout.

Item receipt

In MYOB AccountEdge, a transaction that indicates that items were received from a vendor without first receiving a vendor's bill. Item receipts record the purchase of inventoried items. Item receipts use the Item layout -- Receive Item status.

See also layout.

Item sale

In MYOB AccountEdge, a transaction that indicates that items were sold to a customer. Item sales record the sale of both inventoried and non-inventoried items. Item sales use the Item layout.

See also layout.

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