Glossary Index

MYOB AccountEdge Terms

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rate

In MYOB AccountEdge, the price you charge for one unit of an activity that is billed in time units.

realized losses and gains

Actual changes in the value of your assets, liabilities and equity that occur when you exchange foreign currency for your local currency.

Recap Transaction

A window in AccountEdge that permits review of a journal entry before it's saved. This window may be helpful when viewing transactions such as sales and purchases for which the journal entry isn't apparent.

receive item

A purchase that records the receipt of an inventoried item when the item has been received with no vendor's bill. When you record a purchase using the Receive Item status, the information on it is added to an order; the quantities appear in the Received column of the order.

When you record a purchase using the Receive Item status, the on-hand quantity of the inventoried item is affected. The transaction doesn't affect the Accounts Payable account; it is assigned to the linked Liability Account for Item Receipts. A "Receive Item" can't be printed; the order, though, can be printed.

Receive Money transaction

In MYOB AccountEdge, a transaction that indicates the receipt of cash that is not a Receive Payment transaction (payment for a sale). These transactions may reflect actual deposits to a bank that will increase your checking account balance, or a deposit to replenish the amount of petty cash on hand.

Receive Payment transaction

A transaction that indicates the customer has made payment for a sale; also called customer payment.

reconciling

The process of verifying that a business's records for various accounts are consistent with the bank's records for the same accounts.

record

A collection of information about individual parts of accounting data. For example, information about a single customer is stored as one record.

recurring transaction

An accounting entry that occurs repeatedly, such as monthly rent.

reimbursable expense

An expense that is incurred on behalf of a customer for a job and that will be reimbursed by the customer.

report

In MYOB AccountEdge, documents that provide various types of reference about the information you've entered in the MYOB system.

report batch

In MYOB AccountEdge, a group of reports that are set up so that they can be printed at one time.

report header

A report section that's printed at the top of a page. Report headers typically include labels for each column in the report, as well as the date and time the report was printed.

restoring

The process of decompressing a backup file so it can be used. Choosing the MYOB AccountEdge Restore command is one way to accomplish this.

retainer

A fee paid by a customer to a vendor for a specified amount of time in advance of a service being provided. The use of the time is tracked until it is gone and the payment of a new fee is required to purchase additional time.

reversing

The process of offsetting the effects of an incorrect transaction by entering a new transaction, called a "reversing transaction' The reversing transaction reverses the debit and credit entries for the incorrect transaction.

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