Finance workspace terminology

Term in Acumatica

Equivalent term in AccountRight

Description

Cash Account Transactions

N/A

This report displays summary information about cash account balances during the specified date range. (The date range you specify does not need to coincide with financial periods.)

Reconciliation Statement History

Reports- Banking- Reconciliation Report

You can use this form to view the history of reconciliations. You can filter the reconciliation statements by cash account and date range. From this form, you can also create a new statement with the On Hold status for the cash account you select.

Bank Transactions History

Reports- Banking- Bank Register

You can use this form to view the history of imported bank transactions being processed in the system. You can filter the list of transactions by cash account, date range, or statement number.

Term in Acumatica

Equivalent term in AccountRight

Description

Master Financial Calendar

N/A

Master Financial Calendar is used to review, generate, and delete financial periods. The start date of the financial year, the number of periods, and the period start and end dates are created and/or deleted in the Company financial Calendar (GL201100)

Allocations

Bank Rules

Allocation rules are created to automate the process of periodically distributing amounts posted to a particular account among other different accounts. For example, the splitting of expenses among different accounts. This option will only be available if the General Ledger Allocation Templates feature is enabled on the Enable/Disable Features (CS100000) form

Recurring Transactions

Recurring Transactions

Recurring Transactions is used to create and maintain scheduled batches. In addition, you can view the details of active and completed schedules.

Chart of Accounts

Accounts Command Centre
- Accounts List

Chart of Accounts is used to create and maintain the structure of accounts specific to your company. You specify the type of each general ledger account: Asset, Liability, Income, or Expense. Equity accounts are classified as Liabilities

Subaccounts

Header Account/ Detail Account

Subaccounts form is used to create and maintain the list of subaccounts for your company. You use subaccounts to virtually split accounts into smaller, more specific accounts to achieve finer classification, for reporting and internal management purposes

Term in Acumatica

Equivalent term in AccountRight

Description

Release Transactions

Record (singular only)

Release Transactions form lists all batches that have a status of Balanced. You can release either all batches or only those you select. A Hold status indicate that the batch is not ready for posting.

Release Cashbook Vouchers

N/A

Release Cashbook Vouchers form is used to release Balanced batches of documents that were prepared on the Journal Vouchers form. Upon release of the batch or batches that you have selected for processing, the system generates and releases actual documents of the specified types in the appropriate modules, which can be any of the following: General Ledger, Accounts Payable, Accounts Receivable, and Cash Management

Post Transactions

Record (singular only)

Post Transaction form is used to post batches of transactions (journal entries). When the form opens, it lists all batches with a status of Balanced or Unposted.

Run Allocations

Bank Transaction Screen

Run Allocations screen process all allocations that are active in a post period or only selected allocations. Batches will not be generated for the allocation you are running if the selected post period is closed. If you are processing the allocations manually, note that the allocations with the lowest Sort Order values should be processed first.
The batches generated as the result of processing allocations appear on the Release Transactions (GL501000) and Post Transactions (GL502000) forms. They can be modified and posted, as other batches can.

Generate Recurring Transactions

Recurring Transactions

On this form, you run a schedule or multiple schedules that the system uses to automatically generate recurring General Ledger transactions. The schedules to be processed are filtered based on the date that you specify in the Execution Date box of the Selection area of this form. You also need to specify the condition on which the system will stop running the schedules.

Reclassify Transactions

Bulk- Coding / Find and Recode (Browser Only)

On this form, you can initiate the process of reclassifying or splitting the transactions that you select. You can load the needed transactions to the table on this form by specifying the required selection criteria in the Load Transactions dialog box (which you invoke by clicking Load on the form toolbar). Alternatively, if you have navigated to this form from the Account Details (GL404000) or Journal Transactions (GL301000) form, the transactions you have selected already appear on the list.

Import Consolidation Data

Consolidated Reporting (Browser Only)
- Profit and Loss
-Balance Sheet
-Cash Movement Report

This form is used by the parent company to import consolidation data from its consolidation units. Data is imported for all open periods, and data is imported to the specified consolidation ledger of the parent company only if this data has been posted to the ledgers of the consolidation units since the previous consolidation. (see Consolidation under the Preference menu)

Manage Financial Periods

Lock Period
(Security Preferences)

Manage Financial Period page is used to manage financial periods in the system. A period can be closed in the general ledger only if it has been closed in the cash management, accounts payable, accounts receivable, inventory, and fixed assets subledgers. When you close a given financial period, all preceding periods will also be closed if they have not already been closed

Recalculate Account History

n/a

Recalculation of the account history in the selected ledgers. Balances are recalculated based on the account history records and are matched to the account balances stored in the database. You can recalculate the balances of ledgers of all types—Actual, Budget, Reporting, and Statistical.

Term in Acumatica

Equivalent term in AccountRight

Description

Budgets

Budgets

Used to create new budgets or to view and update existing budgets. Each budget should be saved in a dedicated ledger of the Budget type.

Release Budgets

Budgets

This form can be used to release budget articles. Once released, budget articles are stored in the appropriate ledger and are available for reports, budget consolidation, and comparison with the actual data.

GL Budget Edit

N/A

This report displays the list of budget articles with their released amounts in the selected ledger for the specified financial year; you can select other report parameters to view a more select group of budget articles (see Budget Configuration under Preferences). The report also lists the username of the employee who last updated each article.

Term in Acumatica

Equivalent term in AccountRight

Description

Account Summary

Find Transactions - Accounts

Inquiry provides summary information about all accounts for the selected financial period and any other criteria you specify.

Account by Subaccount

Find Transactions - Accounts

Inquiry provides information about activities on the selected account, broken down by subaccount.

Account by Period

Find Transactions - Accounts

Inquiry provides information about a particular account by financial period for the ledger and financial year you select.

Account Details

Find Transactions - Accounts

Inquiry allows you to view all activities in a specific account during the financial period or range of financial periods that you select. If you use subaccounts in your system, you can view activities for one subaccount or a group of subaccounts.

Term in Acumatica

Equivalent term in AccountRight

Description

Trial Balance Summary

Reports - Accounts - Trial Balance

This period-end report displays the account balances for the selected period. The report includes the beginning and ending balances, as well as the period’s total debits and credits.

Trial Balance Detailed

Reports - Accounts - Trial Balance

This period-end report displays the balances for accounts, including subaccount details, for the selected period.

Transactions for Period

Reports - Transaction Journals -
General Journal/
Reports- General Ledger Detail

This report displays the list of transactions that occurred during the period you specify. Transactions are grouped by account-subaccount pair, with each pair listed by transaction date.

Transactions for Account

Reports - Accounts - Accounts List

This report shows activities on the selected account and under the specified subaccount (if applicable) during the specified range of periods. Transactions and documents are listed by date.

GL Edit Summary

Reports- Accounts General Ledger (Summary)

This report displays the list of all the transactions that were entered but not released during the specified financial period. Transactions are shown with their status and with batch control totals in the base currency. Transactions are grouped by period and by the subledger where they originated.

GL Edit Detailed

Reports- Accounts General Ledger (Detail)

This report displays the list of transactions that were entered but not released during the specified financial period. Transactions, which are shown with all details, are grouped by the subledger where they originated.

GL Edit Account Distribution

N/A

This report shows transactions entered but not released for different accounts during the specified financial period (or range of periods). Batches are grouped by account–subaccount pair, and for each pair they are listed by date.

GL Register

N/A

This report displays the list of all batches released in the general ledger for the specified financial period. Transactions are listed by their date and shown with batch control totals in the base currency.

GL Register Detailed

Nothing exactly the same however similar- Reports- Accounts General Ledger (Detail)

This report displays the list of all batches posted to the general ledger during the specified financial period. Batch details in the report include accounts, subaccounts, currency, and debit and credit amounts. Transactions are grouped by period and by the subledger where they originated.

GL Recurring Transactions

Reports- Accounts- Recurring Transaction List

This report displays the schedule, or the list of schedules created for recurring transactions.

GL Recurring Transactions Detailed

Reports- Accounts- Recurring Transaction List

This report displays the details of the schedule or schedules to which recurring transactions are assigned.

GL Reversing Batches

N/A

This report displays the details of reversing batches for the specified batch.

Term in Acumatica

Equivalent term in AccountRight

Description

Balance Sheet

Reports - Balance Sheet

This report displays the company’s balance sheet for the selected ledger and financial period. Assets are shown against liabilities.

Balance Sheet - Comparative

Reports - Balance Sheet
[Multi-Period]

This report displays the company’s balance sheet at the start of the specified financial period. Assets are shown against liabilities. You must specify a period. The list of periods available for selection contains all periods defined in the system, including closed ones.

Profit & Loss

Reports - Profit & Loss

This report displays your company’s profits and losses for the specified period in period-to-date (PTD) and year-to-date (YTD) amounts, versus the PTD and YTD amounts of the previous year, as calculated for the same date.

Profit & Loss - Comparative

Reports - Profit & Loss
[Multi-Period]

This report displays your company’s profits and losses in year-to-date amounts for the specified period. The total amounts for the previous year are shown for comparison.

Profit & Loss - Quarterly

Reports - Profit & Loss
[Multi-Period]

This report displays your company’s profits and losses in year-to-date amounts for each quarter.

Cash Flow

Browser Only- Cash Movement Report

This report displays the cash flow statement of your company.

Term in Acumatica

Equivalent term in AccountRight

Description

General Ledger Preferences

Setup Menu

This form is used to configure the general ledger. The settings defined on this form include numbering sequences for GL batches, document and payment processing options, mailing settings, and special accounts used in the general ledger.

Financial Year

Setup- Company Information

Ledgers

N/A

You use this form to enter and maintain information about financial ledgers used in the system.   Each company that has been created in the system may have one actual ledger and an unlimited number of ledgers of other types (Actual Ledger, Reporting Ledger & Budget Ledger)

Inter-Branch Account Mapping

N/A

On this form, you can specify the rules to be used to automatically balance transactions between different branches (divisions) in the organisation.

Cashbook Voucher Entry Codes

N/A

On this form, you can view transaction codes for General Ledger, Accounts Payable, Accounts Receivable, and Cash Management documents and transactions; you can also enter new codes. Transaction codes are used to generate documents or transactions of particular types in specific modules, based on batch of documents entered on the Journal Vouchers (GL304000) form.

Budget Configuration

Accounts List- Budgets

You use this form to create a budget structure for your organisation or to view and modify the existing budget structure.
The budget structure is represented by a tree that consists of budget articles. Some of the budget articles are leaves, and some are nodes.

Consolidation

N/A

The parent company uses this form to set up consolidation with its consolidation units (that is, subsidiaries). The system uses the information provided on this form to import consolidation data from the consolidation units.

Account Classes

N/A

On this form, you can create new account classes and maintain and view the list of account classes in the system. MYOB Acumatica provides predefined account classes that can be modified if needed. Account classes are used for convenient grouping, sorting, and filtering of information associated with General Ledger accounts in reports and inquiries.

Report Definitions

N/A

This form, which is part of the MYOB Acumatica Analytical Report Manager, displays the properties of each defined analytical report. You can view or modify existing reports, create a new analytical report, and delete existing reports.

Row Sets

N/A

To define what data will be displayed in each analytical report and how it will be organised, you need to define the row set and column set; optionally, you can define the unit set. A row set defines the rows to be included in the report and the data to be displayed in each row.

Column Sets

N/A

To define what data will be displayed in each analytical report and how it will be organised, you need to define the row set and column set; optionally, you can define the unit set. A column set defines the columns to be included in the report and the data to be displayed in each column.

Unit Sets

N/A

Unit sets are used to organise the report structure when the groups of rows and columns included in the report use data from different data sources, or when formulas must be applied to calculate the report values based on the data from the particular groups of columns and rows.