181 terms. Underlined words in the articles open these definitions.
- Abbreviated invoice
A short invoice for counter sales, where VAT is taken out of a price that already includes it.
- Accumulated depreciation
The total depreciation posted for an asset so far. It is credited each time and reduces the asset's net value on the balance sheet.
- AD and BS Bikram Sambat
The two calendars dates are shown in: AD (Gregorian) and BS (Bikram Sambat). The company setting decides which one the screens show.
- Adjustment order order of adjustments
The Order number of a sales adjustment. Adjustments are applied one after another in this order, each on the running total, so a discount placed before VAT lowers the VAT.
- Adjustment reason stock-take in, stock-take out
Why stock was adjusted: Stock-take in or out, Expiry, Breakage, Damage, Donation, Stolen, Inventory issue or Finished goods receive. It decides whether stock goes in or out.
See Adjust stock: counts, damage, expiry and write-offs, Stock adjustment, stock transfer and expiry/breakage summaries
- Advance payment payment in advance
Money paid to a supplier before a bill exists. It sits on the supplier's account until it is matched.
See Pay a supplier and what clears what, What clears what in the customer's account
- Advance receipt advance, on account
Money received without naming an invoice. It lowers the customer's balance and is used against the oldest bills in ageing, but no single invoice shows as paid by it.
See Receive money from a customer, What clears what in the customer's account
- Against an invoice against voucher, against bill
A receipt line that names the invoice it pays. Naming the invoice is what makes that invoice show Paid or Partial.
See Receive money from a customer, What clears what in the customer's account
- Ageing aging, customer ageing
A report that sorts what customers owe by how old the bills are. All money received is applied to the oldest bills first.
Because ageing applies money oldest-first, it can differ from the invoice list, which follows the invoices that receipts name.
See Who owes us: outstanding and ageing, What clears what in the customer's account
- Alternative unit alt unit, alt quantity
A second unit a product can be counted in, for example boxes as well as pieces. When a product has one, both quantities are entered.
- Amount limit credit limit, credit amount limit
The most a customer may owe you at one time, set on the customer. A sale that would take the balance above it is stopped, warned about or ignored, depending on the limit action.
- Approval approver, data authorization, authorization
A second person's sign-off on a document, switched on per kind of document. While it waits, some documents do not yet post to the ledgers or stock.
- Approved quantity approved qty, order approval
When your company uses sales-order approval, an approver sets how much of each ordered line is approved. Only the approved quantity can be delivered or invoiced, and it cannot be more than the quantity ordered.
- Approver group
The group of employees who may approve one kind of document.
- Asset disposal dispose of an asset
Scrapping or selling an asset: the money received, the asset leaving its ledger and the gain or loss booked.
- Bank reconciliation reconcile, reconciliation
Marking each voucher on a bank account as cleared once the bank statement shows it. Reconciled vouchers cannot be edited.
See Reconcile a bank account with its statement, Change or delete a saved voucher
- Batch batch number
A lot of a product received together. For a batch-tracked product, the sale says which batch the goods come from.
- Bill of material BOM, recipe, bills of material
The recipe of a product: what one run makes, the raw materials it uses, the fixed costs and the by-products. It must be approved before an order can use it.
See Bill of material, Production: from the bill of material to finished goods
- Body length prefix and suffix
The number of digits of the running number in a series, at most 7. The whole number, prefix plus body plus suffix, is at most 20 characters.
- Book value
What a fixed asset is worth in the books after depreciation. On a fixed-asset sale, the book value typed on the line decides the gain or loss.
See Set up fixed assets and read the register, Sell a fixed asset
- Branch branches
A location of the company. Each document belongs to one branch. Numbering series, and the customer balance used in credit checks, are kept per branch.
See Branches and projects on sales documents, Document numbering for sales
- Branch Stock IN branch stock in
The receiving branch's half of a transfer: it names the Branch Stock Out it received and brings the goods into one of its warehouses.
- Branch Stock Out branch stock out
The sending branch's half of a transfer to another branch: the goods leave its warehouse and are on the road until the other branch receives them.
See Send stock to another branch, Move stock between warehouses with a stock transfer
- Buy rate purchase rate
The price you usually pay for a product, kept on the product. Purchase lines start with it. It is a price, not the cost of stock.
See Buy rate, sales rate and stock rate, Products: what the stock side needs from a product
- By-product scrap, by product
Something a production run also makes besides the finished goods. It comes into stock at the value you give it.
See Bill of material, Production journal: record production and approve it
- Cancel customer cancel product
Two stand-in records chosen in Configuration. A cancelled invoice is kept under the cancel customer, with zero amounts, so that its number still shows in reports.
- Cancel number reverse number
A cancelled invoice is given a number of its own, from a separate counter, so that cancels can be listed apart from invoices.
- Cancelled invoice invoice cancel, reversed invoice, reverse an invoice
A same-day invoice taken out of the books and out of the stock, with a record kept of who cancelled it and why. It needs the cancel feature switched on in your company, an invoice dated today, and no return on it.
A cancel does not touch the receipts saved for the invoice. They stay as credit on the customer's account until the accountant deals with them.
- Carried balances carry forward, carried forward
The balance-sheet balances and the profit or loss that closing a year brings into the next year.
See Close a fiscal year, Check the books with trial balance and ledger reports
- Cash bank summary cash book, bank book
Every receipt and payment of cash and bank accounts for a period, by day or by account.
- Cash purchase
A purchase paid at once from a cash or bank ledger instead of owed to a supplier. The screen asks for the seller's name and a cheque number and date.
- Cash sale cash sales
A sale paid when it is made. The due day is 0, and the screen saves a receipt together with the invoice so the customer owes nothing afterwards.
- Cash selling customer
A customer that always buys for cash. Its credit settings are switched off, so credit limits and credit days do not apply to it.
- Cheque entry PDC, post-dated cheque, post dated cheque
A record of a cheque you received or issued, dated today or later. It posts nothing until you deposit it, which then makes a real receipt or payment.
See Record and deposit cheques, Record cash you have not banked yet
- Cheque status
Due (waiting), Clearing (handed to the bank), Deposit (deposited; a receipt or payment exists) or Cancel. Deposit appears only by depositing.
- Closing lock lock the year, locked year
The lock on a closed year. While locked, documents dated in that year cannot be edited, deleted or approved in the screens. A closing starts unlocked.
- Closing stock closing stock value
The value of the stock on hand at the end of a period. The profit and loss and the balance sheet show it when you tick Include closing stock.
Stock documents post nothing to the ledgers, so the reports read the stock entries for this figure. The year closing saves it as the next year's opening stock.
See Closing stock in the profit and loss, the balance sheet and the year end, Stock valuation: what your stock is worth, Close a fiscal year
- Composite product combo product
A product made of other products, defined once on the Composite product tab and made by bundling.
See Bundling and unbundling products, Products: what the stock side needs from a product
- Configuration
The company's settings screen: the ledgers selling needs, the cancel customer and product, the VAT adjustment, negative stock, print copies and more.
People pick up a change the next time they sign in.
See Company settings that change selling, Set up before the first sale
- Contra journal voucher branch transfer journal
A journal that moves a ledger's balance from one branch to another for companies that keep their books by branch.
See Move ledger balances between branches, Branches and projects on sales documents
- Contra voucher contra
A transfer between two of your own cash or bank accounts, such as cash banked or bank to bank.
See Move money between cash and bank with a contra voucher, Which voucher do I use?
- Cost center cost centre
A heading that production documents are booked against. Every bill of material, order and journal needs one.
- Cost of goods sold COGS, cost of sales
What the goods you sold cost you. Penahak does not post it to a ledger; the Profitability Report and the profit and loss show it.
The profit and loss works from opening stock, purchases and closing stock. The Profitability Report shows sales against the first-in-first-out cost by product.
See How stock is valued and what a sale costs, Profitability Report: sales against cost, Closing stock in the profit and loss, the balance sheet and the year end
- Credit note
A note that credits a customer or supplier account with no goods or money: a discount given, or an extra charge from a supplier.
- Credit sale credit sales
A sale the customer pays later. It stays owed for a number of days, the due day, until the customer pays it.
See Cash sales and credit sales, Credit limit and credit days on sales screens
- Currency rate exchange rate
The rate that turns a document in a foreign currency into the company's currency. A document in another currency needs a rate for its date.
- Current number Start no, End no, Current no
The number the series gave last. The next document gets the one after it. A series refuses a current number at or above its end number, which the body length sets.
- Current pay
On a payment or receipt against bills, the amount you are settling for one bill now. With TDS, current pay plus TDS cannot exceed what the bill has left.
See Pay a supplier or an expense with a payment voucher, Record any money received with a receipt voucher
- Customer ledger customer account
The customer's account in the books: what they owe you, or what you owe them. A credit sale adds to it; a receipt or a return takes from it.
- Day book
A report that lists every voucher of a day or a period in date order.
See See cash, bank and daily transactions, A day as accountant, The sales register and sales reports
- Day limit credit days, credit day limit
The longest a customer may take to pay, set on the customer. A sale with more due days, or a customer whose oldest unpaid bill is already that old, is stopped, warned about or ignored.
- Debit and credit debit, Dr and Cr
The two sides of every entry. An invoice debits the customer (they owe more) and credits sales; a receipt credits the customer (they owe less).
Every voucher is balanced: the debits and the credits add up to the same amount.
See The books: ledgers, vouchers and the invoice, What a sale changes in the books
- Debit note
A note that debits a customer or supplier account with no goods or money: a supplier's price correction, or an extra charge to a customer.
- Default warehouse default godown
The warehouse of a branch that the point-of-sale and the restaurant take stock from. One per branch. It does not set the warehouse an invoice line starts with.
See Warehouses (godowns), Which warehouse a document line uses
- Delivery note sales challan, challan, goods delivery note
Records goods leaving the warehouse for a customer before they are invoiced. It moves stock but writes nothing to the customer's account.
See Deliver goods with a goods delivery note, From quotation to order, delivery note and invoice
- Deposit a cheque cheque deposit, cancel deposit
The step that turns a cheque entry into a receipt or payment on the deposit date. Deposit Cancel on the cheque puts it back to Due and removes that voucher.
- Depreciation depreciate
The part of an asset's cost counted as used up in a period: debited to the depreciation expense and credited to accumulated depreciation.
- Dispatch slip dispatch number
A printed slip for the driver, made from a goods delivery. It carries a dispatch number that groups the rows sent together.
- Due day due days, credit period
The number of days a customer has to pay a credit sale. 0 means the sale is paid at once.
The invoice's due date is its date plus the due days. After that date an unpaid invoice is overdue.
See Cash sales and credit sales, Credit limit and credit days on sales screens
- Entry control
A company screen that decides which optional fields the sales screens show and a few of their rules.
- Expiry date
The last day a quotation or an order can be used. After it the document shows Expired and can no longer be turned into another document.
- Financial year closing year closing, close the year
The step that carries the balance-sheet balances and the year's profit or loss into the next year and makes the next year active.
- Finished goods finished product
The product a production run makes. The approved quantity comes into stock at the total cost shared over the quantity produced.
See Production journal: record production and approve it, What production changes in stock and in the books
- First in, first out FIFO, first-in first-out
The way Penahak values stock: the oldest goods are taken to be sold first, so a sale costs what the oldest pile cost.
Every purchase is a pile of goods with its own cost per unit. A sale takes from the oldest pile first. What is left is valued at the cost of the newer piles. The field Valuation technique on a product does not change this in this release.
See How stock is valued and what a sale costs, Stock valuation: what your stock is worth
- Fiscal year financial year
The accounting year. Only one is active at a time. Sales documents must be dated inside it, and numbering series are made for it.
- Fiscal year IRD name IRD fiscal year name
The name of the fiscal year in the form the IRD expects. It must be different for every fiscal year.
- Fixed asset asset register
Something you keep and use for years, such as a vehicle or machine. Each unit has a serial number, a book value and depreciation rules.
See Set up fixed assets and read the register, Buy a fixed asset
- Fixed cost (production) production fixed cost
A cost of a production run that is not a raw material, such as labour or power. Its amount is added to the cost of the finished goods; its ledger is only a label.
See Bill of material, What production changes in stock and in the books
- Fixed-asset sale fixed asset invoice
An invoice for selling a fixed asset instead of stock. The gain or loss is the sale amount against the book value.
- Formulation QTY formulation quantity
The quantity the raw material ratios of a journal are for. Changing it rescales the raw materials, the fixed costs and the by-products.
See Production journal: record production and approve it, Bill of material
- Full-page invoice full-page invoice entry
A way to make an invoice on one page: customer, lines, adjustments and payment together, with the checks shown beside each field and line as you type.
- Goods delivery delivery trip
The record of the trip that takes goods to a customer: who delivered, the vehicle and driver, the packets and the weight. It posts no money and moves no stock.
- Goods in transit stock on the road, stock in transit
Goods sent by Branch Stock Out that the other branch has not yet received. They are in neither branch's stock.
- Goods received note GRN, purchase challan
The record that goods have arrived from a supplier. It adds stock but not the supplier's bill.
See Receive goods with a goods received note, Enter a purchase invoice
- Grid invoice
An invoice entered in a grid, for fast entry of many lines. It never allows a quantity above the stock balance.
- Import purchase import bill
A purchase from abroad. The purchase invoice has an import part for the letter of credit, the customs declaration and the exchange rate.
- Inventory type product mode
Purchase, Sales or Both: which documents offer the product. A product marked Purchase is not offered on a sales invoice.
See Products: what the stock side needs from a product, Why a product is not offered on a document
- IRD Inland Revenue Department
The Inland Revenue Department, the tax office. Companies that use IRD send the details of each invoice and return to it.
- IRD record IRD API
The record on the IRD API screen: your PAN and the user name and password the IRD gave your company for sending bills. Keep exactly one record.
- IRD-ready IRD ready
Penahak builds and sends the bill details in the form the IRD asks for. The word describes what the system does, not a statement by the IRD about your company.
- Journal voucher journal
A voucher that moves value between ledgers with no money moving: corrections, accruals, write-offs and expenses with TDS. Debits must equal credits.
See Make adjustments with a journal voucher, Which voucher do I use?
- Landed cost per unit costing
What a purchased unit really cost: its price plus freight, customs and other costs marked Stock valuation.
See Landed cost details, Add a cost to a purchase with an add-on voucher
- Ledger ledger account
A named account in the books, such as a customer, the cash drawer, sales or VAT. Each sale adds figures to a few of them.
Customers, suppliers, cash, banks, sales, VAT and expenses are all ledgers. A ledger's balance is what its entries add up to. You do not post to a ledger by hand when selling: the screens do it when you save an invoice or a receipt.
See The books: ledgers, vouchers and the invoice, Create a customer
- Letter of credit LC, LC number
The bank guarantee behind an import. On an import purchase the LC party is the foreign agent you import through; the message asking for an LC number means the pragyapan patra number.
- Limit action Amount limit action, Day limit action
What the screen does when a limit is crossed: Ignore does nothing, Warning asks you to confirm, Block refuses the sale.
- Materialized view report materialised view report, materialized view
A list of invoices and returns showing whether each reached the IRD, who entered it and who printed it.
See The Materialized view report, How bills reach the IRD, and what to check when one does not
- Maximum stock max stock
The most you want to hold of a product. Stock status shows it next to the quantity. It does not stop any document.
- Minimum stock min stock
The least you want to hold of a product. Stock status shows it next to the quantity. It does not stop any document.
- Narration notes template
The words on a voucher line saying what it is for. A saved note can be picked instead of typed again.
- Negative stock
Selling more of a product than the warehouse holds. Your company's setting decides: allow it, warn about it or block it.
See Company settings that change selling, Raise a sales invoice, Negative stock: where Penahak checks it
- Numbering series document numbering, document number series
The rule that gives each document its number: a prefix, a running number of a fixed length and a suffix, for one kind of document, one branch and a range of dates.
A sales screen has no Add button for a user whose branch has no valid series for it. Cancelled documents keep their numbers; a deleted document does not give its number back.
- Opening balance opening amount, voucher-wise opening, bill-wise opening
What a customer already owed you (or was owed) when you started using Penahak, entered as one amount or, for bill-wise opening, bill by bill.
See Customers' opening balances, Suppliers' opening balances, Enter ledger opening balances, Create a customer
- Opening entry date
The day before the fiscal year starts: the date opening balances are posted on.
- Opening stock product opening, opening quantity
The stock you hold on the day you start: each product's warehouse, quantity and rate, entered once on Product Opening.
Opening stock is a stock entry dated the opening entry date. It posts nothing to the ledgers.
See Opening stock, Closing stock in the profit and loss, the balance sheet and the year end
- Opening trial difference in opening trial
A report of the balance-sheet balances at the start of a date. Its difference must be zero.
See Enter ledger opening balances, Check the books with trial balance and ledger reports
- Outstanding amount outstanding balance, amount outstanding
What a customer still owes, on one invoice or in total, after receipts and returns.
See What clears what in the customer's account, Who owes us: outstanding and ageing
- Outstanding quantity quantity left
What is still left to deliver or invoice on an order or delivery note: the ordered (or approved) quantity minus what later documents already used.
See From quotation to order, delivery note and invoice, Take a sales order
- Outstanding summary supplier outstanding
A report of what is owed, party by party, without the bill detail.
- Over-payment receipt over payment, overpayment
A receipt for more than the invoice's outstanding amount. It is refused unless your company has switched on Over payment receipt applicable.
See Receive money from a customer, Company settings that change selling
- Overdue past due
Unpaid and past its due date.
See Who owes us: outstanding and ageing, What clears what in the customer's account
- PAN permanent account number, PAN or VAT number
A customer's nine-digit tax number. It is sent to the IRD with each bill, and each customer must have a different one.
See Create a customer, How bills reach the IRD, and what to check when one does not
- Party invoice number supplier invoice number, party invoice no
The supplier's own number and date for a bill. Enter it on the purchase invoice: the VAT purchase report and your supplier statement use it.
- Pay from
The cash or bank account a payment leaves. The list shows only cash and bank accounts unless your company allows others.
- Payment status invoice status
On the invoice list: Unpaid, Partial, Paid, Paid With Return, Partial Return, Returned or Reversed.
See What clears what in the customer's account, Raise a sales invoice
- Payment type
What a payment is for: Against voucher (named bills), Advance, Supplier (on account) or Other (an expense or other ledger).
See Pay a supplier or an expense with a payment voucher, Pay a supplier and what clears what
- Payment voucher
The voucher for money going out of cash or bank: to a supplier or for any expense. Against a bill it clears the bill.
See Pay a supplier or an expense with a payment voucher, Pay a supplier and what clears what
- Pragyapan patra pragyapan patra number
The customs declaration paper of an import. Its number is kept on the import purchase.
- Product adjustment product-wise adjustment
A sales adjustment that is worked out on each product line (Product wise is ticked) instead of on the whole bill, for example a discount on one product.
See VAT, discounts and sales adjustments, Set up VAT, discounts and other sales adjustments
- Product aging stock ageing, product ageing
How long stock has been held, shown in ageing columns such as 1-30 and 31-60 days. Useful for finding slow-moving goods.
- Product bundle bundling, bundle
Turning several products into one composite product, such as a gift box. The parts go out of stock and the bundle comes in. Nothing is posted to the ledgers.
- Product category product group, sub category, parent category
A heading that groups products for reports and for default profit and stock levels. A category can sit under a parent category.
A category never changes a posting: the ledgers come from the product.
See Product categories and sub categories, Product mapping and warehouse mapping
- Product lock locked product
Switching a product off for documents: it is no longer offered on lines and disappears from Stock status, but keeps its stock and history.
See Lock a product, Why a product is not offered on a document
- Product mapping
Putting many products into a category, sub category or secondary group at once, instead of editing each one.
See Product mapping and warehouse mapping, Product categories and sub categories
- Product type stocked item, inventory item
Whether a product is a stocked item, a service or a fixed asset. Only stocked items have stock.
See Stocked items, services and fixed assets, Products: what the stock side needs from a product
- Product unit unit of measure
The unit a product's stock is counted in, such as piece or kilogram. A second unit can be set with a fixed conversion.
- Production journal production entry
The record of what was actually made. Saving it moves no stock; approving it at the quality check does.
See Production journal: record production and approve it, What production changes in stock and in the books
- Production order
A plan to make a quantity of a product from an approved bill of material. It moves no stock.
See Production order, Production: from the bill of material to finished goods
- Provisional cash provisional cash voucher
Cash collected or paid before it is booked to an account. It posts nothing until you deposit it.
See Record cash you have not banked yet, Record and deposit cheques
- Provisional sales return provisional return
A return saved for approval. Nothing changes in the books or in stock until an approver approves it; then it becomes a real sales return with its own number.
See Provisional sales return, approved later, Take goods back with a sales return
- Purchase add-on voucher purchase additional
A cost that arrives after the bill, such as freight or duty, added to a purchase invoice.
See Add a cost to a purchase with an add-on voucher, Enter a purchase invoice
- Purchase adjustment purchase term, purchase terms
A line added to a purchase bill after the goods: VAT, a discount, freight or duty. Each says which ledger it goes to and whether it counts in the stock value.
See Set up VAT, discounts and other purchase adjustments, Enter a purchase invoice
- Purchase ledger purchases ledger
The account that a purchase debits for the value of the goods, unless the product has its own. Set in Configuration; purchase screens refuse to open without it.
See Company settings that change buying and vouchers, What a purchase changes in the books and in stock
- Purchase order PO
Your order to a supplier. It posts nothing; goods received and the bill are made against it.
See Place a purchase order, Receive goods with a goods received note
- Purchase quotation supplier quotation
A supplier's price for goods you may buy. Quotations can be compared on the analysis report and one placed on order.
- Purchase requisition requisition, purchase indent
An internal request to buy something, saying what is wanted and by when. It does not touch the books.
- Purchase return return to supplier
Goods sent back to a supplier. It lowers what you owe the supplier and the stock.
- Purchase return ledger
The account that a purchase return credits for the value of the goods sent back. Set in Configuration with the purchase ledger.
See Company settings that change buying and vouchers, Return goods to a supplier
- Purchase VAT adjustment
The adjustment that carries VAT on purchases. It is named in Configuration; the VAT purchase reports find the VAT in it.
See Set up VAT, discounts and other purchase adjustments, The VAT purchase reports
- Quality check quality pass, rejected quantity
The approval of a production journal: you enter how many units passed. Only those come into stock; the rest is lost from the stock value.
See Production journal: record production and approve it, Production reports
- Raw material raw materials
A product used up in production. It goes out of its warehouse when the production journal is approved.
See Production journal: record production and approve it, Bill of material
- Receipt voucher customer receipt, receipt
Records money received from a customer. It lowers what the customer owes and adds to the cash or bank ledger it was deposited to.
- Reconciled not reconciled
A voucher line confirmed against the bank statement. It is locked against edits until the reconciliation is reverted.
- Recurring invoice recurring invoices
A template that makes invoices again on a schedule (daily, weekly, monthly, yearly or custom). The automatic run must be switched on for your company.
- Reference voucher reference no
The customer's own number for a document, such as their purchase order number. When Reference no is on, the screen warns if the same one is already on another invoice.
See Raise a sales invoice, Company settings that change selling
- Reorder level
The quantity at which it is time to buy again. A nightly alert, when switched on, lists products at or below it.
- Reprint print count
Every print of an invoice after the first is counted and marked as a reprint, with who reprinted it and when.
- Reschedule rescheduled cheque
Moving a cheque to a later date at the party's request. The cheque keeps its number and history and shows the new date.
- Revenue code TDS type
The tax office's code for a kind of payment on which TDS is held. Each TDS type has a revenue code and a plain description.
See Set up TDS
- Sales add-on voucher add-on voucher, sales additional
A charge or cost added to an invoice that is already saved, as a voucher of its own, so the invoice itself does not change.
See Add a charge or cost to an invoice (sales add-on voucher)
- Sales adjustment bill term
A rule that adds to or takes from an invoice amount, such as VAT, a discount, a delivery charge or rounding. It is set up once and then applied on invoices.
Each adjustment has a name, a category, a rate or an amount, a sign (adds or subtracts), a ledger where its amount is booked, and an Order. In the system an adjustment is called a bill term; the menu entry is Sales Adjustment.
See Set up VAT, discounts and other sales adjustments, VAT, discounts and sales adjustments
- Sales agent agent
A person who brings sales, optionally linked to a user. Choosing one on a document lets reports group sales by agent.
- Sales area
A region customers are grouped into, for reports and filters.
- Sales invoice sales bill, tax invoice
The document that records a sale: the customer owes the amount or pays at once, stock leaves the warehouse, and VAT is counted.
The standard screen is Sales Invoice. There are also quicker forms (abbreviated, grid and full-page) and a form for selling a fixed asset. All of them make the same kind of document, numbered from the same series.
- Sales ledger product sales ledger
The income account an invoice's sales amount is credited to. A product can have its own sales ledger; otherwise the one set in Configuration is used.
See Company settings that change selling, What a sale changes in the books
- Sales order
A customer's confirmed request. It changes neither the books nor the stock. A delivery note or an invoice then uses it, and its status shows what became of it.
The status is Not used, Used on gdn (a goods delivery note), Used on bill, Expired or Cancelled.
See Take a sales order, From quotation to order, delivery note and invoice
- Sales order cancellation order cancel, order cancellation
A document that cancels all or part of what is left on an order, so that quantity can no longer be delivered or invoiced.
- Sales quotation quotation
A price offer to a customer. It changes neither the books nor the stock. Its status is Not used, Used on order or Expired.
See Give a customer a quotation, From quotation to order, delivery note and invoice
- Sales rate selling rate, selling price
The price you usually sell a product for, kept on the product. Sales lines start with it.
A rate for a customer, from a date, or for a batch applies before it. Profit reports compare the sale with the cost, not with the buy rate.
See Buy rate, sales rate and stock rate, Products: what the stock side needs from a product
- Sales return
Takes goods back from a customer. Stock goes back in, the customer's account is credited and the sales return ledger is debited.
See Take goods back with a sales return, What IRD-ready means
- Sales return ledger
The ledger a sales return is debited to. It is set in Configuration, and selling is stopped until it is set.
See Company settings that change selling, Take goods back with a sales return
- Salvage value scrap value
What a fixed asset is expected to be worth at the end of its life. It is left out of the amount to depreciate.
- Serial number
A unique number that each unit of a tracked product carries. When such a product is sold, one number is entered for each unit.
- Service job service job card
A job card for repair or service work: the problems reported and the details of the work done. The company sets the service type in Configuration.
See Service jobs
- Service product service item
A product with no stock: delivery, installation or labour. It can be sold and bought but never gets a stock entry.
- Service supplier
On a journal voucher with TDS, the supplier who provided the service and is credited with the net amount.
- Stock adjustment adjust stock
A document that puts goods into or takes goods out of a warehouse for a reason such as a count difference, damage, expiry or theft. It makes no ledger entry.
The loss shows in the profit and loss through a lower closing stock.
See Adjust stock: counts, damage, expiry and write-offs, Count the stock and correct the differences
- Stock count stock-take, physical count, stock take
Counting the goods on the shelf and comparing with the books. Penahak has no count screen: each difference is entered as a stock adjustment.
See Count the stock and correct the differences, Adjust stock: counts, damage, expiry and write-offs
- Stock entry stock entries, stock movement, stock movements
One line that says goods came into or went out of a warehouse: the product, the warehouse, the date, the quantity and the value.
Penahak does not keep a typed balance. It keeps a list of stock entries, and the balance is what they add up to. Every document that moves stock writes its entries, and editing or deleting the document replaces or removes them.
- Stock on hand stock balance, balance quantity, on hand
The quantity of a product in a warehouse on a date: everything that came in up to that date, less everything that went out.
The reports add up the stock entries to give this figure. The product list also has a Stock on hand column, which is a running total kept on the product and can differ from the reports: trust the reports.
See How stock works, Stock summary, When stock, products or production go wrong
- Stock rate average cost, cost rate
The cost of one unit of what is in a warehouse now: the value of the stock divided by its quantity. It is the cost, not a price.
Documents propose the Stock rate for transfers and returns. When the warehouse is empty the product's Buy rate is shown instead.
See Buy rate, sales rate and stock rate, How stock is valued and what a sale costs, Move stock between warehouses with a stock transfer
- Stock Re-calculation stock recalculation, re-pricing, repost
Bringing the cost of every sale up to date from the stock entries. Most value reports do it by themselves; Stock ledger details does it when you tick the box.
Penahak does not fix the cost of a sale when you save it. The cost is worked out when a value report runs.
See How stock is valued and what a sale costs, Stock ledger details
- Stock transfer godown transfer, warehouse transfer, transfer of stock
A document that moves goods from one warehouse to another. It changes where the goods are, not what you own, and posts nothing to the ledgers.
The goods leave the From warehouse at their cost and arrive in the To warehouse at the rate on the line.
See Move stock between warehouses with a stock transfer, Send stock to another branch
- Stock value balance value, value of stock
What the goods in stock are worth: the cost of what is left, first in, first out.
Each stock entry has a value. The stock value of a product is the value of everything that came in less the cost of everything that went out. The total is your closing stock.
See How stock is valued and what a sale costs, Stock valuation: what your stock is worth, Closing stock in the profit and loss, the balance sheet and the year end
- Supplier vendor
Someone you buy from. A supplier is a ledger under Sundry creditors: what you owe it is its balance.
- Supplier ageing payables ageing
A report that sorts what you owe suppliers by the age of the bills. Payments and returns are applied to the oldest bills first.
See What we owe: outstanding and supplier ageing, Who owes us: outstanding and ageing
- Supplier statement supplier ledger report
Every bill, payment, return and note of one supplier in date order, with a running balance.
See A supplier's statement and balance, Pay a supplier and what clears what
- Supplier type customer type
Whether a supplier is personal, private, proprietorship or limited. With the tax type it decides the TDS rate.
- Sync with IRD IRD synchronization, IRD data synchronization
Sending an invoice or return's details to the IRD. It is tried right after saving; if it fails it is tried again on a schedule, and the accountant can press IRD data synchronization to send everything waiting.
See How bills reach the IRD, and what to check when one does not, The Materialized view report
- Tax invoice print copies
When IRD is on, the first print of an invoice comes out in this many copies (one, two or three). Later prints are single reprints.
See Print and reprint invoices, Company settings that change selling
- Tax type
Whether a party has a PAN, a VAT number or none. With the supplier type it decides which TDS rate applies.
- TDS tax deducted at source
Tax held back from a payment and paid to the tax office. Book it on a journal voucher; the TDS report lists it. A TDS amount typed on a payment or receipt against an invoice counts against the invoice but may not reach the books.
See Set up TDS, Deduct TDS when you book or pay an expense, TDS report, Receive money from a customer
- TDS master TDS rate
One TDS rate: a percentage and a payable ledger for a TDS type, a supplier type and a tax type.
- TDS payable ledger
The account that holds TDS you have held back and not yet paid to the tax office.
- Trial balance
A list of every ledger's balance. Its debit and credit totals must be equal.
- Unbundling local unbundling, unbundle
Breaking a product or a composite product back into parts, such as a carton into pieces.
- Unit QTY and Alt unit QTY Unit QTY, Alt unit QTY, conversion factor
The two numbers that say how much of the unit equals how much of the alternative unit, for example 12 pieces and 1 dozen.
The alternative quantity is the quantity times the Alt unit QTY divided by the Unit QTY.
- VAT value added tax
Value added tax. It is set up as a sales adjustment that adds a percentage to the taxable amount. Products can be marked VAT applicable or not.
VAT is worked out on the lines marked VAT applicable, after any discount that comes before it in the adjustment order. The VAT sales reports list the taxable amount and the VAT for each invoice.
See VAT, discounts and sales adjustments, The VAT sales reports
- Vatable amount taxable amount
The part of an amount on which VAT is charged. A note or journal line with a vatable amount can appear on the VAT reports.
- Voucher vouchers
Any entry saved in the books: an invoice, a receipt, a return and so on. Each has a number and a date.
Some screen names use the word, such as Receipt Voucher and Sales add-on voucher. A voucher is saved as a whole: when a save is refused, none of it is recorded.
See The books: ledgers, vouchers and the invoice, What a sale changes in the books, Which voucher do I use?
- Warehouse godown, store
Where stock is kept. Each stock line says which warehouse the goods leave from or arrive in. Some screens and menus say godown or store.
See Raise a sales invoice, Company settings that change selling, Warehouses (godowns), Which warehouse a document line uses, Reading stock by warehouse
- Warehouse mapping godown mapping
Saying which products belong to which warehouse. A warehouse that has mapped products offers only those on its document lines.
See Product mapping and warehouse mapping, Why a product is not offered on a document