Appendix C lists a glossary of terms used in Computer Accounting with Peachtree Complete 2007, Release 14, Eleventh Edition. The number in parentheses refers to the textbook page. Appendix C is also included on the textbook website at www.mhhe.com/yacht2007, link to Student Edition, then Glossary.

accounting equation	The accounting equation is stated as assets = liabilities + owner's equity. (p. 704)
accounts payable	The money a company owes to a supplier or vendor. (p. 378)
accounts payable ledger	Shows the account activity for each vendor. (p. 401)
accounts payable transactions	Purchases of merchandise for resale, assets, or expenses incurred on credit from vendors. (p. 378)
accounts receivable	Money that is owed by customers to the business. (p. 440)
accounts receivable ledger	Shows the account activity for each customer. (p. 451)
accounts receivable transactions	Credit transactions from customers. (p. 440)
activity items	An item class for time and billing. (p. 231)
ASCII	An acronym for American Standard Code for Information Interchange. A standard format for representing characters on a computer. Most word processing, spreadsheet, and database programs can read ASCII files. (p. 614)
assets	The economic resources and other properties that a business owns. (p. 704)
audit trail	The path from the source document to the accounts. (p. 175)
average cost	A method of computing inventory. (See weighted-average method). (p. 405)
backing up	A copy of a data file typically stored on the hard drive or external media. (p. 17)
balance sheet	Lists the types and amounts of assets, liabilities, and equity as of a specific date. (p. 265)
bank reconciliation	The process of bringing the balance of the bank statement and the balance of the cash account into agreement. (p. 291)
batch posting	Journal entries are held in temporary storage on your disk and not made part of the permanent records of the company until you decide you are satisfied with them and select Post from the icon bar. After you post, the General Ledger and all other accounting reports are updated. (p. 106)
bitmap	Refers to the dots (pixels or picture elements) on the display window. (p. 600)
business status center	When you open a company, the Business Status Center appears. Like a car's dashboard it tells you what you need to know in one place. (See dashboard.) (p. 6)
case sensitive	Refers to the use of lowercase and uppercase letters. When coding a customer or vendor, you must use either a capital or lowercase letter. For example, a vendor code that is A002 will not be recognized if a002 is typed. (p. 63)
cash disbursements journal	All payments of cash are recorded in the cash disbursements journal. In Peachtree, the Payments task is the cash disbursements journal. (p. 406)
cash receipts journal	In Peachtree the receipts task posts to the cash receipts journal. (p. 451)
charge items	An item class for time and billing. (p. 231)
chart of accounts	A list of all the accounts used by a company, showing the identifying number assigned to each account. PCA has over 70 sample charts of accounts. (p. 152)
coding system	A combination of letters and numbers that are used to identify customers and vendors. The coding system is case sensitive, for example, A002 is not the same as a002. (See case sensitive.) (p. 62)
command objects	Command objects are used by PCA to tell the program what to do next when printing forms. (p. 601)
credit memos	Refunds for merchandise that is returned by a customer. Also known as a credit invoice. (p. 116)
customer ledger	Shows account activity for each customer. (p. 451)
dashboard	The Business Status Center shows you in one place what you need to know about the business—data relating to account balances, who owes you what and what bills need to be paid, who your most profitable customers are, etc. (p.6).
data objects	A data object is either taken directly from information you have typed or derived from such information. (p. 600)
default	Information that displays in windows or information that is automatically used by the system. You can change the default by choosing another command. (p. 30)
desktop	Depending on how your computer is set up, various icons appear on your desktop when you start Windows. (p. 7)
dialog box	A window that appears when the system requires further information. You type information into dialog boxes to communicate with the program. Some dialog boxes display warnings and messages. (p. 29)
drill down	The act of following a path to its origin for further analysis. In certain Peachtree reports, you can click transactions to drill down to the task window. For example, from financial statements, you can drill down to the general ledger report; then you can drill down to the task window. (p. 75)
drop-down list	The down arrow means that this field contains a list of information from which you can make a selection. Many of PCA's windows will have drop down lists. When you click on the arrow next to a field, the list appears. You can press <Enter> or click your mouse on an item to select it from the list. (p. 11)
ellipsis (...)	A punctuation mark consisting of three successive periods (...). Choosing a menu item with an ellipsis opens a dialog box. See glossary item, dialog box. (p. 29)
equity	The difference between the assets and liabilities or what the business has left after the debts are paid. (p. 704)
exemptions	These are withholding allowances claimed by the employee. The number of exemptions or withholding allowances usually includes one for the employee, one for the employee's spouse, and one for each dependent. (p. 516)
expense tickets	Used to track and aid in the recovery of customer-related expenses. (p. 230)
exporting	Copies Peachtree data into a format that other programs can read and use. (p. 612)
external media	Examples of external media include floppy disks; CD-R; DVD-R; USB flash drive; Zip disks. External media of this type can be used for backing up Peachtree data. (p. 18)
FICA taxes	This deduction from wages is also called the social security tax and provides qualified workers who retire at age 62 or older with monthly payments from the federal government. A portion of this tax is for Medicare. (See Medicare.) (p. 516)
fields	An individual piece of data, for example, the account number for sales or a customer's name. (p. 612)
FIFO	First in, first out method of inventory assumes that the items in the beginning inventory are sold first. (p. 489)
files	A group of related records; for example, customer files and journal files. (p. 612)
filter	Filtering allows you to select specific types of activities and events. (p. 10)
global options	Settings that affect the entire program. When you set global options for one company, you set them for all companies. You can access these settings from the options menu. (p. 15)
graphical user interface (GUI)	you to interact with PCA. The key is the Windows environment: the menus, dialog boxes, and list boxes. A mouse simplifies use of the GUI, but it is not required. (p. 1)
group objects	Group objects are combined data objects arranged in columns. (p. 601)
HTML	HTML is an abbreviation for Hypertext Markup Language. Peachtree's Help topics are displayed in HTML. (p. 152)
icons	Small graphic symbols that represent an application or command. Icons appear on the screen when Windows programs are used: file folder, eraser, clock, hour-glass, etc. (p. 1)
icon bar	The icon bar shows pictures of commands or additional information that pertain to the window. Some icons are common to all windows while other icons are specific to a particular window. (p. 9)
internal control	An integrated system of people, processes, and procedures that minimize or eliminate business risks, protect assets, ensure reliable accounting, and promote efficient operations. (175)
importing	Translates data from other programs into a format that Peachtree can use. (p. 611)
Internet	The worldwide electronic communication network that allows for the sharing of information. To read about the differences between the Internet and the World Wide Web, go to www.webopedia.com/DidYouKnow/Internet/2002/Web_vs_Internet.asp. (p. 41)
invoice	A bill that shows an itemized list of goods shipped or services rendered, stating quantities, prices, fees, and shipping charges. (p. 440)
landscape orientation	The direction of the page in which the long edge of the paper runs horizontally. (p. 592)
liabilities	The business' debts. (p. 704)
LIFO	Last in, first out method of inventory assumes that the last goods received are sold first. (p. 489)
line items	These rows appear on many of Peachtree's windows. On color monitors, a magenta line is placed around the row you select. (p. 10)
line objects	You can draw lines or rectangles on your forms. (p. 601)
lookup field	Lookup fields are indicated by an icon with a magnifying glass. When you are in the text field portion of the lookup field, the cursor changes to an I-bar with a plus sign and question mark, < I +? > In a lookup field, you can either select from a list of records, such as vendors, customers, accounts, etc. or you can type a new record. (p. 11)
Medicare	A portion of FICA taxes (also called social security taxes) deducted from wages of qualified workers. Retirees receive medical benefits called Medicare after reaching age 65. (p. 516)
merchandise inventory	Includes all goods owned by the business and held for resale. (p. 489)
merchandising business	Retail stores that resell goods and/or perform services. (p. 489)
modem	The word modem is an abbreviation of Modulator/Demodulator. A modem is a device that translates the digital signals from your computer into analog signals that can travel over telephone lines. There are also DSL (digital subscriber lines), wireless, and cable modems, as well as T-1 lines for faster connections. (p. 41)
mouse	A pointing device that is used to interact with images on the screen. The left mouse button is used in PCA. (p. 1)
navigation bar	The navigation bar appears on the left side of the Peachtree main window and offers access to seven navigation centers: Business Status; Customers & Sales; Vendors & Purchases; Inventory & Services; Employees & Payroll; Banking; and Company. Also called a dashboard. (p. 17)
navigation centers	Each navigation bar selection takes you to the navigation center pages, which provide information and access to the Peachtree program. (p. 17)
net income	A net income results when revenues exceed expenses. (p. 209)
net loss	A net loss results when expenses exceed revenues. (p. 209)
option buttons	Circles in dialog boxes which toggle options on and off. Options signal an either or choice. For example, there are two option buttons on the Maintain Employees dialog box: Salary or Hourly pay. You select one or the other; you cannot select both. (p. 36)
payroll journal	In Peachtree, the Payroll Entry window is also the payroll journal. The Payroll Entry window posts to the General Ledger and to the Employee file. (p. 532)
PCA	Abbreviation for Peachtree Complete Accounting. (p. 1)
perpetual inventory	In a perpetual inventory system, an up-to-date record of inventory is maintained and the inventory account is revised each time a purchase or sale is made. (p. 151)
picture objects	Picture objects are any bitmapped graphic image created or captured in a program that supports OLE (object linked and embedded) native format. (p. 601)
portrait orientation	The direction of the page in which the long edge of the paper runs vertically. (p. 592)
posting	The process of transferring information from the journal to the ledger. (p. 247)
purchase discount	Cash discounts from vendors in return for early payment of an invoice, for example, 2% 10 days, net 30. (p. 49)
purchase journal	In the Purchase Journal, or Purchases/Receive Inventory window, you can enter invoices received from vendors or enter and print purchase orders. In manual accounting, a Purchase Journal is a multi-columnar journal in which all purchases on account are recorded. (p. 400)
purchase orders	The business form used by the purchasing department to place an order with a vendor. Purchase Orders, abbreviated P.O., authorize the vendor to ship the ordered merchandise at the stated price and terms. (p. 54)
queue	A list of files waiting to be printed (p. 33)
radio button	Commands that can be turned on from a list of choices in a dialog box or window. (p. 36)
real-time posting	Journal transactions are posted to the General Ledger at the time they are entered and saved. Peachtree Software recommends real-time posting for networked computers. (p. 106).
records	A group of fields that contain information on one subject, for example, the general journal, purchase journal, cash disbursements journal, sales journal, or cash receipts journal. (p. 612)
rectangle objects	You can draw lines or rectangles on your forms. Also called line objects. (p. 601)
restore	Previously backed up data can be restored or retrieved with the File, Restore selection. (p. 18)
sales discount	A cash discount that is offered to customers for early payment of their sales invoices. For example, Bellwether Garden Supply offers Tidmore Real Estate a 5% discount for payments received within 15 days of the invoice date. In PCA the discount period (number of days) and discount percentage can be changed. (p. 97)
sales journal	The Sales/Invoicing task in Peachtree is the sales journal. (p. 451)
service invoice	An alternative to the standard invoice. Use it when you want to create an invoice without inventory items. (p. 459)
shortcut keys	Enable you to perform some operations by pressing two or more keys at the same time. For example <Alt> + <F4> closes an application window. (p. 4)
source documents	Written evidence of a business transaction. Examples of source documents are sales invoices, purchase invoices, and a check register. (p. 250)
statement of financial position	Another name for a balance sheet. (See balance sheet.) (p. 265).
tabs	There are various tabs shown on Peachtree's windows. For example, in the Maintain Customers/Prospects window there are tabs for General, Sales Defaults, Payment Defaults, Custom Fields, and History. You can select one of these tabs to open a window so that more information will display about a customer. (p. 11)
taskbar	In Windows XP, the Start button and taskbar are located at the bottom of your screen. (p. 8)
template	A document pattern or part of a document that you keep stored so that it can be used again. (p. 641)
text objects	Letters or characters you type on to a form. (p. 601)
time tickets	Used to record time-based activities such as research or consultations. A record of activities of either a vendor or an employee. (p. 230)
title bar	The top line of every window is a bar which contains the name of the application or menu in that window. (p. 7)
trackball	A device that works like a built-in mouse. (p. 1)
unearned revenue	A liability account used to report advance collections from customers. (p. 337)
vendor credit memos	Returns to vendors. (p. 75)
vendor ledger	Shows the account activity for each vendor. (p. 401)
vendors	In PCA, this term refers to businesses that offer credit for merchandise or assets purchased or expenses incurred. (p. 378)
W-2 forms	An annual report of an employee's wages subject to FICA and federal income tax that shows the amounts of these taxes that were withheld. (p. 516)
weighted-average method	This method of inventory pricing divides the cost of the inventory purchased by the quantity of merchandise purchased. This unit cost is multiplied by the ending inventory. (p. 405)
WIMP	The acronym,WIMP, stands for Windows, Icons, Menus, and Pull-downs. This acronym is used to describe the way personal computer software looks and works. (p. 1)
windows	A visual (instead of typographic) format for computer operations. (p. 1)
withholding allowances	Exemptions claimed by the employee. The number of exemptions or withholding allowances often includes one for the employee, one for the employee's spouse, and one for each dependent. (p. 516)
World Wide Web (WWW)	A way of accessing information over the Internet. To read about the differences between the Internet and the World Wide Web, go online to www.webopedia.com/DidYouKnow/Internet/2002/Web_vs_Internet.asp. (p. 41)