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Also called a creditor invoice.\"},{\"term\":\"Chart of accounts\",\"definition\":\"The list of ledger accounts used by an organisation.\"},{\"term\":\"Credit note\",\"definition\":\"A document that reduces or reverses an earlier invoice.\"},{\"term\":\"Debit and credit\",\"definition\":\"The two sides of a double-entry bookkeeping entry. Every transaction has equal debits and credits.\"},{\"term\":\"Debtor\",\"definition\":\"Someone who owes you money.\"},{\"term\":\"Demand\",\"definition\":\"An invoice raised on a leaseholder for service charges or ground rent.\"},{\"term\":\"Direct Debit\",\"definition\":\"An automated regular payment under the Bacs scheme. Used in Block Management via GoCardless.\"},{\"term\":\"Double-entry bookkeeping\",\"definition\":\"The accounting method PropLink uses where every transaction posts to at least two accounts, keeping the books balanced.\"},{\"term\":\"Freeholder payout\",\"definition\":\"The periodic transfer of accumulated freeholder income to the freeholder.\"},{\"term\":\"General ledger\",\"definition\":\"The complete record of every accounting transaction in the system.\"},{\"term\":\"Journal entry\",\"definition\":\"A manual posting to the ledger, used for adjustments, corrections and year-end entries.\"},{\"term\":\"Ledger account\",\"definition\":\"One line in the chart of accounts. Each transaction posts to one or more ledger accounts.\"},{\"term\":\"Open Banking\",\"definition\":\"The framework that allows authorised apps to read your bank transactions. PropLink uses Open Banking through GoCardless for automatic bank feeds.\"},{\"term\":\"Overpayment\",\"definition\":\"A receipt for more than the outstanding balance, held as available credit.\"},{\"term\":\"Period\",\"definition\":\"The accounting period the transaction belongs to. Often the month or quarter.\"},{\"term\":\"Period locking\",\"definition\":\"Stopping new entries in a closed accounting period, to protect the integrity of issued accounts.\"},{\"term\":\"Receipt\",\"definition\":\"Money received, typically a payment of an invoice.\"},{\"term\":\"Reconciliation\",\"definition\":\"The process of matching two records that should agree (bank statement vs ledger, control account vs subledger).\"},{\"term\":\"Refund\",\"definition\":\"Money returned to a payer.\"},{\"term\":\"Section 21 (LTA 1985)\",\"definition\":\"The leaseholder's right to a summary of relevant costs.\"},{\"term\":\"Trial balance\",\"definition\":\"The list of every ledger account with its balance, demonstrating that the books balance.\"},{\"term\":\"Voiding (an invoice or receipt)\",\"definition\":\"Reversing it by posting a compensating entry, keeping the original on the audit trail.\"},{\"term\":\"Write-off\",\"definition\":\"Recognising that a debt is uncollectable and posting it to bad debt expense.\"}]",[],{"title":7,"searchDepth":33,"depth":33,"links":34},3,[],"markdown","content:20.reference:accounting-glossary.md","content","20.reference/accounting-glossary.md","20.reference/accounting-glossary","md",{"_path":4,"_dir":5,"_draft":6,"_partial":6,"_locale":7,"title":8,"description":9,"type":5,"status":10,"applies_to":42,"last_reviewed":13,"related":43,"body":44,"_type":35,"_id":36,"_source":37,"_file":38,"_stem":39,"_extension":40},[12],[15],{"type":17,"children":45,"toc":53},[46,50],{"type":20,"tag":21,"props":47,"children":48},{"id":23},[49],{"type":26,"value":8},{"type":20,"tag":28,"props":51,"children":52},{":items":30},[],{"title":7,"searchDepth":33,"depth":33,"links":54},[],1778601708475]