This guide explains the Accounting module's naming conventions. It is intended for general users.
To understand the accounting naming conventions used in aACE, you must first be aware of general accounting terminology.
Keeping accurate records of transactions uses various "journals". Historically these were physical journals focused on various transactions. These include:
- Sales journal — Credit sales to customers (Returns and cash sales are typically not added into a sales journal.)
- Purchases journal — Credit purchases of product
- Cash receipts journal — Sales that increase cash
- Cash disbursements journal — Sales that decrease cash
- General journal — Adjustments to entries
Today accounting software is a digitized version of such journals. Each journal's function remains the same. So aACE generally adheres to the traditional accounting naming conventions. However, the redundant 'journal' portion is omitted, as well as the implied 'cash' portion of the names:
| Traditional Accounting Name | aACE Equivalent |
|---|---|
| Sales journal | Invoices module* |
| Purchase journal | Purchases module |
| Cash receipts journal | Receipts module |
| Cash disbursements journal | Disbursements module |
| General journal | General Journal module |
* aACE refers to the sales journal as the Invoices module because the term 'sale' is already used in many contexts and because invoices are the source of data for this journal.
Read other descriptions of the functions and uses of accounting journals.