MB-310 key terms

The organized list of general ledger accounts a legal entity uses to record transactions, made up of main accounts and made usable through account structures and financial dimensions.

A single general ledger account in the chart of accounts that stores one type of balance, such as revenue, expense, asset, or liability, and whose account type controls how it posts.

A data element such as department, cost center, or project attached to ledger entries to add detail for reporting and analysis without requiring a separate main account for each combination.

A rule that defines which main accounts and financial dimension values may be combined for entry, and which of those dimensions are required, validating account combinations during posting.

The core accounting area of a legal entity that holds the chart of accounts, fiscal calendars, accounting currency, and posting setup, and where all ledger transactions and balances are stored.

A defined set of periods and years, with start and end dates and period lengths, that determines the company's financial year and controls when transactions can post.

A working document where accounting entries are entered, validated, and posted to the ledger, such as daily general journals, vendor payment journals, and invoice journals.

The accounting document produced when a journal or source document posts; it groups the resulting ledger distribution lines under one voucher number and one posting date.

A category assigned to ledger entries, such as current, operations, or tax, that keeps different kinds of transactions separate for reporting and can be closed independently.

A setup that controls which ledger summary accounts customer transactions post to, and which accounts settlement, interest, and collection letters use, grouped by customer group or account.

Rules that determine an invoice's due date and any cash discount date, set as a number of days or as day-of-month terms, and applied by default from the customer or vendor record.

The maximum outstanding balance allowed for a customer; when credit management is turned on, the system checks open balances and insurance against this limit during order entry.

A status applied to a customer, sales order, or order line that blocks further processing, such as confirmation or picking, until the credit issue is reviewed and released.

A named set of buckets, such as 30, 60, and 90 days, used to group customer or vendor balances by how long they have been outstanding for aging reports and collections.

A sequenced notice sent to a customer with overdue balances, generated from letter codes that define text, fees, and posting accounts, and tracked against the customer's open transactions.

The process of linking an open customer transaction to a payment, credit note, or another transaction so its balance closes, posting any cash discount, write-off, or exchange difference.

A setup that defines how a subscription or recurring invoice is billed over time, including start and end dates, frequency, and the intervals that generate invoice lines.

A feature that spreads invoice revenue across several accounting periods using a schedule, applied when goods or services are delivered after the invoice date.

A setup that determines which summary accounts vendor transactions post to, and which accounts are used for settlement and prepayments, grouped by vendor group or vendor account.

An invoice record held before posting, containing lines, charges, and match results, that must pass matching and workflow approval before it becomes an accounting transaction.

Validation that compares a vendor invoice's quantities and prices with the purchase order and product receipt, using tolerances that decide whether the invoice may be posted.

A journal used to record vendor invoices quickly without immediate posting; registered invoices stay pending until an approval journal posts them to the ledger.

A batch process that selects open vendor invoices due for payment using criteria such as due date, cash discount, and vendor group, and creates payment journal lines.

A setup that defines how a payment is issued or received, such as check, electronic transfer, or direct debit, including the accounts and file formats used.

A document where an employee lists business expenses with dates, categories, amounts, and receipts, then submits it through workflow for approval and reimbursement.

Configured rules in expense management that set limits, allowed categories, receipt requirements, and violation actions, evaluated when expenses are entered and approved.

A fixed daily allowance for meals and incidentals paid to a traveler, calculated from per diem locations and tiers by date rather than from actual receipts.

A container that groups budget register entries and their amounts, letting an organization keep separate budgets, such as original, revised, or forecast, for the same accounts.

A document that records a budget change, such as an original budget, transfer, or revision, and updates budget balances by budget model and dimension when posted.

A check that compares available budget with planned and actual spending when documents are entered or posted, then blocks or warns when funds are insufficient.

Settings that define which budget models, dimensions, time spans, and source documents budget checking applies to, and whether over-budget spending is blocked, warned, or allowed.

A working document used to prepare and compare proposed budgets across scenarios, with worksheet lines and justification, before approved amounts are posted as budget register entries.

A reserved budget amount created when a purchase requisition or purchase order is confirmed, reducing available budget before the actual expenditure is recorded in the ledger.

A classification assigned to fixed assets that supplies default books, depreciation settings, and posting accounts for assets that share similar characteristics.

A record attached to an asset that holds its value, depreciation settings, and posting profile for one purpose, such as accounting, tax, or a derived view.

A setup that defines how an asset's value decreases over time, including the depreciation method, the convention, and how often depreciation may be calculated and posted.

A rule that determines how much depreciation is taken in the first and last periods of an asset's life, such as full month, half-year, or mid-quarter.

The estimated amount an asset is expected to be worth at the end of its service life, subtracted from acquisition cost when depreciation is calculated.

A generated list of depreciation transactions for selected assets and books over a period, reviewed before posting to create the depreciation journal entries.

The transaction that removes an asset from the books when it is sold or scrapped, calculating gain or loss from the difference between net book value and proceeds.