MB-920 key terms

The highest-level organizational unit in finance and operations apps; it owns its own financial records, chart of accounts, and tax registration, and is often called a company in everyday use.

The user-facing name for a legal entity in the app interface. Users select a company when signing in, and data such as customers and transactions is scoped to that company.

The structured list of general ledger accounts a legal entity uses to record transactions. It defines account numbers, names, types, and categories used for financial reporting.

An individual general ledger account within the chart of accounts, such as a cash account or a revenue account. Transactions post to main accounts to build the trial balance.

Attributes attached to ledger accounts, such as department, cost center, or project, that let an organization slice transactions for analysis without creating many separate accounts.

A configuration that groups selected financial dimensions and controls the order and rules in which they appear on account combinations and in reports.

A posting entry form where users record adjustments, accruals, and other transactions directly to ledger accounts before they are posted and reflected in balances.

The act of committing a document such as an invoice, journal, or payment to the ledger so it affects account balances and appears in financial reports.

The accounting record generated when a transaction posts. It groups the debit and credit ledger entries created by a single document and serves as an audit trail.

A report listing all main accounts and their debit or credit balances for a period, used to verify that total debits equal total credits before producing statements.

The definition of an organization's fiscal year, including the number of periods, their start and end dates, and how periods map to calendar months for closing and reporting.

The twelve-month (or other length) accounting year used for reporting and closing. It may differ from the calendar year and is split into periods for management and audit.

The process of finalizing a fiscal period by posting all entries, reconciling balances, and locking the period so no further transactions can be recorded in it.

The routine that transfers ending balances of profit and loss accounts into retained earnings and opens balances for the new fiscal year.

The subledger and processes for money an organization owes to vendors, covering vendor invoices, payment proposals, and settlement of outstanding liabilities.

The subledger and processes for money customers owe the organization, covering customer invoices, collections, credit management, and settlement of open balances.

A party from whom goods or services are purchased. Vendor records hold payment terms, addresses, tax details, and balances used in accounts payable processing.

A party that buys goods or services. Customer records store credit limits, payment terms, addresses, and balances used in accounts receivable and sales processes.

A batch process that selects open vendor invoices due for payment based on criteria such as due date and payment method, producing payments that can be reviewed and then generated.

Rules defining when an invoice is due and whether a discount applies for early payment, such as net 30 or a percentage discount within a set number of days.

A sequenced notice sent to a customer with an overdue balance, escalating in tone and fees according to a configured collection letter setup.

The maximum outstanding balance allowed for a customer. The system can check it when orders or invoices are entered and hold or block transactions that exceed it.

The process of planning expected revenue and spending, entering budget amounts, and comparing actual transactions against them to control expenditure.

A configuration that checks whether sufficient budget remains before a transaction is posted or an order is confirmed, and can block or warn when funds are insufficient.

A long-lived item such as equipment or a building that is capitalized, depreciated over its useful life, and tracked separately from day-to-day expenses.

The systematic allocation of a fixed asset's cost across its useful life, calculated using methods such as straight-line or declining balance and posted to the ledger.

A record attached to a fixed asset that holds its acquisition cost, depreciation method, useful life, and accumulated depreciation for a given accounting purpose.

The generation of statements such as balance sheets and income statements from ledger data, often using report definitions with row, column, and tree components.

The area that defines products, product variants, categories, and release policies before items can be used in sales, purchasing, and inventory transactions.

A product that has been made available to a specific legal entity, carrying item-specific settings such as units, storage dimensions, and default order settings.

A specific version of a product distinguished by dimensions such as size, color, or style, each with its own item number and inventory identity.

Attributes such as site, warehouse, location, and batch that identify where and in what condition stock is held, and that drive inventory transactions and reservations.

The quantity of an item currently available in a given location and dimension combination, viewable by site, warehouse, and status.

A physical storage facility defined in the system. It groups locations, work policies, and inventory, and can be enabled for advanced warehouse management processes.

Advanced capabilities for receiving, put-away, picking, and shipping using locations, work templates, mobile device scanning, and wave planning.

A grouping of warehouse work lines created together so that picking and shipping tasks can be released and executed in a coordinated batch.

Configuration that defines the sequence of warehouse work steps, such as pick and put, generated automatically when a source document triggers warehouse activity.

A document sent to a vendor requesting goods or services at agreed prices and terms; it drives receiving, vendor invoicing, and accounts payable in the procure-to-pay flow.

A document recording a customer's request to buy items, capturing quantities, prices, and delivery details, and driving reservation, picking, and invoicing.

The end-to-end business process covering requisition, purchase order, goods receipt, vendor invoice, and payment, spanning supply chain and finance modules.

The end-to-end process from sales order entry through picking, shipment, customer invoicing, and receipt of payment, linking supply chain and receivables activities.

The engine that calculates net requirements from demand and supply, generating planned purchase, production, and transfer orders to keep inventory aligned with demand.

A suggested supply document produced by master planning, which can be firmed into a real purchase order, production order, or transfer order.

A list of the components and quantities required to manufacture a finished item, used for costing, production, and material planning.

A document authorizing the manufacture of a quantity of an item, tracking material consumption, routing operations, and completion of finished goods.

A single recorded movement or adjustment of stock, such as a receipt, issue, or transfer, which updates on-hand quantities and posts to the ledger when relevant.

A Microsoft cloud portal used to manage implementation projects, environments, business process models, and deployment activities for finance and operations apps.

A deployed instance of finance and operations apps, such as a development, sandbox, or production environment, each with its own data and configuration.

The framework for importing, exporting, and migrating data between finance and operations apps and external sources using data entities and recurring integration jobs.

A reusable abstraction over one or more tables that exposes data in a simplified shape for import, export, integration, and electronic reporting.

A bundle of duties and privileges assigned to users that determines which menus, forms, and data they can access within the application.

A security grouping of related privileges that represents a business task, such as maintaining vendor records, and is assigned to roles rather than directly to users.

A configured approval process that routes documents such as purchase orders or journals through defined steps, approvers, and conditions before they are finalized.

A task scheduled to run on the server without user interaction, such as posting, master planning, or report generation, monitored through the batch jobs form.

A configurable tool for building and generating required business documents and statutory reports in specific formats, such as invoices or tax declarations, without custom code.

The connection of finance and operations apps with other systems through services, data entities, or message-based channels to exchange business data automatically.

A role-based landing page that aggregates key metrics, charts, and task links so users can monitor their area of responsibility at a glance.

A feature for tracking customer or vendor issues through a structured lifecycle of activities, knowledge articles, and resolution steps.