Accounting Database Software Key Terms

Use accounting database software key terms to locate the optimal tool for your purposes

Having a sound knowledge base of accounting database software key terms demonstrates keen business acumen. It demonstrates to others that you make it a priority to keep up with current technology and the accompanying vocabulary. Understanding accounting database software key terms gives you an edge over competitors as you share information with clients.

Personal computer (PC)

Although personal computer (PC) refers to all computers one can use on an individual basis, over time its definition changed to refer to a computer that is not a Macintosh. Generally, a PC is a Windows based computer.

Mac

Businesses sometimes purchase software for their Mac computers. The term Mac is short for Macintosh, a computer designed by Apple Inc.

Account

An account is a formal record representing resources, transactions and financial information including claims and resources. An accounting database software program keeps track of various accounts.

Income tax basis

The income tax basis is a record of the amount paid for a particular asset, including improvements on the assets minus asset deductions for tax purposes.
Ohio State University Extension offers an in-depth explanation of tax basis. It offers charts of detailed anecdotal examples for further understanding.

Net assets

Net assets recorded in accounting database software include a total value of receivables, cash, securities and other assets over company liabilities.
Investor Glossary offers a detailed description of net assets.

Organization expenditures

This term refers to any costs used in business while setting up a trade or other profit activity before active business actually begins. Accounting database software keeps track of these expenses.

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