Accounting Terminology in Financial Software

Is there an accounting term or two that has you stumped? While you do not need to know accounting to use personal finance software, understanding some general accounting terminology will help you with using some financial software features.

One good online accounting term dictionary is Microsoft Help and Support for Accounting Terminology, and the following accounting terms commonly found in personal finance software are from the Financial Software Glossary:

• Cash Flow Accounting

• Double Entry Accounting

• Fixed Expense

• Gross Amount

• Net Amount

• Net Worth

• Payee

• Tax Year

• Variable Expense