Skip to main content Accounting glossary
FreeAgent's Chief Accountant Emily Coltman provides you with an easy A-Z of accounting terms.
A
- AISP
- Accounting software
- Accounting system
- Accounting year
- Accounts payable
- Accounts receivable
- Accrual
- Accruals basis accounting
- Aged creditors report
- Aged debtors report
- Amortisation
- Annual Investment Allowance
- Annual return
- Articles of association
- Asset accounts
- Assets
- Associated company
- Audit trail
- Auto-enrolment
- Autumn Budget
B
C
- CEST
- CMA9
- CT600
- Capital Gains Tax
- Capital accounts
- Capital allowances
- Capital asset
- Cash accounting for VAT
- Cash basis accounting
- Cashflow
- Cashflow forecast
- Chart of accounts
- Close company
- Closing balance
- Cloud accounting
- Companies House
- Company Tax Return
- Company director
- Company registration number
- Company start date
- Competition and Markets Authority
- Confirmation statement
- Construction Industry Scheme (CIS)
- Consumable item
- Contra account
- Corporation Tax
- Costs
- Costs of sales
- Credit
- Credit control
- Credit note
- Credit score
- Creditor
- Crowdfunding
- Current asset
- Current liability
- Current ratio
- Customer concentration
D
E
- EC Goods
- EC Sales List (ESL)
- EC Services
- Earlier Year Update
- Emergency tax code
- Employee
- Employers' liability insurance
- Employment Allowance
- Employment and Support Allowance
- End of period statement
- Energy Bill Relief Scheme
- Energy Bills Discount Scheme
- Entrepreneurs' Relief
- Equity
- Equity crowdfunding
- Estimate
- Expense
- Expense accounts
G
J
K
M
P
- P11D
- P45
- P60
- P85
- P87
- PAYE
- PSC
- PSD2
- Partnership
- Payment accounts
- Payments on account
- Payroll
- Personal Allowance
- Petty cash
- Prepayment
- Pro rata
- Professional indemnity insurance
- Profit
- Profit and loss report
- Profit margin
- Proforma invoice
- Property income allowance
- Public liability insurance
- Public offering
- Purchase ledger
S
- SIC code
- SME
- Sales ledger
- Scottish rate of Income Tax
- Self Assessment
- Self-certified mortgage
- Shareholder
- Small business rate relief
- Sole trader
- Solvency ratio
- Spreadsheet Phil
- Spring Statement
- Startup
- State Pension
- Statement of financial position
- Statutory Maternity Pay
- Statutory Sick Pay
- Stock
- Strong Customer Authentication
- Sundries
- Suspense account