| A Type | Asset master inventory types are used for physical serialized inventory. |
| Accrued Expenses | A conventional accounting term. This is typically a GL account set up to record journal entries to accrue expenses as they are incurred but the vendor voucher has not been received. |
| B Type | Budget master inventory types are used as a placeholder for items and is mostly commonly used in quotes for estimating costs. |
| BI Data | Data that is recorded at regular intervals. Often, a snapshot of project or call information at a particular moment in time. |
| BOM (Bill of Materials) | A Bill of Materials (BOM) can be defined as a list of all the raw materials, sub-assemblies, intermediate assemblies, sub-components, components, parts and the quantities of materials needed in the construction or manufacture of an end item or project. It is also known as a recipe or materials list. It can additionally define the labour and tools required during the construction process. BOM’s are hierarchical in nature with the top-level being the item to be constructed. The next level will contain the main sections that make up this end product, often called sub-assemblies. Lower levels contain the materials needed to make these sub-assemblies and so on until the whole BOM contains all the materials need to build the end product. There are different types of BOMs. The ones used in the construction / systems integration industry will usually be a combination of an Engineering Bill of Materials (EBOM) and a Manufacturing Bill of Materials (MBOM). The EBOM is defined when the end product is designed, usually using technical or engineering drawings. |
| CCO | Customer change order. A kind of order used when a customer requests a change such as a substitution, addition, or removal of one or more material or labor items within an original order that is linked to a project. Such a change can affect the price to the customer and/or the cost. |
| COGS | Cost of goods sold. The accumulated material costs attributable to a project or service call. |
| CSR | Customer service representative. The designated system user that interacts with a customer on a service call. |
| Deferred Revenue | A liability account that reflects revenue received but not yet earned. For deferred service contracts, revenue is recognized in equal amounts on a monthly basis. For projects using a deferred revenue method, revenue is recognized only based off of a percentage of the work complete. |
| Dispatch | Another term for a service call record, or the action of sending a service call to a particular technician. |
| Earned Revenue | Revenue that is earned based on work completed. Revenue can be earned before the provided work is invoiced. |
| Expense | Refers to all journal postings that entered into an EXPENSE type GL account. |
| F Type | Freight master inventory types used for shipping charges and handling charges. |
| GP/Hr | GP per Hour. Total GP (Gross Profit) divided by Total Hours. Displayed on the Quote Header tab. |
| ICO | Internal change order. Used when you (not the customer) requests a change such as a substitution, addition, or removal of one or more items within an original order that is linked to a project. Such a change will not affect the price to the customer but may change the projected cost of the project. |
| Income Statement | Synonymous with Profit and Loss Statement (P&L) |
| Inventory Clearing | An asset account balance that reflects that value of inventory shipped but not yet invoiced. Inventory includes Q and A type items. |
| Inventory Suspense | A liability account that reflects inventory that is received on a purchase order but the corresponding voucher or vendor invoice is not yet posted. Inventory includes Q and A type items. |
| K Type | The kit master inventory type is used for kitted items or packaged goods. |
| L Type | The labor master inventory type is used for labor related work such as training and consulting. |
| M Types | The miscellaneous master inventory type is used for all other non-physical items such as warranty, training courses, and maintenance contracts. |
| Mail Merge | Email broadcasting used for grouping contacts and merging with Outlook. |
| Master | A record used to denote an individual product or service. |
| Master Types | Master item types in the system: A type (Asset or serialized inventory), Q type (Quantitative), M type (Miscellaneous), L type (Labor), F type (Freight), K type (Kit, bundle, or group), S type (Service), and B type (Budget). |
| MRR | Monthly recurring revenue. Monthly billing or revenue for services sold including maintenance contracts, hosting fees, and monitoring. These services are usually contracted for a given term (e.g. 1 year, 2 year, etc.). This is also referred to as RMR or recurring monthly revenue. |
| Percent Complete | The amount of work completed on a project, based off of the percentage of cost incurred versus the projected cost of the project. |
| PO | Purchase order. Purchase orders are created to indicate to a vendor that you want to purchase some of their goods or services. |
| PPV | Purchase price variance. The difference between the landed cost (PO purchase price) of an item and the actual cost incurred from the vendor voucher. The sum of the PPV values from the voucher line item grid. |
| Product | An item that is sold and installed at a customer site. |
| Project Suspense | A liability account that reflects the revenue received but not yet earned on a project. Revenue is recognized regularly based on percent complete. |
| Project WIP | An asset account to reflect the inventory Q and A types that have been shipped to the customer for a project order and COGS have yet to be posted. Journal entries are cleared when project COGS are posted. |
| Q Type | Quantity master inventory types are used for physical quantity tracked items. |
| Revenue Suspense | Un-earned revenue that relates to service contract invoices where an invoice has been issued but the services have not yet been fulfilled. |
| RMA | Return merchandise authorization refers to the return of material by your customer. A vendor RMA is the return of material to the vendor or supplier from where you purchased it. |
| RMR | Recurring monthly revenue. Monthly billing or revenue for services sold including maintenance contracts, hosting fees, and monitoring. These services are usually contracted for a given term (e.g. 1 year, 2 year, etc.). This is also referred to as MRR or monthly recurring revenue. |
| S Types | The service master inventory type is used for sub-contract services. |
| Sales Clearing | A liability account that reflects the inventory invoiced but not yet shipped to customers. Inventory includes Q and A type items. |
| Sales Opportunity | Sales lead that is tracked in various reports. Most commonly, it is used to forecast potential sales. |
| Service Contract | A warranty or maintenance agreement between you and a customer. |
| SOV (Schedule of Values) | Start-to-finish list of work items on a project that represent the entire project from beginning to end and the entire contract price. The work items are broken down into their component parts with their corresponding values. According to the standard AIA documents, “The schedule of values shall allocate the entire contract sum among the various portions of the work.” The schedule of values can have significant influence over the project — tying the “value on paper” of the total work on the project (both the work that’s been completed and the work still to be done) to the actual progress made on the work at the jobsite itself. |
| SOW | Statement of work is a document typically used in project management that describes deliverables, time lines, requirements, and in some cases prices. |
| Tax District | A tax applicable code based on geographical location and requirements. |
| Tech Inventory | Inventory in a technician's truck or truck stock. |
| Time Bill | A record of time logged against a Project Task, Service Call or Sales Opportunity. Time Bills can be posted to the General Ledger to track labor expense. |
| Use Tax | A type of excise tax levied in the United States. Use tax is a tax on the use of goods or certain services in the state when sales tax has not been paid. Goods used in this state are subject to either sales or use tax, but not both. Thus, the use tax compensates when sales tax has not been paid. Purchases made over the Internet and out-of-state are the most common type of transactions subject to a use tax. Another situation where use tax applies is when a business withdraws goods from inventory for its own use. Use tax, in this case, is based on the cost of the item when it was purchased. Common exempt goods are food products, magazines and newspapers published at least quarterly and goods purchased for resale. |
| Voucher | An item recorded for intent to make a payment to vendor or contractor; usually created upon receipt of a vendor invoice. |
| WBS | Work breakdown structure is a hierarchical breakdown of the work required to accomplish the requirements in the statement of work (SOW). |
| WIP | Work in progress, in the context of the Profit tab, refers to material that is shipped to the customer but has not been fully expensed or invoiced to the customer. In the context of BI data, the WIP report is a schedule of projects showing budget and actual financial information. |
| Work Order | A supporting document this is typically linked to service calls. |