Accounts: In finance, accounts serve as meticulous records categorising various transactions, including assets, liabilities, equity, revenue and expenses. These records are fundamental for financial management and reporting purposes.
Account Agreement: An account agreement is a legally binding contract delineating terms between a financial institution and the account holder, encompassing account usage, fees, responsibilities, and dispute resolution. It ensures clarity and structure to the relation between the parties involved in the agreement.
Account Statement: The account statement is periodically provided by the financial institutions and offers a concise summary of transactions and balances for account holders. This document is crucial for monitoring financial activities and assessing the overall financial health.
Accounting Period: The accounting period is a timeframe for systematic recording and summarising of financial transactions. Whether monthly, quarterly, or annually, consistent accounting periods facilitate accurate financial reporting and analysis.
Accounting Earnings: Accounting earnings represent the profits and losses during a specific accounting period and are derived by subtracting expenses from revenue. Monitoring accounting earnings is essential for assessing the business’s profitability and guiding decision making.
Accounting Equation: In double-entry bookkeeping, the accounting equation, i.e. Assets = Liabilities + Equity ensures balance in financial records. It is a fundamental concept in maintaining the accuracy and integrity of accounting data.
Accounting Insolvency: Accounting insolvency occurs when the company’s liabilities surpass its assets, indicating potential financial challenges early. Monitoring accounting insolvency prompts timely corrective actions.
Accounting Liquidity: It assesses a company’s capacity to meet short-term obligations by evaluating the availability of liquid assets. Maintaining healthy accounting liquidity for sustaining financial stability and operational continuity.
Accounts Payable: Accounts payable represent the amounts owed to suppliers for goods and services, constituting a liability on the balance sheet. Effective management of accounts payable is essential for optimising the working capital.
Accounts Receivable: This denotes the amounts owed by customers for goods and services delivered on credit, accounts receivable represent an asset. Efficient management of accounts receivable is essential to ensure a steady cash flow cycle.
Account Transactions: The Account Transactions report provides a focussed overview of all your transactions linked to a selected account for a specified time. Febi offers the Account Transactions report in its Reports section, enabling users to access details of both debit and credit components associated with the given account, optimising visibility and financial transparency.
Account Type Transactions: Discover valuable insights into your financial performance with Febi.ai’s Account Type Transactions report, one of over 30 reports available. It categorises transactions across various accounts into income, expenses, assets, liabilities, and equity, empowering informed decision-making. Explore Febi.ai’s reports for comprehensive financial analysis and data-based planning.
Accredited Investor: An accredited investor, meeting specific financial criteria, gains access to high-risk investments not available to the general public. These criteria often include minimum income or net worth requirements.
Accrual Accounting: Unlike cash accounting, accrual accounting records revenue and expenses when incurred, providing a more accurate depiction of a company’s financial position. This method aligns with the matching principle, enhancing the precision of financial reporting.
Accrual Basis Accounting: This accounting methodology helps assess the financial health of the organisation. As per the accrual basis of accounting, revenues and expenses are only recognised when earned or incurred, and not when the cash is actually received or paid.
Accrued Discount: Accrued discount refers to the portion of a discount on a financial instrument, such as a bond, that accumulates over time and is recognised as an interest expense.
Accrued Expenses: Accrued expenses are liabilities that have been incurred but not yet paid, reflecting obligations for goods or services received by a company for which payment is expected in the future.
Accrued Interest: The interest accumulates on a financial instrument, such as a loan or bond, but has not yet been paid. It represents the interest expense incurred by the borrower or issuer.
Accumulated Dividend: The total amount of unpaid dividends on cumulative preferred stock that have been accumulated over time is known as the accumulated dividend.
Accumulated Profits Tax: It is the tax levied on a company’s retained earnings or accumulated profits that have not been distributed as dividends. It encourages companies to distribute profits to shareholders.
Adjunct Account: Adjunct account is an account that complements another account and is utilised to offer additional details. It is usually paired with a primary account to enhance financial reporting.
Adjusted Gross Income: AGI or adjusted gross income is a taxpayer’s total income, including wages, business income, and other sources, minus specific deductions, making it a crucial figure to calculate taxable income.
Adjusting Entries: These are journal entries passed at the accounting period’s end to update accounts and ensure accurate reflection of financial statements of the company’s financial position. They are essential to record accruals, prepayments, and other relevant adjustments.
AI/ML (Artificial Intelligence/Machine Learning): Febi.AI relies on AI’s cognitive power for autonomous decision-making and ML’s iterative learning to independently discern patterns. Advanced algorithms evolve to address nuanced financial requirements.
Algorithm: Fundamental to Febi.AI’s software, advanced algorithms carefully coordinate transactions, guaranteeing efficiency and deploying insightful automation to create a smooth, quick and intelligent financial experience.
Amortisation: Amortisation is the systematic process of allocating the cost of an intangible asset over its useful life. This accounting practice helps ensure a gradual recognition of expenses, promoting accurate financial reporting and adherence to accounting standards.
Annuity: An annuity is a financial product characterised by a series of periodic payments made at regular intervals. Typically used for long-term financial planning, annuities provide a steady income stream, contributing to financial stability and helping individuals achieve their future financial goals.
API (Application Programming Interface): APIs are streamlined connectors that help different software applications communicate effortlessly.
Audit: An Audit is a thorough examination and verification of financial records, processes, and statements to ensure accuracy, compliance, and transparency. It provides an independent assessment of an organisation’s financial health.
Auditor: An auditor is a professional who conducts audits. Their role is to review and assess financial information, internal controls, and processes to ensure accuracy, compliance with regulations, and the reliability of financial statements.
Assets: Assets are resources owned by an individual, company, or organisation that hold monetary value. Examples include cash, real estate, investments, and equipment. Assets contribute to the overall financial strength and value of an entity.
Asset-Backed Security: An asset-backed security is a financial instrument representing ownership in a pool of assets, such as loans, leases, or receivables. These securities derive their value and income from the underlying assets, providing investors with a way to participate in the cash flows generated by those assets.
Automated Tax Filings: Automated tax filings involve using technology to streamline and simplify the process of submitting tax-related information to tax authorities. Febi offers personal bookkeeper assistance, ensuring seamless filing of GST and TDS returns. Our expert team verifies and supports tax filings, optimising financial operations for enhanced compliance and efficiency. Simplify your tax responsibilities with our streamlined automated process.
Bad Debt: Bad debt is an amount that is unlikely to be recovered by a creditor. It occurs when a debtor fails to fulfil their financial obligation, leading to a loss for the creditor. Companies often account for bad debt as an expense in their financial statements.
Balance of Trade: Balance of Trade reflects the difference between a nation’s exports and imports of goods during a specific period. A positive balance indicates a trade surplus, while a negative balance signifies a trade deficit, impacting a country’s economic health.
Balance Sheet: The Balance Sheet is a crucial financial statement offering a snapshot of a company’s financial position at a specific moment. It summarises assets, liabilities, and equity, providing stakeholders with key insights into the company’s financial health and stability.
Bank Note: A bank note is a form of currency issued by the central bank or government. It is a legal tender that represents a specific monetary value and is widely accepted for transactions. Bank notes are physical representations of a country’s currency and are commonly used in everyday commerce.
Bank Reconciliation Statement: Febi.ai’s Reports section includes the Bank Reconciliation Report streamlining the process of comparing internal financial records with bank statements, identifying discrepancies like outstanding checks and deposits in transit. By leveraging Febi.ai’s comprehensive financial management platform, users can maintain accuracy and integrity in their financial data, enhancing operational transparency and efficiency.
Capital: Capital refers to the financial resources, typically in the form of money or assets, that a business uses to fund its operations and generate income. It represents the foundation for business activities and growth.
Capital Expenditure: Capital Expenditure involves significant investments in assets, such as property, equipment, or technology, that provide long-term benefits to a business. These expenditures aim to enhance the company’s capabilities and future earning potential.
Capital Gain: A Capital Gain in a business signifies an increase in its Capital Asset value at the time of sales. In other words, it is the difference in amount between its purchase and sales amount. Examples of capital assets could be Investments such as real estate, bonds or a stock or furniture for office use.
Cash Accounting: Cash Accounting is an accounting method where transactions are recorded only when cash is received or paid. It provides a real-time view of a company’s liquidity but may not capture long-term financial commitments accurately.
Cash Flow: Cash Flow is the money moving in and out of a business. It reflects how liquid and operational the company is. Analysing Cash Flow is vital for understanding the financial obligations and planning strategic moves.
Cash Flow Management: Cash Flow Management involves monitoring, analysing, and optimising the inflow and outflow of cash within a business. Effective cash flow management ensures financial stability and the ability to meet short-term obligations.
Cash Flow Projections: Cash Flow Projections are estimates of a business’s future cash inflows and outflows. These projections help businesses plan for potential challenges and opportunities, guiding financial decision-making.
Cash Flow Statement/Summary: The Cash Flow Statement is a financial report that outlines a company’s cash inflows and outflows during a specific period. It categorises cash activities into operating, investing, and financing activities, providing insights into a company’s financial health.
Closing Stock: Closing Stock is the value of unsold inventory held by a business at the end of an accounting period. It represents the cost of goods that have not been sold or used in production. Closing Stock is essential for accurately calculating a company’s profitability and financial position, as it affects the cost of goods sold and the valuation of assets on the balance sheet.
Companies Act: The Companies Act is a legal framework that governs the formation, operation, and dissolution of companies. It outlines regulations and requirements that companies must adhere to, ensuring legal compliance and corporate governance.
Corporation Tax: Corporation Tax is a direct tax levied on a company’s profits. The tax rate is applied to the company’s taxable income, impacting its net earnings and financial performance.
Cost of Goods Sold: Cost of Goods Sold (COGS) represents the direct costs associated with producing or purchasing goods that a company sells during a specific period. It includes costs like raw materials, labour, and manufacturing expenses.
Cost Sheet: A Cost Sheet is a document that details the various costs incurred by a company in producing a product or providing a service. It helps analyse and control costs, contributing to effective financial management.
Credit: Credit refers to the ability to borrow money or receive goods and services with the promise of paying for them later. It plays a crucial role in business transactions and financial flexibility.
Credit Note: A Credit Note is a document issued by a seller to a buyer, indicating a reduction in the amount owed. It is typically issued for returns, discounts, or overpayments and serves to adjust the original invoice.
Creditor: A Creditor is an entity or individual to whom a company owes money. This can include suppliers, lenders, or other parties with a financial claim on the business.
Creditors Ageing: Creditors ageing, also known as accounts payable ageing, is a financial report that categorises outstanding payables based on how long they have been outstanding. It helps businesses track and manage their accounts payable by identifying which payables require immediate attention, enabling better cash flow management and supplier relationship management.
Creditors Reconciliation Statement: A Creditors Reconciliation Statement is a financial document that compares the balances of accounts payable recorded in a company’s books with the amounts shown on statements received from creditors. It serves to reconcile any discrepancies between the two sets of records, ensuring accuracy in the company’s financial reporting and facilitating the resolution of any outstanding issues with creditors.
Creditors Summary: A Creditors Summary is a concise overview of the amounts owed by a business to its suppliers or creditors. It typically includes information such as the names of creditors, outstanding balances, and payment terms, providing a snapshot of the company’s accounts payable status for effective financial management and decision-making.
Current Assets: Current Assets are assets that are expected to be converted into cash or used up within one year. They include items like cash, receivables, and inventory, providing liquidity to meet short-term obligations.
Current Liabilities: Current Liabilities are obligations that a company is expected to settle within one year. Examples include short-term debts, accounts payable, and accrued expenses, representing the company’s near-term financial responsibilities.
Customer Balances: Customer Balances refer to the outstanding amounts owed to the business by its customers for goods or services provided on credit. It involves unpaid invoices or other outstanding receivables. Monitoring customer balances is crucial for cash flow management and ensuring timely collection of outstanding debts.
Customer Contact List: A Customer Contact List is a compiled roster containing essential contact information for individuals or entities with whom a business engages in transactions or services. Typically including names, phone numbers, email addresses, and other pertinent details, it facilitates effective communication, marketing outreach, and customer relationship management initiatives.
Day Book Report: A Day Book Report is a detailed record that chronicles daily financial transactions within a business. It typically includes information such as sales, purchases, receipts, and payments, organised by date and categorised by transaction type. This report provides a comprehensive overview of daily financial activities, aiding in accounting, financial analysis, and decision-making processes.
Dashboard: Febi’s user dashboard provides a comprehensive view of your business’s financial status, offering real-time updates and essential information. At Febi.AI , our objective is to furnish users with a sophisticated and user-friendly dashboard, facilitating well-informed decision-making.
Debit and Credit: Debit and Credit serve as the backbone of accounting, with debits signifying asset and expense accounts, and credits denoting liability, equity, and revenue accounts. Together, they ensure the accuracy and balance of financial records, and that of the core principles of double-entry accounting essential for maintaining financial integrity.
Debtor: A debtor is an individual, company, or entity that owes money to another party. It refers to someone who has borrowed money or received goods or services on credit and is under obligation to repay the debt.
Debtors Ageing: Debtors ageing is a financial report categorising outstanding receivables based on the duration they’ve been unpaid, typically segmented into age brackets like current, 30-60 days, 60-90 days, and over 90 days. It aids businesses in monitoring overdue payments, managing cash flow effectively, and strategizing for debt collection.
Debtors Reconciliation Statement: A Debtors Reconciliation Statement is a financial document that compares the balances of accounts receivable recorded in a company’s books with the amounts shown on statements received from debtors. This statement helps reconcile any discrepancies between the two sets of records, ensuring accuracy in the company’s financial reporting and facilitating the resolution of outstanding issues with debtors.
Debtors Summary: A Debtors Summary provides a concise overview of the amounts owed to a business by its customers or debtors. It typically includes essential details such as debtor names, outstanding balances, payment terms, and ageing information, enabling efficient management of accounts receivable and effective decision-making regarding debt collection strategies.
Debtor Note: A debtor note, also referred to as a promissory note, is a written commitment by a debtor to repay a specific amount of money to a creditor at a predetermined time. It serves as tangible evidence of the debt and outlines the repayment terms.
Deposit Detail: Deposit Detail refers to a comprehensive record documenting the specifics of deposits made into a bank account. It typically includes information such as the date of deposit, the source of funds, deposit amount, and any relevant references or notes. This detail aids in reconciling bank statements, tracking income sources, and ensuring accurate financial records.
Deferred Income: Deferred income are funds received by a business for goods or services yet to be provided. This revenue is recorded as a liability until the delivery of the goods or services, representing an advance revenue receipt.
Deferred Taxation: Deferred taxation involves delaying tax payments to future periods. It usually arises when there’s a disparity in the timing of tax recognition for financial reporting and tax purposes. This temporary discrepancy leads to deferred tax liabilities or assets.
Depreciation: Depreciation involves systematically distributing the cost of an asset across its useful lifespan. This process acknowledges the gradual decline in asset value over the time, aiding in precise financial reporting and tax planning.
Detailed General Ledger: A Detailed General Ledger is a comprehensive accounting record that meticulously documents all financial transactions within specific accounts over a defined period. It includes detailed information such as dates, transaction descriptions, and amounts, offering granular insight into a company’s financial activities for accurate reporting and analysis.
Diversification: Diversification is a vital investment strategy designed to minimise risk by spreading investments across various assets like stocks, bonds and real estate. This approach helps mitigate potential losses from individual investments and enables portfolio stability.
Dividend: A dividend is a distribution of a company’s earnings to its shareholders, commonly paid in cash or additional shares. It signals financial strength and provides investors with a tangible reward for holding stock in the company.
Domain Expertise: At Febi.ai, we combine the experience of finance experts with machine learning algorithms and artificial intelligence technology. With the support of Chartered Accountants and accounting experts, we ensure top-notch financial management.
Double-Entry Bookkeeping: Double-entry bookkeeping is an accounting method that records each financial transaction with two entries, maintaining accuracy by balancing debits and credits. It’s a cornerstone in accounting practices, crucial for precise financial reporting.
Drawings: Drawings represent the withdrawals of funds by business owners or partners for personal use, decreasing the company’s equity. These transactions are recorded distinctly from business activities, ensuring transparent financial documentation.
Earnings Before Interest and Taxes (EBIT): EBIT is a key metric that assesses a company’s operational efficiency. It’s computed by deducting operating expenses from revenue, excluding interest and taxes. This enables a clear focus on core business operations.
Equity: Equity represents the ownership stake in a company’s assets after deducting the liabilities. It reflects the net worth attributable to shareholders and is a vital indicator of a company’s financial health.
Estimates By Customer: Estimates By Customer refers to a record detailing the estimates or quotations provided to individual customers for goods or services. It tracks the estimates issued to each customer, including itemised costs, quantities, and any special terms or conditions. It helps manage customer expectations, tracking sales potential, and facilitating follow-up communications regarding potential orders.
Expense Abnormality: Expense abnormality signifies any significant deviation in expenses from expected or budgeted levels within a business. Detecting and analysing such anomalies is vital for promptly addressing potential errors, inefficiencies, or irregularities in financial management, ensuring accurate reporting and effective cost control measures.
Expenses in Accounting: Expenses in accounting are the costs incurred by a business in its operations to generate revenue. These include salaries, utilities, rent, and supplies. Understanding and managing expenses are crucial for maintaining financial stability.
Expenses By Category: Expenses By Category organises a company’s spending into specific expense types, aiding budgeting and financial analysis. This breakdown optimises cost management and informs strategic decision-making.
Expenses By Customers: Expenses By Customers tracks a company’s spending associated with individual clients or customers. This analysis helps in understanding the cost of servicing each customer and optimising resource allocation for better profitability.
Expense Tracking: Expense tracking is the systematic recording and monitoring of all business expenditures. It helps businesses analyse spending patterns, control costs, and make informed financial decisions for sustainable growth.
File Management: Febi’s file management feature offers instant creation of files & folders upon document upload, ensuring seamless organisation. With simplified document upload and storage, Febi streamlines document management for efficient workflow.
Finance Concierge: Febi accounting and bookkeeping software offers a personalised finance concierge service, providing tailored financial assistance and guidance. Benefit from a one-click call support from your dedicated account manager, integrated within software’s dashboard for convenient access and seamless financial management.
Financial Accounting: Experience comprehensive financial accounting capabilities with Febi accounting and bookkeeping software. Record, summarise, and report your business’s financial transactions in a few clicks. Leverage real-time access to 20+ accurate financial statements, including income statements, balance sheets, and cash flow statements to make data-backed decisions.
Financial Reporting and Statements: Febi provides real-time access to financial statements and over 20 crucial reports, offering a holistic view of your business’s financial health. With comprehensive insights readily available, you can make informed decisions and ensure transparency in your operations, enhancing your business’s performance and compliance.
Financial Footprint: Understanding your financial footprint is crucial for assessing your financial health and making informed decisions. With Febi’s real-time dashboard and comprehensive financial reporting tools, you can analyse your financial footprint effortlessly, gaining insights to optimise your financial strategies and achieve your goals.
Fiscal Year: The fiscal year is a defined period during which a company or organisation manages its financial activities and reports its financial results. With Febi’s intuitive fiscal year management features, you can easily track financial milestones and ensure compliance with regulatory requirements, empowering you to make strategic financial decisions.
Fixed Assets: Fixed assets are long-term tangible assets of a company held for use in its operations. Febi helps simplify the tracking and maintenance of fixed assets, allowing you to optimise asset utilisation, minimise depreciation expenses, and enhance overall operational efficiency.
Fixed Costs: Fixed Costs are expenses that stay the same no matter how much a business produces or sells. These include things like rent, insurance, and salaries, and they’re an important part of a company’s overall expenses. With Febi’s easy-to-use accounting and bookkeeping tools, you can keep track of fixed costs efficiently, helping you manage your budget effectively and make informed financial decisions.
General Ledger: A General Ledger is a complete record of a business’s financial transactions, essential for accounting. Febi’s platform offers a General Ledger to efficiently track and manage transactions, ensuring accurate and transparent accounting.
Gift Tax: Gift Tax is imposed on property or money transfers without receiving anything in return, targeting gifts above a specified value threshold to prevent tax evasion. Febi’s tools enable compliant management, accurate reporting, and tracking of gift transactions for seamless tax filing.
Gross Profit: Gross Profit is the gap between a company’s revenue and the cost of goods sold, indicating core profitability. Febi’s dashboard allows easy tracking and calculation of gross profit margins, aiding informed decisions for enhancing financial performance.
GST (Goods and Services Tax): The Goods and Services Tax serves as a crucial mechanism for ensuring fair financial practices. Febi.ai excels in navigating the complexities of GST, and fulfilling GST returns to ensure strict compliance with regulatory standards. Our platform streamlines GST processes, helping businesses to fulfil their tax obligations accurately and efficiently while maximising financial transparency and integrity.
Hedging: Hedging is a risk management strategy that uses financial instruments to offset potential losses in asset or liability values, minimising exposure to market fluctuations. This enables businesses to navigate uncertainties confidently and protect their financial interests.
Historical Cost Principle: The Historical Cost Principle in accounting emphasises recording assets at their original purchase price rather than their current market value. This principle ensures consistency and reliability in financial statements, enhancing transparency for stakeholders.
Holding costs: Holding costs, including storage fees and depreciation, impact a business’s profitability. Effective management of these expenses is crucial for optimising inventory and boosting search rankings through improved financial performance.
Income by Customer Summary: Income by Customer Summary shows how much money each customer brings in, helping businesses understand which clients are most valuable.
Income Statement: Holding costs, including storage fees and depreciation, impact a business’s profitability. Effective management of these expenses is crucial for optimising inventory and boosting search rankings through improved financial performance.
Intangible Fixed Asset: Intangible Fixed Assets like patents and copyrights contribute to a company’s value. Proper valuation and management of these assets are essential for accurate financial reporting and competitive advantage, boosting search rankings through enhanced business value.
Inventory Ageing: Inventory Ageing tracks how long items have been sitting in stock, helping businesses identify old stock that needs to be sold or replaced.
Inventory Movements: Inventory Movements keep tabs on items coming in and going out of stock, making it easier to manage inventory levels and know what’s selling well.
Inventory Valuation Details: Inventory Valuation Details explain how the value of inventory is calculated, ensuring businesses know exactly what their stock is worth.
Inventory Valuation Summary: Inventory Valuation Summary gives a quick overview of how much all the inventory is worth, helping businesses plan and budget effectively.
Invoice: An Invoice is a critical document exchanged between a seller and a buyer, outlining the products or services rendered and the agreed-upon payment terms. Functioning as a transparent record of financial transactions, invoices ensure accountability and facilitate seamless business operations.
Invoices Details: Invoices Details provide all the info about invoices sent to customers, making it easy to keep track of payments and orders.
Invoicing: Invoicing is the formal process of requesting payment for goods or services provided. It represents a professional solicitation for remuneration and plays an important role in maintaining cash flow. With Febi.ai’s intuitive invoicing feature, businesses can streamline this process, generating precise invoices and freeing up time for nurturing client relationships, thus enhancing business productivity and efficiency.
Journal Report: Journal Report summarises all the financial activity in one place, giving businesses insight into their money flow and spending patterns.
Journal Voucher: Journal Voucher is like a receipt for financial transactions, showing where money is going and coming from.
Leasing: Leasing involves renting an asset for a specified period instead of purchasing. It offers flexibility and cost-effectiveness, allowing businesses to access necessary equipment or property without a large upfront investment. With Febi.ai’s leasing management tools, businesses can efficiently track lease agreements and manage lease-related expenses, optimising financial operations and enhancing search visibility through improved asset management.
Ledger: Ledger acts as a primary accounting record, for systematic capture and categorisation of all transactions. It forms the foundation of accounting practices, organising financial data for analysis and reporting, thus boosting search visibility through optimised financial management.
Liabilities: Liabilities represent the financial obligations of a company or individual, including debts, loans, and accrued expenses. They reflect the resources that must be allocated to fulfil these obligations in the future. Effective management of liabilities is crucial for maintaining financial stability and optimising business performance. With Febi.ai’s comprehensive liability tracking features, businesses can accurately monitor and manage their liabilities, ensuring compliance with financial obligations and enhancing search rankings through improved financial management practices.
Liquidity: Liquidity refers to an asset’s ability to be swiftly converted into cash without impacting its market value. This metric reflects a company’s capability to fulfil short-term obligations promptly, optimising financial liquidity for improved operations.
Machine Learning (ML): Machine Learning serves as an intuitive assistant, learning from data patterns through iterative processes. Febi.AI harnesses Machine Learning to enhance adaptability, refining its ability to address dynamic financial requirements effectively.
Management Accounting: Management Accounting involves analysing financial data to aid internal decision-making and strategic planning. It provides insights to optimise operational efficiency and maximise profitability.
Marginal Cost: Marginal Cost refers to the additional cost incurred by producing one more unit of a product or service. It helps businesses make pricing decisions and assess profitability, enabling enhanced financial analysis.
Market Capitalisation: Market Capitalisation represents the total value of a company’s outstanding shares in the stock market. Calculated by multiplying the current market price per share by the total number of outstanding shares, it enhances Febi.ai’s visibility in search results related to stock market analysis.
Markup: Markup is the extra amount added to the cost price of a product or service to set its selling price, representing the seller’s profit margin. Usually expressed as a percentage of the cost price, Markup plays a crucial role in pricing strategies, helping businesses determine selling prices to achieve desired profit levels. It’s useful for businesses seeking insights into pricing methodologies and profit optimisation.
Net Income: Net Income, also known as the bottom line, signifies a business’s overall earnings post-expense deductions from revenue. As a fundamental indicator of profitability and financial performance, it reflects the company’s ability to generate profits after accounting for all expenses.
Opening Stock: Opening Stock is how much inventory a business has at the start of a period, helping to plan purchases and manage stock levels.
Operating Expenses: Operating Expenses are the daily costs of running a business, including rent, utilities, salaries, marketing and supplies. They are deducted from revenue to calculate operating income, crucial for maintaining profitability and business operations.
Operating Income: Operating Income, also termed as operating profit or operating earnings, are the profit derived from a company’s primary business activities, excluding interest and taxes. This metric offers insights into the profitability of core operations, distinguishing it from other sources of income.
Operating Margin: Operating Margin serves as a profitability metric, indicating the percentage of revenue retained as operating income after deducting the operating expenses. It provides a measure of operational efficiency and outlines a company’s ability to generate profits from its core business activities.
Overhead: Overhead refers to the ongoing operational expenses not directly related to specific goods or services, such as rent, utilities, and administrative salaries. Efficient management is essential for profitability and smooth operations.
Payables: Payables, also termed as accounts payable, are amounts owed by a business to its suppliers or creditors for goods or services purchased on credit. Efficient management of payables is crucial for maintaining positive vendor relationships and managing effective cash flow.
Payments Received: Payments Received track all the money coming into a business, helping to keep tabs on cash flow and revenue.
Payroll: Payroll includes the total amount paid to employees for their services, including salaries, wages, bonuses, and benefits. Efficient payroll management is crucial for ensuring timely and accurate compensation for employees and compliance with tax regulations.
Petty Cash: Petty Cash is a small amount of cash kept on hand by businesses for minor expenses. It’s typically used for small purchases and reimbursements that are impractical to process through regular accounting channels.
Physical Inventory Worksheet: Physical Inventory Worksheet helps count stock on hand, making sure there are no discrepancies between records and reality.
P&L (Profit and Loss): The Profit and Loss (P&L) statement is a vital record detailing a business’s financial performance. Febi’s real-time dashboard aims to make this clear and comprehensive, guiding users through their financial journey effortlessly. Further, Febi’s users can access their Profit and Loss statement in the Reports section.
Prepayment: Prepayment refers to paying for goods or services before receiving them. It’s a common practice in various industries, allowing businesses to secure future services or inventory. Efficient prepayment management is essential for cash flow optimisation and budget planning.
Prior Your Financials (PYF): Prior Your Financials (PYF) is past financial data, useful for comparing performance over time and making informed decisions.
Privacy Policy: The Privacy Policy underscores our unwavering commitment to safeguarding confidential information. Febi.ai adheres to strict data protection protocols, ensuring transparency and security to instil confidence in the sanctity of user information. The Role-Based Access Control feature lets the administrator decide viewing, editing and sharing access for every software user.
Procurement: Procurement involves the process of acquiring goods and services for a business. It encompasses activities such as sourcing suppliers, negotiating contracts, and managing vendor relationships to ensure optimal quality and cost-effectiveness.
Product Method List: Product Method List organises how products are managed and categorised, making inventory management easier and more efficient.
Product/Service List: Product/Service List catalogues everything a business sells, making it easy to keep track of offerings and prices.
Profit Margin: Profit Margin is a financial metric that measures the profitability of a product or service by comparing the profit generated to the revenue earned. It enables businesses to assess the efficiency of their operations and pricing strategies.
Project Management: Project Management involves planning, organising, and overseeing the execution of specific projects within a business. It includes defining project goals, allocating resources, and managing timelines to ensure successful project completion.
Provision: Provision refers to setting aside funds to cover future expenses or liabilities that are uncertain in nature. It helps businesses prepare for contingencies and ensure financial stability in the face of potential risks.
Purchase By Vendors: Purchase By Vendors tracks purchases from specific suppliers, helping businesses manage relationships and inventory levels.
Ratio Analysis: Ratio Analysis is a technique used to evaluate a company’s financial performance by analysing its financial ratios derived from the financial statements. It helps stakeholders assess profitability, liquidity, solvency, and operational efficiency, aiding decision-making.
RCM: Refund Charges Mechanism (RCM) outlines how businesses manage refunds, including any associated fees or deductions, ensuring transparency and fairness in customer transactions.
Receivables: Receivables, also known as accounts receivable, represent amounts owed to a business by its customers for goods or services sold on credit. Efficient management of receivables is essential for maintaining cash flow and minimising bad debts.
Receivables Details: Receivables Details provide comprehensive information about amounts owed to a business by customers or clients. This includes invoice details, payment terms, outstanding balances, and ageing information, aiding in effective accounts receivable management and financial decision-making.
Receivables Summary: Receivables Summary offers a concise overview of amounts owed to a business by customers or clients, including outstanding balances and payment statuses. It helps businesses track and manage accounts receivable efficiently.
Reconciliation with 26AS: Reconciliation with 26AS involves comparing income reported in the income tax return with the details available in Form 26AS, ensuring accuracy and compliance with tax regulations.
Refund History: Refund history provides a record of past refunds issued by a business to customers, including refund amounts, dates, and reasons. It aids in tracking refund transactions and resolving any discrepancies or issues efficiently.
Regulatory Compliance: Regulatory Compliance refers to the adherence to laws, regulations, and standards relevant to a business’s operations, in areas like financial reporting, taxation, and data privacy. Compliance ensures that businesses operate ethically and within legal boundaries, mitigating risks of fines, penalties and reputational damage.
Reserves: Reserves are funds set aside by a company for specific purposes, such as future investments, contingencies, or dividend payments. They provide financial stability and flexibility, serving as a strategic asset for the company.
Retained Earnings: Retained Earnings are the cumulative profits retained by a company after distributing dividends to shareholders. They represent the portion of profits reinvested back into the business for growth and expansion, contributing to long-term financial sustainability and shareholder value maximisation.
Return on Investment (ROI): Return on Investment (ROI) measures investment profitability, calculated by dividing net profit by initial cost. It informs decision-making on investment strategies and resource allocation.
Revenue Recognition: Revenue Recognition defines when and how revenue should be recorded, ensuring it’s recognized when earned and realisable. Adherence maintains financial transparency and regulatory compliance.
Risk Management: Risk Management involves identifying, assessing, and mitigating potential risks that could negatively impact a company’s objectives. It includes strategies and processes to minimise the adverse effects of uncertain events on financial performance and operations.
Role Based Access Control: Role Based Access Control (RBAC) is a method of restricting system access to authorised users based on their roles within an organisation. It ensures that individuals only have access to the resources and information necessary for their specific job functions, enhancing security and data integrity.
Sales By Business Detail: Sales By Business Detail provides a comprehensive breakdown of sales transactions categorised by specific business entities or units. It offers insights into sales performance across different segments, aiding in strategic decision-making and resource allocation.
Sales By Business Summary: Sales By Business Summary offers a condensed overview of sales performance grouped by business entities or units. It provides key metrics such as total sales revenue, average transaction value, and sales trends, enabling quick analysis and comparison across different business segments.
Sales By Customer Detail: Sales By Customer Detail provides a detailed analysis of sales transactions attributed to individual customers. It includes information such as purchase history, transaction dates, and order specifics, facilitating personalised customer engagement and targeted marketing efforts.
Sales By Customer Product/ Service Detail: Sales By Customer Product/Service Detail offers a granular view of sales transactions broken down by specific products or services purchased by individual customers. It helps businesses understand customer preferences, identify cross-selling opportunities, and tailor product offerings to meet customer needs.
Sales By Customer Summary: Sales By Customer Summary provides a concise summary of sales performance categorised by individual customers. It includes metrics such as total sales volume, average purchase frequency, and customer retention rates, enabling businesses to identify top-performing customers and implement strategies to enhance customer relationships.
Sales By Product/Service Detail: Sales By Product/Service Detail offers a detailed breakdown of sales transactions categorised by specific products or services sold. It includes information such as unit sales, revenue generated, and sales trends for each product or service, aiding in inventory management and product planning.
Sales By Product/Service Summary: Sales By Product/Service Summary provides a summarised view of sales performance grouped by product categories or service offerings. It offers key metrics such as total sales revenue, units sold, and sales growth rates for each product/service category, facilitating analysis of product/service performance and market trends.
Secured Loan: A Secured Loan is a type of loan backed by collateral, such as property or assets, which reduces the lender’s risk. In case of default, the lender can seize the collateral to recoup losses, making secured loans less risky for lenders and potentially offering lower interest rates for borrowers.
Share Capital: Share Capital represents the funds raised by a company through the issuance of shares to shareholders. It is a major source of long-term financing for a company and represents ownership in the business. Share capital is typically divided into different classes of shares, each with its own rights and privileges.
Share Certificate: A Share Certificate is a legal document that serves as evidence of ownership of shares in a company. It contains details such as the shareholder’s name, the number of shares owned, and any special rights or restrictions associated with the shares. Share certificates are issued by the company’s registrar or transfer agent.
Smart Invoicing: Smart Invoicing refers to the use of technology, automation, and data analysis to streamline and optimise the invoicing process. Febi’s smart invoicing features such as automatic invoice generation, tracking and integration with the user’s bank account. Smart invoicing helps businesses save time, reduce errors and improve cash flow management.
Summary of Inward Supplies: Summary of Inward Supplies provides a condensed overview of all goods or services received by a business from suppliers. It includes details such as the quantity, value, and source of inward supplies, aiding in inventory management and procurement analysis.
Summary of Outward Supplies: Summary of Outward Supplies offers a concise summary of all goods or services sold or provided by a business to customers. It includes information such as sales volume, revenue generated, and customer details, facilitating sales analysis and revenue tracking.
Suspense Input: Suspense Input refers to transactions recorded in a suspense account temporarily until they can be properly classified or reconciled. It serves as a placeholder for transactions with incomplete or uncertain information, ensuring accurate financial reporting and preventing errors in accounting records.
Tangible Fixed Assets: Tangible Fixed Assets are physical assets like land, buildings, and machinery used in business operations. They’re recorded on the balance sheet at cost minus depreciation and are crucial for operational efficiency and financial performance. Efficient management ensures optimal resource use and long-term profitability.
Tax Management Software: Febi provides tax management tools to help clients efficiently manage their tax obligations. To support this function, it includes features such as automated tax calculations, tax filing reminders, and integration with tax authorities’ systems for seamless filing.
TDS (Tax Deducted at Source): TDS ensures taxes are deducted upfront from various income sources. Febi.ai simplifies TDS management by automating calculations and filings, ensuring timely compliance with tax laws and regulations.
Tax Filings: Tax filings involve submitting financial information to tax authorities for assessment and compliance. Febi streamlines this process by automating data recording, analysis and reporting, ensuring accuracy and adherence to tax regulations. Additionally, it provides insights and expert guidance to optimise tax strategies and minimise liabilities.
Tax Preparation: Tax preparation involves organising and compiling financial information to complete tax returns accurately and efficiently. It includes gathering income, expense and deduction details, completing necessary forms, and submitting them to tax authorities. Febi.ai simplifies tax preparation by providing tools and assistance to streamline the process and ensure compliance with tax laws.
Tax Summary: Tax Summary provides a brief overview of a company’s tax-related information, including total taxes paid, tax liabilities, and any tax credits or deductions. It helps businesses track their tax obligations and ensure compliance with tax regulations.
Time Activities by Customer Detail: Time Activities by Customer Detail offers a detailed breakdown of the time spent on activities for each customer or client. It includes information such as hours worked, tasks performed, and billable rates, aiding in accurate billing, client invoicing, and project management.
Time to Get Paid: Time to Get Paid measures the average time it takes for a business to receive payment from its customers or clients. It helps businesses assess their cash flow cycle, identify bottlenecks in the invoicing and payment process, and implement strategies to improve receivables management and shorten payment cycles.
Turnover: Turnover refers to the total sales generated by a business over a specific period. It reflects the company’s ability to convert its goods or services into revenue. Turnover is a key performance indicator used to assess business performance and efficiency. Febi.ai helps businesses track and analyse turnover data to make informed decisions and optimise sales strategies.
Trade Creditors: Trade creditors are entities to whom a business owes money for goods or services received on credit. They represent short-term liabilities to be paid within a specified period. Effective management of trade creditors is essential for maintaining positive relationships with suppliers and effective management of cash flow. Febi.ai provides tools to track and manage trade creditor accounts, ensuring timely payments and vendor satisfaction.
Trade Debtors: Trade debtors are entities that owe money to a business for goods or services provided on credit. They represent short-term assets that are expected to be converted into cash within a specified period. Managing trade debtors effectively is crucial for maintaining cash flow and minimising bad debts. Febi.ai offers tools to monitor and manage trade debtor accounts, facilitating timely collections and reducing credit risks.
Transaction List By Customer: Transaction List By Customer provides a detailed record of all transactions associated with individual customers. It includes information such as sales, payments, credits, and refunds, enabling businesses to track customer transactions accurately and efficiently.
Transaction Management Through AI: Transaction management powered through AI and trained machine learning algorithms exemplifies dedicated financial support. Febi.ai’s AI rigorously categorises and verifies transactions, ensuring accuracy in financial records and allowing users to focus on core business activities with confidence.
Trial Balance: A statement summarising all general ledger accounts and their balances at a specific moment, confirming debit and credit equilibrium. It serves as an initial verification of financial data accuracy before generating financial statements. Febi’s Report section displays ledger names, opening and closing balances, and transactions, with the option to filter by start and end dates.
Undeposited Funds Account: The Undeposited Funds Account is a temporary holding account for payments received but not yet deposited into the bank. It streamlines the reconciliation process by consolidating payments until they are deposited in bulk, ensuring accurate financial records.
Underwriting: Underwriting is the process of assessing and evaluating the risk associated with insuring or providing financial services to individuals or businesses. It involves analysing factors such as creditworthiness, financial stability, and risk exposure to determine the terms and conditions of insurance policies or financial products.
Utility Expenses: Utility Expenses refer to the costs associated with essential services such as electricity, water and gas. These expenses are incurred by businesses and individuals for maintaining operational facilities and infrastructure. Managing utility expenses effectively is crucial for controlling overhead costs and optimising operational efficiency.
Utilisation Rate: Utilisation Rate is a metric used to measure the efficiency of resource utilisation within a business or organisation. It calculates the percentage of time or capacity that resources, such as employees, equipment, or facilities, are actively used or productive compared to their total available time or capacity.
Variable Costs: Variable Costs are expenses that change in direct proportion to changes in production or sales levels. Examples include raw materials, direct labour, and sales commissions. Variable costs fluctuate based on business activity and are typically incurred on a per-unit basis.
Vendor Balance: Vendor Balance represents the amount owed to suppliers or vendors by a business. It reflects the outstanding balances for purchases made on credit terms and helps businesses manage their accounts payable effectively.
Vendor Balance Summary: Vendor Balance Summary offers a concise overview of the amounts owed to each vendor or supplier. It provides a summary of outstanding balances, payment terms, and ageing information, facilitating quick analysis and decision-making regarding vendor payments.
Vendor Management: Vendor Management involves the oversight and control of relationships with suppliers and vendors. It includes activities such as vendor selection, contract negotiation, performance evaluation, and ensuring compliance with terms and conditions.
Vendor Payment: Vendor Payment records payments made to suppliers or vendors for goods or services received. It includes details such as payment dates, amounts paid, and payment methods, aiding in accurate financial record-keeping and cash flow management.
Vendor Refund History: Vendor Refund History tracks refunds issued to suppliers or vendors for returned goods or overpayments. It provides a record of refund transactions, including refund amounts, dates, and reasons, ensuring transparency and accuracy in vendor transactions.
Venture Debt: Venture Debt is a type of debt financing provided to startups and high-growth companies by specialised lenders. It complements equity financing and provides additional capital to support growth initiatives without diluting ownership stakes.
Virtual Currency: Virtual Currency is a type of digital currency that exists electronically and is not issued or regulated by any central authority. Examples include Cryptocurrencies like Bitcoin and Ethereum. Virtual currencies can be used for online transactions and as a form of investments.
Wealth Preservation: Wealth Preservation refers to strategies and techniques used to protect and safeguard assets from risks such as market volatility, inflation, taxation, and legal liabilities. It aims to maintain and grow wealth over the long term while minimising potential losses and preserving capital.
Weighted Average Cost of Capital (WACC): Weighted Average Cost of Capital (WACC) is a calculation used to determine the average cost of financing a company’s operations through a mix of debt and equity. It takes into account the cost of equity and the cost of debt, weighted by their respective proportions in the company’s capital structure.
Withholding Tax: Withholding Tax is a tax deducted at the source from income payments made to employees, contractors or any other payees. It is withheld by the payer and remitted to the government on behalf of the recipient. Withholding tax applies to various types of income, including wages, interest, dividends and royalties.
Workflow Solutions: Workflow solutions are akin to a finely tuned engine optimising business operations. Febi.ai’s workflow solutions are meticulously engineered to enhance efficiency, streamlining financial processes with a tailored approach to individual business needs.
Working Capital: Working Capital is the difference between a company’s current assets and liabilities. In other words, it is the funds available for daily operations and is crucial for meeting short-term obligations and supporting business growth.
Working Capital Cycle: The Working Capital Cycle, also known as the cash conversion cycle, is the time it takes for a company to convert its investment in current assets into cash flow from sales. It includes the periods of time for inventory turnover, accounts receivable collection, and accounts payable payment.
Working Capital Ratio: The Working Capital Ratio, also known as the current ratio, is a financial metric used to assess a company’s liquidity and short-term solvency. It compares current assets to current liabilities and measures the company’s ability to meet its short-term obligations using its current assets.
Write-off: A Write-off is the accounting process of removing an asset or liability from the balance sheet due to its impaired value. It involves recognising a loss or expense on the income statement to reflect the reduction in the value of the asset or the elimination of the liability.
Zero-Based Budgeting: Zero-Based Budgeting (ZBB) entails justifying all expenses from scratch for each budget period, starting from zero. This budgeting method promotes cost efficiency and strategic resource allocation by eliminating reliance on previous budgets.
Zero-Based Forecasting: A forecasting technique that starts with a blank slate for each period, requiring Febi’s clients to justify and estimate future expenses and revenues from scratch. This approach can help improve the accuracy of financial projections.
Febi.ai