Product and Accounting Glossary

If you are checking a balance, start with the source document and its posting date. A draft may explain work in progress, while a posted journal explains a ledger amount.

• Accounting period: The posting window for a date range. A period may be Open, Locked, or Closed. Ordinary postings require an open period; year-end close requires a locked fiscal-year period.
• Chart of accounts: Your company's ledger accounts for journals, tax, inventory, customer balances, and supplier balances. Your company chooses its account codes.
• General ledger: Posted journal entries and lines. Draft documents are not ledger balances.
• Trial balance: Debit and credit balances of posted accounts at a cutoff date.
• Accounts receivable / payable: Customer and supplier outstanding amounts represented by source documents, allocations, and ledger postings.
• Allocation: Application of a payment or credit to an eligible invoice or bill. An unallocated amount is not settled.
• Exchange rate: Conversion between transaction currency and company base currency at the relevant document or settlement date.
• Year-end close: Posting of a closing journal for a locked fiscal-year period, followed by closure. Review balances and prerequisites before execution.

An order is a promise or request. Receiving and fulfillment record physical goods, while bills and invoices record the amount owed. Keep these milestones separate when answering a supplier or customer.

• Purchase order: Supplier order that moves from Draft through Sent and Confirmed, then Partly received or Received as deliveries arrive. It can be Canceled only in supported states.
• Receipt: The record of goods physically accepted from a supplier. Check its receipt number, quantities, and warehouse before processing another delivery.
• Supplier bill: Payable document to be reviewed and posted separately from receiving.
• Sales order: Customer order that can be Draft, Reserved, Processing, Fulfilled, or Canceled.
• Reservation: Stock committed to a sales order but not yet physically fulfilled.
• Fulfillment: Inventory issue against an order; check resulting movements and document links.

When two people disagree about stock, agree on the product variant, warehouse, bin, and date first. Then compare the physical label with the tracking identity on screen.

• Variant / SKU: Sellable or stock-tracked product choice identified by a SKU.
• Warehouse / bin: Stock-holding site and optional physical location within it. A bin must belong to its warehouse.
• On hand: Physical stock recorded for a variant and location.
• Reserved: Portion of on-hand stock committed to an order.
• Available: On-hand minus reserved at the relevant scope; stock in another warehouse or bin may not satisfy the current action.
• Lot: Batch identity with quantities and optional manufacture or expiration dates.
• Serial: Identity of one physical unit. Its status shows whether it is awaiting receipt, in stock, reserved, allocated, sold, in transit, returned, defective, or scrapped.
• Costing method: The method chosen for inventory cost and pick order: FIFO, FEFO, LIFO, or Average. The available choices depend on the product and action.
• Stock transfer: Movement between warehouses that can be Pending, In transit, Received, or Canceled.
• Stock take: Physical count that moves from Draft or In progress to Review, then Completed or Canceled. A completed count should be reconciled to physical evidence.

If a button is missing, check the record's status and the organization's active plan before asking an administrator to review your role. A permission grants an action only where that action is available in the workflow.

• Role permission: Action-specific authorization assigned to a user role, separate from subscription entitlements.
• Plan feature: A tool or usage limit included in your company's subscription.
• Ask KariVast: A help assistant for signed-in users. Ask about KariVast tasks and check the guide linked in its answer.