Glossary

Term

Meaning

Account Payable

Account payable or AP refers to a business's short-term obligation owed to either its creditor or supplier and which has not yet been paid to them. When referring to multiple accounts (pl. accounts payable), it denotes the sum total of all short-term obligations owed by the business.

See also: Account Receivable

Account Receivable

Account receivable or AR denotes the total sum of money due to a business from its customers for goods or services delivered by it but not yet paid for by them. When referring to multiple accounts (pl. accounts receivable), it denotes the sum total of all short-term dues owed to the business.

See also: Account Payable

Actual/Actuals

On Forwardly, an actual or actuals are the recorded revenues and expenditures as retrieved from the accounting program. As against actuals, we can have projections and forecasts, which are data derived from the actual data. It should be noted that an actual can be edited, excluded, included, or copied from a forecast or a projection, but not deleted.

As an illustrative example, the image below depicts the actual data that has been imported from the accounting software. viz., outstanding invoices and bills, and the P&L statement.

AP

See Account Payable.

Cash flow refers to the movement of money vis-à-vis a business and is evaluated as the net amount of cash flowing in and out of it. Cash received represents inflows, while money expended represents outflows.

Cash today is the balance of all the bank accounts as of the current date. It will be the same as in the balance sheet or the trial balance of the connected accounting software. The cash today value is displayed on the dashboard as shown below.

Clicking the cash today tab will list each bank account as well as the current balance in each one of them.

Chart of Accounts, or simply COA, is an index of all the financial transactions in the general ledger of a business.

The figure below depicts a sample COA for the purpose of illustration.

A Hard Reset will delete all manual entries, including all scenarios and projections. Once deleted, the updated data is resynced from the accounting software to the Forwardly account.

See also: Reset

Last Synced is a micro report widget located toward the top of your Forwardly dashboard. It displays the elapsed time span since the data from the connected accounting software was successfully synchronized with your Forwardly account.

The image below depicts the last synced widget.

See also: Sync

A simple Reset is a soft reset that removes all manual entries from a selected scenario. The image below shows the location of the Reset button.

See also: Hard Reset

The sync operation updates data within your Forwardly account with any changes made in the connected accounting software. The Sync button is located toward the top of your Forwardly dashboard.

See also: Last Synced

A System Forecast is a projected transaction evaluated by Forwardly based on the accounting data linked from the accounting software, and it is calculated each time accounting data is updated and synced to Forwardly. A System Forecast can be edited, excluded, included, or copied, but not deleted from the projection.

See also: User Forecast

A User Forecast is a transaction added by the user. A User Forecast transaction can be edited, excluded, included, copied, and also deleted.

See also: System Forecast