Glossary

Term

Meaning

Accounts Payable (AP)

Accounts 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, it denotes the sum total of all short-term obligations owed by the business.

See also: Accounts Receivable

Accounts Receivable (AR)

Accounts 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, it denotes the sum total of all short-term dues owed to the business.

See also: Accounts 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.

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

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.

See also: Sync

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.