Double-Entry Accounting
A system of accounting that records each business transaction twice.

Accounts Receivable
Amounts owed to a business that the business expects to receive.

Account
A collection of financial information grouped according to customer or purpose.

Accounting
term that refers to the overall process of tracking your business's income and expenses, and then using these numbers in various calculations and formulas to answer specific questions about the financial and tax status of the business.

Accrual Method Of Accounting
Accounts for income and expenses in the 12-month period earned or incurred, which is not necessarily when it is received or paid.

Net Income
Gross income less expenses; it represents a business's profit for a given year.

Blue Book
This is the term commonly used to describe the Government Finance Officers Association publication Governmental Accounting, Auditing and Financial Reporting. Initially, the blue book was the authoritative source for GAAP for state and local governments.

Adult Protective Services (APS
Adult Protective Services includes the 24-hour, 365 days a year access to assistance and/or referral with reports of physical, sexual or emotional abuse, neglect by caretaker, self-neglect, exploitation and abandonment.

Cash Method Of Accounting
Accounts for income and expenses when actually received or paid.

Invoice
A written record of a transaction, often submitted to a customer or client when requesting payment.