Bad Debt
Money owed for a business debt that cannot be collected

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.

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.

Audit
A systematic review or examination of the assertions or actions of a third party to evaluate conformance to some norm or benchmark.

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

Receipt
A written record of a transaction.

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

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

Statement
A formal written summary of outstanding invoices.

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.