When you owe someone for the goods or services delivered to you. The sum of all accounts payable becomes a liability. Each time you make a purchase, the unpaid amount is added to the accounts payable balance.
When your customers owe you for the goods or services delivered to them. The sum of all accounts receivables becomes an asset for the company. Anytime you make a sale, the unpaid balance is added to the accounts receivable balance.
Aging is the number of days between invoicing a client and a specific date, usually today. You can age from the due date or transaction date. An aging report shows who owes how much and how long the invoice has been out.
A backup is an exact copy of your company file. This provides an alternative and complete database if your computer fails, your hard disk crashes, or you accidentally erase information from the working database.
Billable is a status of time worked on a particular project that allows the program to charge a client for the time.
Budget tracks the expected revenue or cost of a project against the actual.
The normal default billing rate of an employee.
Any person, business, or group that pays for the goods and services that your business or organization sells or provides.
The organization providing services to clients. Another common term for an organization is ‘firm’.
Designation of the type of project, job or engagement. In ArchiOffice/EngineerOffice, we have three types of contracts-billable, internal and RFP.
The fully loaded cost for the employee. This rate should include the salary, benefits and overhead portion for the employee.
Dashboard is a control area displaying the key performance metrics of a business. It contains a series of widgets or mini-applications that extract information from your company database and present it in the best format on panels.
Direct Personnel Expense
Draft Invoice is a preliminary invoice created for internal review by managers and principals. Draft invoices are not receivables and need to be finalized for billing.
Direct Salary Expense
It is a trial version of software for you to use temporarily for the purpose of evaluating it.
For an expense entry, this amount equals Rate x Quantity. For a time entry, this costs it equals Rate x Hours. The extended value does not include tax.
12-month time period used to define the accounting year. It can be different from the usual calendar year.
Actions undertaken on the project of a client. In ArchiOffice/EngineerOffice, such actions are called ‘job codes’. Other terms for a job code include ‘service’, ‘service code’, ‘task’ and ‘job.’ You can enter job codes in the Preferences screen.
License Key is a code (sequence of letters and numbers) provided by BQE Software when the software is purchased. The encrypted information in the key includes the company name and number of authorized users.
A milestone is a scheduled event signifying the completion of a major deliverable or a set of related deliverables on a project.
Phase is a subgroup of services provided as part of a larger group of services called a project. Phases can be broken down because of contractual stipulations, or to better organize and communicate the work done as part of the total project.
ArchiOffice/EngineerOffice uses subscreens or tabs that display information related to the main or parent screen.
Project is the total service provided to a client. Other terms for a project include ‘engagement’ and ‘job.’
QuickBooks is a financial management software, product of Intuit Inc.
Retainer is payment that you receive in advance for performing a task. This money is a liability because you owe the service to the client.
Request for Information
Request for Proposal
The role a contact plays in the performance of a project or job.
Statement is a periodic account summary sent by a company to customers who have account transactions during the billing period. It summarizes invoices, adjustments and payments.
Screen where users enter their time entries, that is, time spent working on specific projects.
Version of the software to be used to review, demonstrate and evaluate it for a limited time period.
Periodic updates containing software updates, new features and items included at no additional charge. The main version number does not change; only the updates build number changes. Updates are generally categorized as a Maintenance Release, New Feature Release or Help Update.
Upgrade is a software version that contains significantly more new features, reports, functionality, and perhaps new user interface elements. The main version number is also changed.
Work-In-Progress (WIP) essentially represents the billable, approved, unbilled time and expense entries or their value.
A group of people working together and having same set of access rights to ArchiOffice/EngineerOffice.