Terminology (bookkeeping): verschil tussen versies

Versie van 20 jan 2024 22:10

I'm already struggling with bookkkeeping terminology in Dutch, my native language. And the more in English. Let's use this article to keep terms & translations consistent.

Both Dutch & English entries might be included here. Or one entry might mention the other entry, without the latter having a separate heading - Whatever.

Accounts payable

NL: Handelskrediteuren.

Account payable is not to be confused with regular creditors: This is short term credit, from the time between receiving an invoice and paying the invoice. It's not like 'real' credit - Only a float.
That's why in Dutch, handelskrediteuren is a better name than just krediteuren.

Example: VAT at closing balance

At a closing balance of any given year, there is likely to be a post at credit concerning VAT that has to be disbursed to the Belastingdienst over the last period of that year. That would be called Creditor: Belastingdienst (VAT to be disbursed) or something like that. This is credit, not accounts payable.

The moment this VAT submission is done, this amount changes to accounts payable: Only now it became a regular account payable.

Accounts receivable

NL: Debiteuren

BTW-aangifte

What's the proper English term for BTW-aangifte?

That's an excellent question for ChatGPT: It has endless patience for such nitpicking questions:

> I have a single-owned business, in The Netherlands. Every month, I have to send a form to the tax office (Belastingdienst) to inform them about VAT. In Dutch, this is called "BTW-aangifte". What would be the English term for this? "VAT submission", "VAT declaration", or maybe something else?

ChatGPT:

The English term for "BTW-aangifte" in the Netherlands is typically "VAT return" or "VAT declaration." Both "VAT submission" and "VAT report" are also commonly used alternatives to describe the process of providing information to the tax office regarding Value Added Tax (VAT) transactions. The specific term can vary slightly based on regional variations and preferred terminology, but "VAT return" and "VAT declaration" are widely understood and used.

Personally, I find VAT return a strange term, just as I find the US term tax return strange → I'll use VAT submission.

BTW: Verschuldigd

BTW: Verschuldigd is VAT that has been invoiced to the company's customers and that has to be disbursed to the tax authorities.
English: VAT: Due

BTW: Voorbelasting

This is VAT that has been incurred in purchases done by the company:

NL: BTW: Voorbelasting
EN: VAT: Pretax.

Chart of accounts - Rekeningschema

Chart of accounts [1] or rekeningschema: List of all accounts or grootboekrekeningen

Debet - Debit

NL: Debet
EN: Debit

Financieel feit

I'm often struggling with how to call the stuff that you put on a line in a bookkeeping:

Financieel feit [2]
Journaalpost - That's how it appears in the bookkeeping. That's not exactly what I'm looking for here
Bookkeeping fact (EN).

General ledger - Grootboek

General ledger or grootboek: The collection of all accounts or grootboekrekeningen

Handelskrediteuren

This means the same as leverancierskrediteuren: Credit or float from suppliers.

EN:

→ Accounts payable
(Supplier credit - Supplier creditors)
(Trade credit? - Trade creditors?_

Journaalpost

Journaalpost: A mutation in an administration where debit and credit are balanced: It always involves at least two lines, regels or mutations [3]

Means of production

Productiemiddelen.

Onttrekking privé

Private withdrawal
Withdrawal private?

Posting

How do you call the act of putting stuff in a bookkeeping?

EN: Posting [4]
NL: Inboeken.

Rekening-courant

Current account
(Checking account)

Revenue

NL: Omzet
EN: Revenue - Not turnover.

General meaning

Revenue first and foremost, is an amount that does not include VAT
It's usually the sales amount ex. VAT.

Bookkeeping

Within bookkeeping, revenue is usually an mount without delivery costs, as transactions that include delivery costs, are likely to be administrated separately.

Webshops

Within webshop operations, revenue is usually including delivery costs, but without VAT over delivery costs

Sales amount

EN: Sales amount, sales figure or sales price
NL: Verkoopbedrag.

This is the amount that changes hand as part of a transaction. So it's usually including VAT.

VAT: Due

→ BTW: Verschuldigd

VAT: Pretax

→ BTW: Voorbelasting

VAT Rate

Is it rate or tariff in English?

> I have a single-owned business, in The Netherlands. Every month, I have to send a form to the tax office (Belastingdienst) to inform them about VAT. In Dutch, this is called "BTW-aangifte". Figures are split into two groups: "High VAT" and "Low VAT". How would you call these groups in English? "High VAT Rate & Low VAT Rate", or "High VAT tariff & Low VAT tariff"? Or something else?