Glossary

Look up a word here when a screen or a guide uses it. Terms are in alphabetical order. Where a term has its own guide page, a link follows the meaning.

Account Payable

Money your company owes to suppliers. In Winlium, bills, supplier payments and AP batches live under Account Payable in the Accounting menu.

Account Receivable

Money customers owe your company. Invoices, customer receipts and AR batches live under Account Receivable in the Accounting menu.

Advance

Money paid to a staff member before they spend it. The person later clears the advance with receipts. See Expense.

Advance Clearance

An expense that uses up all or part of an advance you were given, by showing what you spent it on.

AP Batch

A batch that settles several supplier bills together instead of one at a time. AP means Account Payable.

Approval Status

The state of the approval of a document, shown on My Approvals. It is not the same as the document's own status. See Working with approvals.

Approver

A person who decides on a document in an approval. An approver can approve, reject, ask a question or pass the task on.

AR Batch

A batch that settles several customer invoices together. AR means Account Receivable.

Balance Sheet

A report that lists what the company owns, owes and is worth on one date.

Bank Reconciliation

Checking that your cash book agrees with the bank statement, line by line.

BID

Business Intelligence Dashboard. A page of charts and figures for managers. Each module with a BID has it as a heading in the menu.

Bill

A bill from a supplier that you must pay. Also called a Supplier Bill. When you post it, it adds to what you owe.

Branch

A location or office of your company, such as a Lagos branch. Branches are set up in Administration, under Organisation Structure. A branch can limit what a user sees. See Org-unit access scoping.

Business Partner

A company or person you trade with, such as a customer or a vendor. Business Partners are kept in a list in Administration, under Master Data.

Business Unit

A division of the company, set up in Administration, under Organisation Structure.

Cash Book

A record of cash and bank money coming in and going out.

Chart of Accounts

The list of all ledger accounts a company uses, such as cash, sales and rent. Every posting lands on accounts in this list. A new company gets a default chart when it is created.

Company

One set of books in Winlium. You work in one company at a time and can switch if you belong to more than one. See Choose a company.

Cost Center

A part of the business whose costs you want to track on their own, such as the Lagos warehouse or the sales team. Cost Centers are set up in Administration, under Organisation Structure.

Credit Note

A document that reduces what a customer owes you, for example after a return. A credit note linked to an invoice reduces that invoice's balance.

Customer Invoice

A bill you send to a customer for goods or services. Menu name: Invoice.

Customer Receipt

A record of money received from a customer.

Delegation

Handing your approvals to a colleague for a period. See Working with approvals.

Delivery Order

A document for goods sent out of your warehouse to a customer. When you process it, stock goes down.

Department

A team or function in your company, such as Finance or Sales. Departments are set up in Administration, under Organisation Structure.

Draft

A document that is saved but not yet submitted or posted. You can still change it. See Document numbers and statuses.

Expense

A claim for money you spent for the company. Expenses can be a Claim, an Advance Clearance, a Corporate Card expense or a Petty Cash expense. See Expense.

Financial Year

The twelve-month period your books run in. Each year is split into monthly periods. A posting needs an open period. See Financial years and periods.

Fixed Asset

Something the company owns and uses for years, such as a vehicle or a generator. Winlium tracks its cost, depreciation and disposal.

Foreign Currency

A currency other than your home currency, with an exchange rate.

General Journal

A document where an accountant posts a manual entry to ledger accounts, with debits equal to credits.

General Ledger

The full record of every posting to every account.

Goods Received Voucher (GRV)

A document that records goods received into a warehouse, from a supplier. When you process it, stock goes up. Search shortcut: GRV.

Group

A set of users that an administrator manages together. Groups are in Administration.

Home currency

The currency your books are kept in. You choose it when you set up the first company. For most Nigerian businesses it is NGN - Nigerian Naira.

Imprest

A fixed amount kept as a float for small payments. A Petty Cash Fund has an Imprest Amount. It is the ceiling the fund is topped up to.

Inventory Count

A stock take. You count what is on the shelf and compare it with what Winlium shows. Differences become adjustments.

Item

A product or material you stock, buy or sell. Items are in Inventory Items.

Journal Batch

A document that groups several stock adjustments and posts them together.

Lead

A possible sale that you are following up. Menu name: Sales Lead.

Location

A place inside a warehouse where stock is kept, for example Zone, then Rack, then Bay.

Lot Tracking

Following stock by batch or lot number, so you know where each lot came from and where it went.

Module

One area of Winlium, such as Accounting or Inventory. Your company turns modules on, and your role decides which you can open. See Navigating the app.

Obligation Type

A kind of tax or statutory duty that Compliance tracks. A new company gets VAT, WHT, PAYE, Pension and NHF.

Org unit

A branch, warehouse or similar unit of the company. Winlium can limit what a user sees to chosen org units. See Org-unit access scoping.

Permission

One thing a role lets a person do, such as view or create a document type. See Roles, permissions and module restriction.

Petty Cash Fund

A small cash float kept for everyday costs. It has an Imprest Amount. You replenish it when it runs low.

Posting

The step that records a document in the ledger or in stock. A posted document counts in reports.

Pricelist

A list of selling or buying prices for items.

Prospective Vendor

A supplier who is being assessed and has not yet been onboarded.

Purchase Order (PO)

A document you send to a vendor to order goods or services at agreed prices. Search shortcut: PO.

Quick View

A summary page at the top of a module's menu. It shows key numbers and links.

Quotation

An offer you give a customer with prices, before an order. In Purchase, a quotation is a vendor's reply to your RFQ.

Requisition

An internal request for stock or for something to be bought. A requisition can go to the store or on to Purchase. It usually needs approval.

RFQ

Request for Quotation. A request you send to vendors asking for prices before you place an order.

Return to Suppliers

A document for goods you send back to a supplier.

Role

A set of permissions given to users. An administrator assigns roles. See Roles, permissions and module restriction.

Sales Order

A confirmed order from a customer.

Seat

One user place in your Winlium licence. An invited user who has not activated yet also uses a seat. See Accept an invite.

SLA

Service Level Agreement. It sets how fast a request should be answered and resolved.

Stock Request Transfer

A request to move stock from one warehouse to another. The other end confirms it with a Stock Request Receipt.

Supplier Payment

A payment you make to a supplier, usually against one or more bills.

Tax Group

A set of taxes applied together to a line on a document.

Trial Balance

A report that lists every account with its debit or credit balance. Debits equal credits when the books balance.

Unit of Measure

How an item is counted, such as each, kilogram or carton.

Vendor

A supplier you buy from. Vendors are in the Purchase module.

VAT

Value Added Tax. In Nigeria the standard rate is 7.5%. Winlium takes the rate from the tax on each line. See WHT and VAT.

Void

To cancel a posted document so that it no longer counts. Winlium shows the status Void.

Warehouse

A place where you keep stock. A company can have many. Each warehouse can belong to a branch. One warehouse can be marked as the master warehouse.

WHT

Withholding Tax. Tax you hold back from a payment to a supplier and pay to the tax authority. On a supplier payment you choose whether to apply it. See WHT and VAT.

Workflow Template

The set of approval steps for a type of document. It says who approves, in what order, and under what conditions. See Workflows and approvals.

Workspace

Your organisation's Winlium account. One workspace can hold more than one company.