The Ultimate Qashiopedia
GAAP (Generally Accepted Accounting Principles)
GAAP is a set of widely accepted accounting standards and rules, serving as the general accounting standard that most large companies in the US follow, while public and regulated firms are required to adhere to these standards. Most companies outside the US follow IFRS accounting standards.
GL Code Mapping
The automatic assignment of General Ledger (GL) codes to transactions when using the Qashio card, makes reconciliation with accounting systems seamless.
General Ledger
A comprehensive record of all financial transactions of a business, organised by account. Each expense made with Qashio’s corporate card is assigned to a specific GL account, allowing finance teams to categorise and track expenditures accurately.
General ledger
The general ledger, often abbreviated as GL, is the foundation of double-entry accounting. It contains a business's financial data and other account information used to prepare financial statements. The general ledger has pages for each account as defined by the Chart of Accounts, covering assets, liabilities, owner's equity, revenue, expenses, profits, and losses.
Geo-Location Controls
A security feature that limits card usage to specific locations, helping companies ensure that spending is within agreed geographic regions.
Hedge / hedging
A hedge is a financial investment made to reduce the risk of potential price volatility of an asset. Essentially, it is a strategy employed by investors to protect themselves against losses in an investment by taking an opposing position. Hedging can be performed using various financial instruments.
Holding Costs
Holding costs is a blanket term that describes all expenses associated with storing inventory. These costs may include depreciation, insurance, obsolete inventory, personnel, rental space, security, and more.
Human Resources Information System (HRIS)
An HRIS is a data collection and storage system for business employees. It is the most commonly used software for HR and encompasses the fundamental functions for end-to-end Human Resource Management (HRM). The HRIS is utilised for recruiting, performance management, learning and development, among other tasks.
Hybrid Annuity
An annuity is essentially an insurance contract where you commit a certain amount of money at the time of signing to receive a lump sum or several planned payments in the future. A hybrid annuity follows the same concept; however, it allows the investor to divide their money between both variable and fixed-rate financial assets. For example, with a hybrid annuity, you can invest a portion in low-volatility assets and another portion in high-volatility assets, aiming to provide a steady income stream during retirement.
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