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Terminology (or jargon)

13th Nov 2009
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Why do we confuse clients with interchangeable terms?  Creditors, Purchase Ledger, Bought Ledger and Accounts Payable or Debtors, Sales Ledger and Accounts Receivable are in frequent use.  I have even heard Sold Ledger - which is technically correct when faced with Bought Ledger, although it is not in common use. 

What we mean is money owed - by customers or to suppliers.  Can we not just say Customer Accounts and Supplier Accounts.  Those words are understood by clients and non-accountants.  The jargon from across the pond is Accounts Receivable and Accounts Payable and this is no improvement when trying to talk to non-accountants.  The drive towards plain English should make life easier for other business disciplines not harder.

Ray

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