UCD Accounting Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Term	Definition
Ledger	The basic and official accounting record of all financial transactions recorded under each revenue, expenditure and balance sheet account.
Legacy System	The previous accounting system. Often used to refer to older systems.
Lien	Encumbrance
Local Area Agreement	A campus-wide fixed price agreement. Orders are issued against the agreement by opening a Departmental Purchase Order (DPO). Reference the agreement number in the DPO document to bring forward the agreement information. Visit the online help for instructions on how to process a DPO against an agreement.
Log	To record daily progress or activity.

Term

Definition

Ledger

The basic and official accounting record of all financial transactions recorded under each revenue, expenditure and balance sheet account.

Legacy System

The previous accounting system. Often used to refer to older systems.

Lien

Encumbrance

Local Area Agreement

A campus-wide fixed price agreement. Orders are issued against the agreement by opening a Departmental Purchase Order (DPO). Reference the agreement number in the DPO document to bring forward the agreement information. Visit the online help for instructions on how to process a DPO against an agreement.

Log

To record daily progress or activity.

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