# Lopifi — Markdown index

> Every content page on this site, as Markdown. Append the site path to /md — /docs/foundations/06-numerics becomes /md/docs/foundations/06-numerics.

Source: https://lopifi.com/md
Part of: Lopifi — US GAAP books on autopilot, reviewed by a CPA (https://lopifi.com)

---


For the whole corpus in one request use [llms-full.txt](https://lopifi.com/llms-full.txt). For an index of what exists use [llms.txt](https://lopifi.com/llms.txt).

## Documentation

- [Manifesto](https://lopifi.com/md/docs/01-manifesto): Financial software is where design quality has the highest stakes and the lowest average. The reason is structural: fintech UI is usually built by teams optimizing for correctness, and correctness is satisfied by a table. So you get a table. Then a chart library gets bolted on, then a card, then a m
- [Moodboard](https://lopifi.com/md/docs/02-moodboard): Not a Pinterest board. A set of read-closely references, each with a specific extraction — what we take, and just as importantly what we refuse. A moodboard that only says "I like this" produces pastiche. A moodboard that says "I take this one decision and reject that one" produces a system.
- [Prior art](https://lopifi.com/md/docs/03-prior-art): You asked whether something like this already exists. Short answer: finance templates exist; a finance primitive system does not.
- [Product teardowns](https://lopifi.com/md/docs/04-product-teardowns): The moodboard establishes the visual register. This document is the operating layer: how the products in this category actually behave, product by product, with a specific extraction from each.
- [Standards and sources](https://lopifi.com/md/docs/05-standards): What this system implements is mostly not its own invention. These are the standards the rules come from, what is taken from each, and where a claim here is an opinion rather than a citation.
- [Registry & distribution](https://lopifi.com/md/docs/architecture/01-registry-and-distribution): Lopifi distributes through the shadcn registry protocol. Components are copied into the consumer's repo; they own the code from that moment.
- [Repo & conventions](https://lopifi.com/md/docs/architecture/02-repo-and-conventions): Tokens are named by role, never by value. --text-secondary, not --gray-600; --positive, not --green. A value-named token can't be re-themed and can't be renamed without a breaking change.
- [Cross-references & the shape of the site](https://lopifi.com/md/docs/architecture/03-cross-references): The documentation is not a set of pages. It is one hypertext with six views over it — the docs, the glossary, the component catalog, the toolbelt, the API object model and the live showcase — and every one of those views is generated from the same files in docs/ and src/.
- [Brand identity](https://lopifi.com/md/docs/brand/01-identity): The Lopifi mark, wordmark, colour, voice and motion. If the two disagree, this document wins. Everything on this page is derived from something the system already believes. The brand does not add a decoration the product does not have.
- [Component catalog](https://lopifi.com/md/docs/catalog/00-index): 179 components across 13 families. The complete accounting and finance stack. Families 1–8 are the design layer — primitives, surfaces, tables, charts. Families 9–13 are the domain layer — the general ledger, receivables, payables, the close, controls, consolidation, and metrics. The domain layer is
- [Primitives](https://lopifi.com/md/docs/catalog/01-primitives): Build these first. Everything above them inherits their mistakes. Specs for 15 React components: Money, Delta, Figure, Percent and 11 more.
- [Cards](https://lopifi.com/md/docs/catalog/02-cards): All cards: 24px radius, 24px inset, --surface on --canvas, 1px --border, no resting shadow. Specs for 10 React components: BalanceCard, KpiCard, AccountCard, PaymentMethodCard and 6 more.
- [Payments](https://lopifi.com/md/docs/catalog/03-payments): Payments — specs for 14 React components: AmountInput, CurrencySelect, PayeeSelect, PaymentForm and 10 more.
- [Swaps & FX](https://lopifi.com/md/docs/catalog/04-swaps-fx): The governing rule for this entire family: A rate is a perishable fact. It never appears without a timestamp, and it is never transacted on without a lock. Specs for 9 React components: SwapWidget, RateLine, RateLock, ConversionBreakdown and 5 more.
- [Ledger & tables](https://lopifi.com/md/docs/catalog/05-ledger-tables): The table is the product. It gets the same design investment as the hero card. Specs for 15 React components: TransactionTable, TransactionRow, TransactionCard, TransactionDetail and 11 more.
- [Statements](https://lopifi.com/md/docs/catalog/06-statements): The largest gap in the market. No component library ships a <BalanceSheet />. This family is the reason Lopifi exists. Specs for 12 React components: StatementTable, StatementRow, ProfitAndLoss, BalanceSheet and 8 more.
- [Dashboard & charts](https://lopifi.com/md/docs/catalog/07-dashboard-charts): We wrap a charting engine (Recharts, or visx where more control is needed). We do not rebuild one. What we add is everything a chart library doesn't know about money. Specs for 11 React components: DashboardShell, KpiRow, MoneyChart, MoneyBarChart and 7 more.
- [System & states](https://lopifi.com/md/docs/catalog/08-system-states): The states that decide whether a product feels finished. Specs for 9 React components: EmptyState, ErrorState, Skeleton, StaleIndicator and 5 more.
- [Accounting core (GL)](https://lopifi.com/md/docs/catalog/09-accounting-core): The general ledger layer. Specs for 18 React components: JournalEntry, JournalEntryForm, JournalEntryTable, AccountPicker and 14 more.
- [Receivables (AR)](https://lopifi.com/md/docs/catalog/10-receivables): Receivables (AR) — specs for 13 React components: InvoiceForm, InvoiceDetail, InvoiceRegister, CashApplication and 9 more.
- [Payables (AP)](https://lopifi.com/md/docs/catalog/11-payables): Payables (AP) — specs for 16 React components: BillForm, BillDetail, BillRegister, DuplicateBillAlert and 12 more.
- [Close, controls & consolidation](https://lopifi.com/md/docs/catalog/12-close-controls-consolidation): Close, controls & consolidation — specs for 24 React components: PeriodStatus, CutoffWarning, CloseStatus, AuditTrail and 20 more.
- [Metrics & analysis](https://lopifi.com/md/docs/catalog/13-metrics-and-analysis): Metrics & analysis — specs for 12 React components: MetricDefinition, NonGaapReconciliation, MrrBridge, BudgetVsActual and 8 more.
- [Component anatomy](https://lopifi.com/md/docs/craft/01-component-anatomy): Every Lopifi component ships with this spec, filled in, in the order below. The order is the point: you cannot choose a font size on line 1, because layer 4 doesn't exist yet.
- [Accessibility](https://lopifi.com/md/docs/craft/02-accessibility): Priority ladder from ui-skills/fixing-accessibility, with the finance-specific rules that generic guidance doesn't cover.
- [Quality bar](https://lopifi.com/md/docs/craft/03-quality-bar): The ship gate for a Lopifi component: baseline UI, motion, accessibility, accounting correctness, edge cases and field performance, every box checked.
- [Responsive & input](https://lopifi.com/md/docs/craft/04-responsive-and-input): The details matter most here. A financial interface has more content than any other product category — twelve columns, four periods, nested hierarchy — and it has to be fully usable on a phone held one-handed on a train and on a 13" laptop with a trackpad.
- [The accounting model](https://lopifi.com/md/docs/domain/01-accounting-model): Every component in Lopifi sits on top of one data model. If the model is wrong, no amount of design saves the product. This document is the model.
- [Periods & the close](https://lopifi.com/md/docs/domain/02-periods-and-close): The month-end close in accounting software: fiscal calendars, period states, cutoff, reconciliation vs tie-out, adjusting entries and restatement.
- [Statement semantics](https://lopifi.com/md/docs/domain/03-statement-semantics): What each statement means, how it's structured, and what the components must therefore enforce.
- [Schedules, accruals & roll-forwards](https://lopifi.com/md/docs/domain/04-schedules-and-accruals): The supporting evidence layer. Every balance sheet account needs a schedule behind it, and the schedule must tie.
- [Order to cash (AR)](https://lopifi.com/md/docs/domain/05-order-to-cash): The complete receivables stack: quote → order → fulfilment → invoice → collection → cash application → revenue.
- [Procure to pay (AP)](https://lopifi.com/md/docs/domain/06-procure-to-pay): The complete payables stack: requisition → PO → receipt → bill → approval → payment → reconciliation. AP is where fraud happens and where controls matter most. The design consequence: Every AP screen is a control surface. Approval, segregation of duties, and duplicate detection are not features bolt
- [Cash & treasury](https://lopifi.com/md/docs/domain/07-cash-and-treasury): Cash is the only balance sheet account with an independent third party asserting what it should be. That makes it both the most verifiable account and the one where a break matters most.
- [Controls & audit](https://lopifi.com/md/docs/domain/08-controls-and-audit): Accounting software is not a database with forms on top. It is a system of controls, and the UI is where most of those controls are actually enforced.
- [Multi-entity & FX](https://lopifi.com/md/docs/domain/09-multi-entity-and-fx): Consolidation and currency are where finance UIs quietly produce wrong numbers, because both involve summing things that look summable and aren't.
- [Metric definitions](https://lopifi.com/md/docs/domain/10-metrics): Every metric in this system ships with its formula, its period, its inputs, and its source. A KPI without a definition is a number people argue about in meetings.
- [Lexicon](https://lopifi.com/md/docs/domain/11-lexicon): One word per concept, used identically in code, UI copy, and documentation. Terminology drift is the fastest way to make a financial product feel amateur to the people who use it professionally.
- [Lopifi APIs: Xero, QuickBooks Online, NetSuite](https://lopifi.com/md/docs/domain/12-ledger-apis): Three general ledgers, three different opinions about what an invoice is. This document compares them object by object, so a component built on one does not quietly break on another.
- [US GAAP, and where these rules come from](https://lopifi.com/md/docs/domain/13-us-gaap): This system states a lot of accounting rules. Revenue is earned on delivery. Depreciation allocates cost rather than measuring value. A statement of cash flows has three sections and reconciles to the change in cash. A posted entry is reversed, never edited.
- [Grid & layout](https://lopifi.com/md/docs/foundations/01-grid-and-layout): Every component in Lopifi is designed in four layers, in order. You do not skip ahead. Layer 4 (the actual type) is the last decision, not the first — which is why the system stays coherent when a new component is added by someone who wasn't in the original room.
- [Shape & radius](https://lopifi.com/md/docs/foundations/02-shape-and-radius): 24px radius. 24px inset. That pairing is the signature of the system, and everything else derives from it.
- [Color](https://lopifi.com/md/docs/foundations/03-color): Grayscale first. Color is added only where it carries meaning, and in a financial interface almost nothing does.
- [Elevation, borders & shadows](https://lopifi.com/md/docs/foundations/04-elevation-borders-shadows): The single most opinionated decision in Lopifi: At rest, a surface is defined by a hairline. A shadow means the thing is actually floating.
- [Typography](https://lopifi.com/md/docs/foundations/05-typography): Two families. Three sizes and three weights per component. That constraint is not minimalism for its own sake — it is what forces hierarchy to come from contrast rather than from variety.
- [Numerics](https://lopifi.com/md/docs/foundations/06-numerics): The document that makes this a finance system rather than a dashboard kit. Everything here is a rule the rest of the library enforces on the consumer's behalf.
- [Icons & microcopy](https://lopifi.com/md/docs/foundations/07-icons-and-microcopy): Lucide, 1.5px stroke, at 16 / 20 / 24. It's shadcn's default, it's MIT, it's comprehensive, and its optical grid matches Inter's rhythm.
- [Imagery, isometric & visual hierarchy](https://lopifi.com/md/docs/foundations/08-imagery-and-isometric): Lopifi has almost no imagery inside its data surfaces. Where it does — empty states, onboarding, concepts, brand marks — isometric explains a mechanism.
- [How to format money in React](https://lopifi.com/md/docs/guides/01-format-money-in-react): Currency formatting looks like a solved problem until the first JPY amount, the first negative, and the first value you do not have. This is the whole method, in the order the bugs arrive.
- [Negative numbers in a financial table](https://lopifi.com/md/docs/guides/02-negative-numbers-in-financial-tables): Parentheses instead of a minus sign, the real minus where a sign is right, and the column that stays aligned when the sign changes. Three rules, one of which almost nobody implements.
- [How to align numbers in a table](https://lopifi.com/md/docs/guides/03-align-numbers-in-a-table): Right-aligned is not aligned. Tabular figures, case-shifted parentheses, decimal alignment, a reserved sign column and rules that carry the arithmetic.
- [How to build a general ledger table in React](https://lopifi.com/md/docs/guides/04-build-a-general-ledger-table): The data grid is the easy part. What makes a ledger table a ledger table is two amount columns, a visible balance check, and an entry you can reverse but never edit.
- [Choosing a React component library for finance software](https://lopifi.com/md/docs/guides/05-choose-a-finance-component-library): There are good dashboard kits, good data grids and good fintech templates. There is very little that knows what a currency is. This is the honest comparison, including where you should not use this one.
- [Motion principles](https://lopifi.com/md/docs/motion/01-principles): Lopifi's motion doctrine is Emil Kowalski's animation framework, plus the performance rules from ui-skills, plus two laws specific to money.
- [Motion tokens](https://lopifi.com/md/docs/motion/02-tokens): Every animation in Lopifi uses a token. Ad-hoc durations and inline cubic-béziers are a review failure — see quality bar.
- [Motion catalog](https://lopifi.com/md/docs/motion/03-catalog): Every animation in Lopifi, specified. Each entry states its frequency tier (which is what licenses it), its purpose (one of the five), and its exact values.
- [Roadmap](https://lopifi.com/md/docs/roadmap): Build order is deliberate. Each milestone proves something the next depends on.
- [Lopifi Tools — the accountant's toolbelt](https://lopifi.com/md/docs/tools/00-tools-spec): A Chrome extension (MV3) and a matching /tools section on the docs site. Same engine, two surfaces. Local only by default: nothing leaves the machine, no account, no server, no telemetry. AI runs on Chrome's built-in models — Gemini Nano behind LanguageModel, Summarizer and Proofreader, an on-device

## Components

- [Money](https://lopifi.com/md/components/money): The core primitive. A monetary value, formatted correctly.
- [Delta](https://lopifi.com/md/components/delta): A signed change, with polarity and a redundant non-color cue.
- [Figure](https://lopifi.com/md/components/figure): A large display numeral with automatic size step-down.
- [Percent](https://lopifi.com/md/components/percent): Percent vs. percentage points, explicitly discriminated.
- [Rule](https://lopifi.com/md/components/rule): Single / double / section accounting rule lines.
- [StatusPill](https://lopifi.com/md/components/status-pill): Payment and reconciliation states.
- [Sparkline](https://lopifi.com/md/components/sparkline): Inline trend, one-shot draw.
- [Trend](https://lopifi.com/md/components/trend): Arrow + delta + optional sparkline, composed.
- [AsOf](https://lopifi.com/md/components/as-of): Timestamp with live relative formatting and a stated timezone.
- [Redacted](https://lopifi.com/md/components/redacted): Masked value with reveal.
- [Reference](https://lopifi.com/md/components/reference): Copyable transaction/account ID with disambiguated glyphs.
- [CurrencyBadge](https://lopifi.com/md/components/currency-badge): ISO code + optional flag.
- [EntityMark](https://lopifi.com/md/components/entity-mark): Bank/merchant logo with the full fallback ladder.
- [Tooltip](https://lopifi.com/md/components/tooltip): Hover/focus restatement. Never the only home of a fact.
- [InfoTip](https://lopifi.com/md/components/info-tip): The ⓘ. Extra context that survives touch, because it opens on press.
- [BalanceCard](https://lopifi.com/md/components/balance-card): The hero: one trusted number.
- [KpiCard](https://lopifi.com/md/components/kpi-card): Metric + delta + optional sparkline.
- [AccountCard](https://lopifi.com/md/components/account-card): Bank account with available vs. current.
- [PaymentMethodCard](https://lopifi.com/md/components/payment-method-card): The physical card object. 3D flip, pointer tilt.
- [RunwayCard](https://lopifi.com/md/components/runway-card): Months of runway with a burn line.
- [InvoiceCard](https://lopifi.com/md/components/invoice-card): Invoice summary with aging state.
- [SubscriptionCard](https://lopifi.com/md/components/subscription-card): Recurring charge with next-billing.
- [AnomalyCard](https://lopifi.com/md/components/anomaly-card): A flagged deviation with its explanation.
- [GoalCard](https://lopifi.com/md/components/goal-card): Target vs. actual with a progress rule.
- [StatCard](https://lopifi.com/md/components/stat-card): The minimal label+value card.
- [AmountInput](https://lopifi.com/md/components/amount-input): The hardest input in fintech.
- [CurrencySelect](https://lopifi.com/md/components/currency-select): Searchable, with recents.
- [PayeeSelect](https://lopifi.com/md/components/payee-select): Recipient picker with fuzzy search and last-paid.
- [PaymentForm](https://lopifi.com/md/components/payment-form): Amount → payee → method → date → memo.
- [PaymentMethodList](https://lopifi.com/md/components/payment-method-list): Selectable method cards.
- [CheckoutSummary](https://lopifi.com/md/components/checkout-summary): Itemized total with fees and tax.
- [ConfirmPaymentDialog](https://lopifi.com/md/components/confirm-payment-dialog): Amount, destination, timing. Hold-to-confirm.
- [PaymentStatusTimeline](https://lopifi.com/md/components/payment-status-timeline): Submitted → sent → settled, with real timestamps.
- [PaymentSuccess](https://lopifi.com/md/components/payment-success): The sanctioned delight moment.
- [ReceiptSheet](https://lopifi.com/md/components/receipt-sheet): Printable/shareable receipt.
- [PayoutSchedule](https://lopifi.com/md/components/payout-schedule): Upcoming payouts calendar.
- [CardInput](https://lopifi.com/md/components/card-input): PAN / expiry / CVC with correct autocomplete.
- [BankAccountInput](https://lopifi.com/md/components/bank-account-input): Routing + account with checksum validation.
- [RecurringSchedule](https://lopifi.com/md/components/recurring-schedule): Frequency, end condition, preview of next 3.
- [SwapWidget](https://lopifi.com/md/components/swap-widget): From/to with the flip. The signature component.
- [RateLine](https://lopifi.com/md/components/rate-line): A rate with its timestamp. Never one without the other.
- [RateLock](https://lopifi.com/md/components/rate-lock): Locked rate with a countdown and expiry behavior.
- [ConversionBreakdown](https://lopifi.com/md/components/conversion-breakdown): Amount → fee → rate → recipient gets. Every line.
- [CurrencyPairChart](https://lopifi.com/md/components/currency-pair-chart): Rate history with a period selector.
- [RateTicker](https://lopifi.com/md/components/rate-ticker): Live multi-pair ticker with value flash.
- [SlippageControl](https://lopifi.com/md/components/slippage-control): Tolerance setting with an explicit worst case.
- [SwapRoute](https://lopifi.com/md/components/swap-route): Multi-hop path visualization.
- [FxExposure](https://lopifi.com/md/components/fx-exposure): Position by currency with unrealized gain/loss.
- [TransactionTable](https://lopifi.com/md/components/transaction-table): The workhorse. Virtualized, sticky, priority-collapsing.
- [TransactionRow](https://lopifi.com/md/components/transaction-row): Desktop row.
- [TransactionCard](https://lopifi.com/md/components/transaction-card): The mobile re-rank.
- [TransactionDetail](https://lopifi.com/md/components/transaction-detail): Full detail sheet with attachments and audit trail.
- [LedgerTable](https://lopifi.com/md/components/ledger-table): Double-entry with debit/credit columns and a balance check.
- [AgingTable](https://lopifi.com/md/components/aging-table): AR/AP buckets, 0-30-60-90+.
- [ReconciliationView](https://lopifi.com/md/components/reconciliation-view): Two-pane matcher. The match animation.
- [CategoryPicker](https://lopifi.com/md/components/category-picker): Hierarchical with rule creation.
- [FilterBar](https://lopifi.com/md/components/filter-bar): URL-param-backed filters with resolved-value chips.
- [BulkActionBar](https://lopifi.com/md/components/bulk-action-bar): Selection count + actions, safe-area aware.
- [ColumnManager](https://lopifi.com/md/components/column-manager): Show/hide/reorder with drag.
- [GroupPicker](https://lopifi.com/md/components/group-picker): One cut through a table, with subtotals per group.
- [ExportMenu](https://lopifi.com/md/components/export-menu): CSV/XLSX/PDF with a stated scope.
- [TableColumns](https://lopifi.com/md/components/table-columns): Sort and resize for a table that renders on the server.
- [ColumnHeader](https://lopifi.com/md/components/column-header): The sortable, draggable header cell.
- [PeriodGrid](https://lopifi.com/md/components/period-grid): The ruled grid. Frozen panes, hidden columns, hover change, ⌘C.
- [StatementTable](https://lopifi.com/md/components/statement-table): The shared shell: hierarchy, periods, rules.
- [StatementRow](https://lopifi.com/md/components/statement-row): Indent level, subtotal, total, expand.
- [ProfitAndLoss](https://lopifi.com/md/components/profit-and-loss): P&L with period comparison and variance.
- [BalanceSheet](https://lopifi.com/md/components/balance-sheet): Assets / liabilities / equity, with the balance check.
- [CashFlowStatement](https://lopifi.com/md/components/cash-flow-statement): Operating / investing / financing.
- [StatementToolbar](https://lopifi.com/md/components/statement-toolbar): Basis, period, comparison, currency, consolidation.
- [PeriodPicker](https://lopifi.com/md/components/period-picker): Fiscal-aware. Never assumes January.
- [VarianceCell](https://lopifi.com/md/components/variance-cell): Absolute + percent + significance flag.
- [FluxAnalysis](https://lopifi.com/md/components/flux-analysis): Period-over-period explanations.
- [DrilldownSheet](https://lopifi.com/md/components/drilldown-sheet): Statement line → the GL entries behind it.
- [TrialBalance](https://lopifi.com/md/components/trial-balance): All accounts with the debit=credit proof.
- [CloseChecklist](https://lopifi.com/md/components/close-checklist): Tasks, owners, blockers, sign-off.
- [DashboardShell](https://lopifi.com/md/components/dashboard-shell): Responsive grid with optional rearrange.
- [KpiRow](https://lopifi.com/md/components/kpi-row): 2–4 KPI cards with aligned baselines.
- [MoneyChart](https://lopifi.com/md/components/money-chart): Line/area with a money axis and negative-aware baseline.
- [MoneyBarChart](https://lopifi.com/md/components/money-bar-chart): Grouped/stacked, zero-baseline origin, hatched negatives.
- [WaterfallChart](https://lopifi.com/md/components/waterfall-chart): The P&L bridge. Essential and rare.
- [CategoryBreakdown](https://lopifi.com/md/components/category-breakdown): Ranked bars, not a pie.
- [CashCalendar](https://lopifi.com/md/components/cash-calendar): Daily heatmap of cash movement.
- [CandlestickChart](https://lopifi.com/md/components/candlestick-chart): For FX/crypto pairs.
- [ChartLegend](https://lopifi.com/md/components/chart-legend): Interactive, keyboard-navigable.
- [ChartTooltip](https://lopifi.com/md/components/chart-tooltip): Touch-persistent readout.
- [DataTableToggle](https://lopifi.com/md/components/data-table-toggle): Every chart's accessible table equivalent.
- [EmptyState](https://lopifi.com/md/components/empty-state): Three variants. Always one next action.
- [ErrorState](https://lopifi.com/md/components/error-state): With the financial reassurance sentence.
- [Skeleton](https://lopifi.com/md/components/skeleton): Structural, per-component.
- [StaleIndicator](https://lopifi.com/md/components/stale-indicator): Last-synced + retry.
- [Toast](https://lopifi.com/md/components/toast): Sonner, configured to our tokens.
- [CommandPalette](https://lopifi.com/md/components/command-palette): Motionless. Money-aware search.
- [Sheet](https://lopifi.com/md/components/sheet): Vaul, configured. The mobile primary overlay.
- [HoldToConfirm](https://lopifi.com/md/components/hold-to-confirm): Irreversible actions, with accessible fallbacks.
- [DensityToggle](https://lopifi.com/md/components/density-toggle): Persisted, synced, phone-clamped.
- [JournalEntry](https://lopifi.com/md/components/journal-entry): Debit and credit as two columns. No signed-column variant.
- [JournalEntryForm](https://lopifi.com/md/components/journal-entry-form): Line grid with live balance check and dimension capture.
- [JournalEntryTable](https://lopifi.com/md/components/journal-entry-table): All entries, with the gapless-numbering check.
- [AccountPicker](https://lopifi.com/md/components/account-picker): Shows the normal balance. Blocks non-postable accounts.
- [ChartOfAccounts](https://lopifi.com/md/components/chart-of-accounts): Hierarchy, statement mapping, unsupported-account flags.
- [AccountRegister](https://lopifi.com/md/components/account-register): GL detail with a running balance.
- [DimensionPicker](https://lopifi.com/md/components/dimension-picker): Entity always required; renders what the account demands.
- [AdjustingEntryForm](https://lopifi.com/md/components/adjusting-entry-form): Templated by type. Auto-reverse defaults on for accruals.
- [RecurringEntryTemplate](https://lopifi.com/md/components/recurring-entry-template): Template editable; instances read-only.
- [EntryReversalDialog](https://lopifi.com/md/components/entry-reversal-dialog): Hold-to-confirm. Never a delete.
- [ScheduleTable](https://lopifi.com/md/components/schedule-table): One shell, seven presets. Prepaids through debt.
- [RollForward](https://lopifi.com/md/components/roll-forward): Opening → movements → closing → tie. The universal shape.
- [AccountTieOut](https://lopifi.com/md/components/account-tie-out): Every BS account, proven against its evidence.
- [SchedulePreview](https://lopifi.com/md/components/schedule-preview): What the schedules will post, before they post.
- [RevenueWaterfall](https://lopifi.com/md/components/revenue-waterfall): Deferred balance recognizing by future period.
- [DepreciationSchedule](https://lopifi.com/md/components/depreciation-schedule): Book and tax in parallel. In-service date, not purchase date.
- [LeaseSchedule](https://lopifi.com/md/components/lease-schedule): ROU asset and liability on diverging curves.
- [AllowanceRollForward](https://lopifi.com/md/components/allowance-roll-forward): With the methodology shown, not just the number.
- [InvoiceForm](https://lopifi.com/md/components/invoice-form): With the revenue-recognition preview per line.
- [InvoiceDetail](https://lopifi.com/md/components/invoice-detail): Balance due as the hero, not total.
- [InvoiceRegister](https://lopifi.com/md/components/invoice-register): Gapless-numbering check surfaced.
- [CashApplication](https://lopifi.com/md/components/cash-application): The highest-value screen in AR. Every case, not just the happy one.
- [PaymentSuggestion](https://lopifi.com/md/components/payment-suggestion): Invoice combinations summing exactly to a lump sum.
- [UnappliedCashPanel](https://lopifi.com/md/components/unapplied-cash-panel): Never revenue; net credit balances flagged as liabilities.
- [CreditNoteForm](https://lopifi.com/md/components/credit-note-form): Distinct from a refund and from a write-off.
- [CollectionsWorklist](https://lopifi.com/md/components/collections-worklist): Promise-to-pay as a first-class object.
- [DunningTimeline](https://lopifi.com/md/components/dunning-timeline): Per customer, not per invoice.
- [CustomerStatement](https://lopifi.com/md/components/customer-statement): Printable. Print styles are first-class.
- [CustomerCreditPanel](https://lopifi.com/md/components/customer-credit-panel): Limit and exposure together, with hierarchy roll-up.
- [SalesOrderTable](https://lopifi.com/md/components/sales-order-table): Backlog, visually separated from ledger-derived numbers.
- [ArMetricsPanel](https://lopifi.com/md/components/ar-metrics-panel): DSO with its method stated.
- [BillForm](https://lopifi.com/md/components/bill-form): Per-line coding, required evidence, discount ROI surfaced.
- [BillDetail](https://lopifi.com/md/components/bill-detail): Source document inline beside the coding.
- [BillRegister](https://lopifi.com/md/components/bill-register): Aging and approval state.
- [DuplicateBillAlert](https://lopifi.com/md/components/duplicate-bill-alert): Blocking. Duplicate payment is the most common AP loss.
- [ThreeWayMatch](https://lopifi.com/md/components/three-way-match): Line-level variances, not header totals.
- [MatchExceptionQueue](https://lopifi.com/md/components/match-exception-queue): The clerk's worklist.
- [ApprovalChain](https://lopifi.com/md/components/approval-chain): Segregation of duties enforced. Approvals bind to a version.
- [ApprovalInbox](https://lopifi.com/md/components/approval-inbox): Mobile-first, document inline.
- [PaymentRunBuilder](https://lopifi.com/md/components/payment-run-builder): Shows the cash balance remaining after the run.
- [PaymentRunPreview](https://lopifi.com/md/components/payment-run-preview): Hold-to-confirm. Partial failure is a first-class state.
- [CashRequirements](https://lopifi.com/md/components/cash-requirements): Due in 7/14/30 vs. available, payroll broken out.
- [VendorMaster](https://lopifi.com/md/components/vendor-master): Bank details versioned, never overwritten.
- [BankDetailChangeAlert](https://lopifi.com/md/components/bank-detail-change-alert): The fraud-prevention surface.
- [ExpenseCapture](https://lopifi.com/md/components/expense-capture): Camera-first, policy violations shown at entry.
- [CardTransactionMatch](https://lopifi.com/md/components/card-transaction-match): Matched to receipts, never re-entered.
- [UninvoicedReceiptsReport](https://lopifi.com/md/components/uninvoiced-receipts-report): GR/IR aging. The evidence for the period-end accrual.
- [PeriodStatus](https://lopifi.com/md/components/period-status): State, provenance, and the next action.
- [CutoffWarning](https://lopifi.com/md/components/cutoff-warning): Inline, with both legitimate remedies named.
- [CloseStatus](https://lopifi.com/md/components/close-status): The seven-section gated pipeline.
- [AuditTrail](https://lopifi.com/md/components/audit-trail): Field-level diffs on every financial object.
- [EvidencePanel](https://lopifi.com/md/components/evidence-panel): Inline rendering, content hash, never deleted.
- [IntegrityCheckPanel](https://lopifi.com/md/components/integrity-check-panel): Eleven continuous assertions. A failure owns the screen.
- [MaterialityPolicy](https://lopifi.com/md/components/materiality-policy): Both thresholds must be exceeded. Threshold displayed.
- [ApprovalPolicyEditor](https://lopifi.com/md/components/approval-policy-editor): Separate-approver shown as fixed, not a toggle.
- [RoleMatrix](https://lopifi.com/md/components/role-matrix): Controller ≠ Treasurer. Admin cannot transact.
- [SubsequentEventLog](https://lopifi.com/md/components/subsequent-event-log): Adjusting vs. non-adjusting, decision recorded.
- [RestatementBanner](https://lopifi.com/md/components/restatement-banner): Marks a restated comparative everywhere.
- [AuditorMode](https://lopifi.com/md/components/auditor-mode): Read-only server-side, scope immutable, itself audited.
- [SamplingTool](https://lopifi.com/md/components/sampling-tool): Method and seed recorded — reproducible selection.
- [EvidenceBundle](https://lopifi.com/md/components/evidence-bundle): Entries + documents + approvals + trail, with a manifest.
- [EntitySelector](https://lopifi.com/md/components/entity-selector): Explicit scope. Standalone vs. consolidated visually distinct.
- [ConsolidationView](https://lopifi.com/md/components/consolidation-view): Entity columns, eliminations, NCI, group total.
- [IntercompanyMatrix](https://lopifi.com/md/components/intercompany-matrix): Must net to zero. Break types named.
- [EliminationEntry](https://lopifi.com/md/components/elimination-entry): Consolidation-level only, boundary visible.
- [NciPanel](https://lopifi.com/md/components/nci-panel): On both statements.
- [TranslationSummary](https://lopifi.com/md/components/translation-summary): Rates by type, with sources and methodology.
- [CtaRollForward](https://lopifi.com/md/components/cta-roll-forward): Its own equity line, never buried.
- [FxRevaluation](https://lopifi.com/md/components/fx-revaluation): Monetary items only, derived from classification.
- [FxGainLossPanel](https://lopifi.com/md/components/fx-gain-loss-panel): Realized and unrealized never combined.
- [RateTable](https://lopifi.com/md/components/rate-table): Rate type is not optional. A missing rate blocks.
- [MetricDefinition](https://lopifi.com/md/components/metric-definition): Every metric requires one. Formula with values substituted.
- [NonGaapReconciliation](https://lopifi.com/md/components/non-gaap-reconciliation): EBITDA below net income, every adjustment named.
- [MrrBridge](https://lopifi.com/md/components/mrr-bridge): The movement, not a single number with a percentage.
- [BudgetVsActual](https://lopifi.com/md/components/budget-vs-actual): Polarity-aware, materiality-filtered, versions tracked.
- [ForecastTable](https://lopifi.com/md/components/forecast-table): Projections dashed and labeled everywhere.
- [CovenantMonitor](https://lopifi.com/md/components/covenant-monitor): The contractual definition, not the generic one.
- [KpiHealthStrip](https://lopifi.com/md/components/kpi-health-strip): Provisional marking for pre-close numbers.
- [RevenueTracker](https://lopifi.com/md/components/revenue-tracker): Revenue by stream, with mix, growth and concentration.
- [ExpenseTracker](https://lopifi.com/md/components/expense-tracker): Spend by category on three bases. Polarity derived per row from the sign convention.
- [DriverModel](https://lopifi.com/md/components/driver-model): The inputs a forecast is built from, and what they produce.
- [ScenarioCompare](https://lopifi.com/md/components/scenario-compare): Scenarios side by side, all measured against the base.
- [PlByDimension](https://lopifi.com/md/components/pl-by-dimension): The P&L cut by department, entity or product.

## Glossary

- [83(b) election](https://lopifi.com/md/glossary/83-b-election): An election, filed with the IRS within 30 days of receiving restricted stock, to be taxed on its value at grant rather than as it vests — at a founder's purchase price, usually no tax at all, and the capital gain holding period starts at once
- [ABC test](https://lopifi.com/md/glossary/abc-test): A state test presuming a worker is an employee unless the hiring entity proves all three: (A) free from its control, (B) work outside the usual course of its business, and (C) customarily engaged in an independent trade — California (AB 5), Massachusetts, and New Jersey for unemployment
- [Account](https://lopifi.com/md/glossary/account): A GL account in the chart of accounts. Always qualify when a bank account is meant.
- [Accounting equation](https://lopifi.com/md/glossary/accounting-equation): Assets = liabilities + equity. True after every single entry, not just at period end.
- [Accounts payable](https://lopifi.com/md/glossary/accounts-payable): What we owe vendors for bills already received
- [Accounts receivable](https://lopifi.com/md/glossary/accounts-receivable): What customers owe us for invoices already issued
- [Accrual](https://lopifi.com/md/glossary/accrual): An expense incurred, or revenue earned, before it is invoiced — recorded at period end so it lands in the right period
- [Accrual basis](https://lopifi.com/md/glossary/accrual-basis): Recognizing revenue when earned and expense when incurred, regardless of when cash moves
- [Accrued liability](https://lopifi.com/md/glossary/accrued-liability): An obligation for goods or services received but not yet invoiced or paid — wages, interest, professional fees — recorded by an accrual
- [Accrued revenue](https://lopifi.com/md/glossary/accrued-revenue): Revenue earned and recognized before it is invoiced. ASC 606 splits it: an unbilled receivable where only time stands between it and payment, a contract asset where the right still depends on further performance
- [Accumulated deficit](https://lopifi.com/md/glossary/accumulated-deficit): Retained earnings below zero — cumulative losses exceeding cumulative earnings, presented as a negative within equity, as at almost every venture-funded startup
- [ACH](https://lopifi.com/md/glossary/ach): The Automated Clearing House network — the US batch system for electronic credits and debits under Nacha rules; same-day to two-day settlement, with limited return rights
- [Adjusting entry](https://lopifi.com/md/glossary/adjusting-entry): A close entry to apply accrual accounting
- [Aging](https://lopifi.com/md/glossary/aging): Grouping open receivables or payables into buckets by days past due date — current, 1–30, 31–60, 61–90, 90+
- [Allowance for credit losses](https://lopifi.com/md/glossary/allowance-for-credit-losses): The contra-asset holding the expected credit losses on receivables, so AR is presented at the amount expected to be collected
- [Amortization](https://lopifi.com/md/glossary/amortization): Spreading the cost of a finite-lived intangible, a prepaid or a debt discount over the periods it serves
- [Application](https://lopifi.com/md/glossary/application): Assigning received cash to specific invoices
- [Apportionment](https://lopifi.com/md/glossary/apportionment): Dividing a multistate business's taxable income among states by formula — historically property, payroll and sales; now in most states the sales factor alone
- [Approval](https://lopifi.com/md/glossary/approval): Formal authorization of a specific version
- [ARPA](https://lopifi.com/md/glossary/arpa): ARPA is a unit-economics metric, calculated as MRR ÷ Active customers, per month.
- [ARR](https://lopifi.com/md/glossary/arr): ARR is a recurring-revenue metric, calculated as MRR × 12.
- [As at](https://lopifi.com/md/glossary/as-at): The point-in-time label for a balance sheet
- [Asset](https://lopifi.com/md/glossary/asset): A present right of the entity to an economic benefit (FASB CON 8 ¶E16)
- [Assumed par value capital method](https://lopifi.com/md/glossary/assumed-par-value-capital-method): The alternative Delaware franchise tax calculation: assumed par (total gross assets ÷ issued shares) times authorized shares, taxed at $400 per $1,000,000, minimum $400 — usually far below the authorized shares method for a startup with millions of authorized shares
- [Audit trail](https://lopifi.com/md/glossary/audit-trail): The immutable record of every state change
- [Available balance](https://lopifi.com/md/glossary/available-balance): Spendable now
- [Average rate](https://lopifi.com/md/glossary/average-rate): An average of exchange rates over the period, used as a practical proxy for transaction-date rates when translating income and expenses — its method stated
- [Backup withholding](https://lopifi.com/md/glossary/backup-withholding): Federal income tax a payer must withhold at 24% from reportable payments — contractor fees, interest, dividends, card settlements — when the payee has not given a correct TIN or the IRS has notified the payer to withhold. Deposited and reported on Form 945
- [Bad debt expense](https://lopifi.com/md/glossary/bad-debt-expense): The P&L charge that builds the allowance for credit losses — the provision, not the write-off
- [Balance sheet](https://lopifi.com/md/glossary/balance-sheet): Assets, liabilities and equity at a point in time, proving the accounting equation
- [Bank-posted](https://lopifi.com/md/glossary/bank-posted): Recorded by the bank (distinct from posting an entry to the ledger)
- [Basis](https://lopifi.com/md/glossary/basis): Cash or accrual
- [Bill](https://lopifi.com/md/glossary/bill): A claim against us
- [Bonus depreciation](https://lopifi.com/md/glossary/bonus-depreciation): Additional first-year tax depreciation under §168(k) — 100%, permanently, for qualified property acquired after 19 January 2025 under the OBBBA. Not limited to taxable income, so it can create an NOL; book depreciation is unaffected, creating a temporary difference
- [Breakage](https://lopifi.com/md/glossary/breakage): The portion of a prepaid right a customer is expected never to exercise — unused gift card balances, unredeemed credits. Recognized in proportion to the pattern of redemption if the entity expects breakage; otherwise when redemption becomes remote. Amounts owed to a state under unclaimed property law are a liability, not revenue
- [Burn multiple](https://lopifi.com/md/glossary/burn-multiple): Burn multiple is a cash and runway metric, calculated as Net burn ÷ Net new ARR, over the same period.
- [CAC](https://lopifi.com/md/glossary/cac): CAC is a unit-economics metric, calculated as Sales & marketing spend ÷ new customers.
- [CAC payback](https://lopifi.com/md/glossary/cac-payback): CAC payback is a unit-economics metric, calculated as CAC ÷ (Monthly ARPA × Gross margin), in months.
- [Capital expenditure](https://lopifi.com/md/glossary/capital-expenditure): Cash spent acquiring or improving long-lived assets in the period — the investing outflow free cash flow subtracts
- [Capitalization](https://lopifi.com/md/glossary/capitalization): Recording a cost as an asset rather than an expense because it brings a future benefit — then allocated to expense over that benefit
- [Cash basis](https://lopifi.com/md/glossary/cash-basis): Recognizing revenue and expense only when cash moves. Not GAAP for any entity — it is a special purpose framework (AICPA AU-C 800), and for tax a method IRS Pub. 538 and IRC §448 limit by entity type and gross receipts
- [Cash equivalents](https://lopifi.com/md/glossary/cash-equivalents): Short-term, highly liquid investments readily convertible to known cash amounts, with an original maturity of three months or less — treasury bills, money market funds
- [Cash flow statement](https://lopifi.com/md/glossary/cash-flow-statement): Where the cash went in a period, reconciled from net income
- [Cash ratio](https://lopifi.com/md/glossary/cash-ratio): Cash ratio is a liquidity and working-capital metric, calculated as Cash and equivalents ÷ Current liabilities.
- [CCC](https://lopifi.com/md/glossary/ccc): CCC is a liquidity and working-capital metric, calculated as DSO + DIO − DPO.
- [CECL](https://lopifi.com/md/glossary/cecl): Current expected credit losses — the ASC 326 model that books lifetime expected losses from day one using history, current conditions and reasonable forecasts. ASU 2025-05 adds a practical expedient for current AR and contract assets
- [CEI](https://lopifi.com/md/glossary/cei): CEI is a liquidity and working-capital metric, calculated as (Opening AR + Credit sales − Closing total AR) ÷ (Opening AR + Credit sales − Closing current AR).
- [Chargeback](https://lopifi.com/md/glossary/chargeback): A card payment reversed by the cardholder's issuing bank on a cardholder claim — fraud, goods not received, not as described. The processor debits the merchant the amount plus a fee; the merchant may contest it with evidence (representment)
- [Chart of accounts](https://lopifi.com/md/glossary/chart-of-accounts): The account structure
- [Churned MRR](https://lopifi.com/md/glossary/churned-mrr): Churned MRR is a recurring-revenue metric, calculated as Full cancellations.
- [Clearing account](https://lopifi.com/md/glossary/clearing-account): An account that should net to zero once both sides of a flow have posted — payroll clearing, GR/IR, a payment processor clearing account; a residual balance is the exception
- [Close](https://lopifi.com/md/glossary/close): The process of finalizing a period
- [Closing entry](https://lopifi.com/md/glossary/closing-entry): The year-end entry that zeroes every temporary account — revenue, expense, gains, losses, dividends or drawings — into retained earnings, so the new year's P&L starts at nil. Most ledger software performs it virtually
- [Closing rate](https://lopifi.com/md/glossary/closing-rate): The spot exchange rate at the balance sheet date, used to translate assets and liabilities and to remeasure monetary items
- [Combined Federal/State Filing Program](https://lopifi.com/md/glossary/combined-federal-state-filing-program): The IRS program that forwards 1099s filed electronically to participating states, satisfying their filing requirement — though many states still require direct filing, or a reconciliation return of their own
- [Combined reporting](https://lopifi.com/md/glossary/combined-reporting): Filing one state income tax return for a unitary group — the members' income combined, then apportioned. Two rules decide whose in-state sales count in the numerator: Joyce (only members with nexus) and Finnigan (every member, once any member has nexus)
- [Comparative](https://lopifi.com/md/glossary/comparative): A prior period column
- [Compilation](https://lopifi.com/md/glossary/compilation): An engagement in which an accountant presents financial statements from management's information without obtaining or giving any assurance — no audit, no review — and says so in the report; an accountant who is not independent must disclose it
- [Consolidated](https://lopifi.com/md/glossary/consolidated): Presenting a parent and the entities it controls as one economic entity, with intercompany balances and transactions eliminated
- [Contra account](https://lopifi.com/md/glossary/contra-account): An account with the opposite normal balance to its type, presented as a deduction from its parent — accumulated depreciation against PP&E, the allowance against AR
- [Contra-revenue account](https://lopifi.com/md/glossary/contra-revenue-account): An account with a debit balance netted against gross revenue — returns, allowances, sales discounts, rebates — so net revenue is presented after them
- [Contract asset](https://lopifi.com/md/glossary/contract-asset): Revenue recognized ahead of an unconditional right to payment — the right still depends on something other than the passage of time
- [Contraction MRR](https://lopifi.com/md/glossary/contraction-mrr): Contraction MRR is a recurring-revenue metric, calculated as Downgrades, not cancellations.
- [Contribution margin](https://lopifi.com/md/glossary/contribution-margin): Contribution margin is a profitability metric, calculated as (Revenue − Variable costs) ÷ Revenue.
- [Control account](https://lopifi.com/md/glossary/control-account): A GL account whose balance is the total of a subledger — AR, AP, fixed assets — and is posted only from it
- [Cost of revenue](https://lopifi.com/md/glossary/cost-of-revenue): The direct costs of producing the goods or delivering the services sold in the period — the line gross profit is measured after
- [Cost-of-performance sourcing](https://lopifi.com/md/glossary/cost-of-performance-sourcing): Assigning receipts from services to the state where the income-producing activity is performed — under the UDITPA rule, all of it to the state with the greater share of the costs of performance
- [Credit](https://lopifi.com/md/glossary/credit): The right column. It increases liabilities, equity and revenue, and decreases assets and expenses.
- [Credit note](https://lopifi.com/md/glossary/credit-note): A reduction of what a customer owes
- [CTA](https://lopifi.com/md/glossary/cta): Cumulative translation adjustment — the running total of translation differences, held in AOCI until the foreign entity is sold or substantially liquidated
- [Current asset](https://lopifi.com/md/glossary/current-asset): An asset expected to be realized, sold or consumed within twelve months of the balance sheet date or the operating cycle, if longer
- [Current balance](https://lopifi.com/md/glossary/current-balance): Posted, including uncleared items
- [Current liability](https://lopifi.com/md/glossary/current-liability): An obligation expected to be settled with current assets, or by creating another current liability, within twelve months or the operating cycle, if longer
- [Current ratio](https://lopifi.com/md/glossary/current-ratio): Current ratio is a liquidity and working-capital metric, calculated as Current assets ÷ Current liabilities.
- [Cutoff](https://lopifi.com/md/glossary/cutoff): Recording each transaction in the period in which it occurred — the boundary tested at every period end
- [Day-count convention](https://lopifi.com/md/glossary/day-count-convention): The rule that turns a date range into a fraction of a year for interest — 30/360, actual/360, actual/365, actual/actual. The same rate on the same loan accrues a different amount under each
- [De minimis safe harbor](https://lopifi.com/md/glossary/de-minimis-safe-harbor): An annual tax election to deduct, rather than capitalize, tangible property costing up to $2,500 per invoice or item — $5,000 with an applicable financial statement — provided the books expense the same amounts under an accounting policy in place at the start of the year
- [Debit](https://lopifi.com/md/glossary/debit): The left column. It increases assets and expenses, and decreases liabilities, equity and revenue.
- [Debt-to-equity](https://lopifi.com/md/glossary/debt-to-equity): Debt-to-equity is a leverage and coverage metric, calculated as Total debt ÷ Total equity.
- [Default alive](https://lopifi.com/md/glossary/default-alive): Whether, with expenses held where they are and revenue growing at its recent rate, a company reaches profitability on the cash it already has. If not, it is default dead and its runway ends in a raise
- [Deferral](https://lopifi.com/md/glossary/deferral): Cash paid or received ahead of the expense or revenue it relates to, held on the balance sheet — as a prepaid or deferred revenue — until consumed or earned
- [Deferred revenue](https://lopifi.com/md/glossary/deferred-revenue): Consideration received, or unconditionally due, before the goods or services are transferred — a liability until the performance obligation is satisfied. ASC 606 calls it a contract liability
- [Deferred tax asset](https://lopifi.com/md/glossary/deferred-tax-asset): Future tax savings from deductible temporary differences and carryforwards, measured at enacted rates
- [Deferred tax liability](https://lopifi.com/md/glossary/deferred-tax-liability): Future tax payable on taxable temporary differences — typically accelerated tax depreciation — measured at enacted rates
- [Deposit in transit](https://lopifi.com/md/glossary/deposit-in-transit): A receipt recorded in the book cash account but not yet on the bank statement — added to the bank balance in a reconciliation
- [Depreciation](https://lopifi.com/md/glossary/depreciation): Spreading the cost of a fixed asset over the periods it serves
- [Dimension](https://lopifi.com/md/glossary/dimension): A non-account axis: entity, department, project
- [DIO](https://lopifi.com/md/glossary/dio): DIO is a liquidity and working-capital metric, calculated as (Inventory ÷ COGS for the period) × Days in the period.
- [Direct method](https://lopifi.com/md/glossary/direct-method): Presenting operating cash flows as gross receipts and payments by major class — cash from customers, cash paid to suppliers and employees. Encouraged by ASC 230, but it must still be accompanied by the reconciliation from net income
- [Dividend](https://lopifi.com/md/glossary/dividend): A distribution of earnings to shareholders, declared by the board — a liability from the declaration date and a reduction of retained earnings, never an expense
- [Dormancy period](https://lopifi.com/md/glossary/dormancy-period): The time without owner contact after which property — an uncashed vendor check, a customer credit balance, unpaid wages — is presumed abandoned and must be reported to the state. Commonly three years for vendor checks and one year for wages, varying by state and property type
- [Double-entry](https://lopifi.com/md/glossary/double-entry): Recording every transaction as equal debits and credits, so the ledger proves itself
- [DPO](https://lopifi.com/md/glossary/dpo): DPO is a liquidity and working-capital metric, calculated as (Ending AP ÷ COGS for the period) × Days in the period.
- [DSCR](https://lopifi.com/md/glossary/dscr): DSCR is a leverage and coverage metric, calculated as Cash available for debt service ÷ Debt service (interest + scheduled principal).
- [DSO](https://lopifi.com/md/glossary/dso): DSO is a liquidity and working-capital metric, calculated as (Ending AR ÷ Credit sales for the period) × Days in the period.
- [Dunning](https://lopifi.com/md/glossary/dunning): The sequence of collection communications
- [Early-payment discount](https://lopifi.com/md/glossary/early-payment-discount): A reduction offered for paying before the net due date — 2/10 net 30 is 2% off if paid in 10 days, an annualized return of about 37%
- [EBIT](https://lopifi.com/md/glossary/ebit): EBIT is a profitability metric, calculated as Net income + Interest expense + Income tax expense.
- [EBITDA](https://lopifi.com/md/glossary/ebitda): EBITDA is a profitability metric, calculated as Net income + interest + income taxes + D&A (≈ operating income + D&A with no other non-operating items).
- [EBITDA margin](https://lopifi.com/md/glossary/ebitda-margin): EBITDA margin is a profitability metric, calculated as EBITDA ÷ Revenue.
- [Economic nexus](https://lopifi.com/md/glossary/economic-nexus): A connection with a state created by economic activity alone — sales into the state above a threshold — rather than physical presence. The basis of remote-seller sales tax since South Dakota v. Wayfair (2018), and of many states' income and franchise taxes, where P.L. 86-272 still shields solicitation of tangible goods sales
- [Effective tax rate](https://lopifi.com/md/glossary/effective-tax-rate): Total income tax expense divided by pre-tax income, reconciled to the statutory rate in the notes — by category and jurisdiction under ASU 2023-09
- [Elimination](https://lopifi.com/md/glossary/elimination): A consolidation-only entry removing intercompany balances, transactions and unrealized profit, so the group does not report trading with itself
- [Equity](https://lopifi.com/md/glossary/equity): The residual interest in the assets that remains after deducting liabilities (FASB CON 8 ¶E61)
- [Equity method](https://lopifi.com/md/glossary/equity-method): Accounting for an investee over which the investor has significant influence — presumed at 20–50% of the vote — as one investment line adjusted by the investor's share of its earnings
- [Error of commission](https://lopifi.com/md/glossary/error-of-commission): The right amount posted to the wrong account of the right type — a payment applied to the wrong customer, an expense coded to the wrong department. Debits still equal credits, so the trial balance will not find it
- [Error of principle](https://lopifi.com/md/glossary/error-of-principle): An entry posted to the wrong type of account in breach of an accounting rule — a repair capitalized as an asset, a loan receipt booked as revenue. The trial balance still balances; only review finds it
- [Escheatment](https://lopifi.com/md/glossary/escheatment): Remitting unclaimed property — uncashed vendor checks, customer credit balances — to the state after its dormancy period
- [Evidence](https://lopifi.com/md/glossary/evidence): Documentation supporting a recorded amount
- [Exception](https://lopifi.com/md/glossary/exception): A break requiring investigation
- [Exemption certificate](https://lopifi.com/md/glossary/exemption-certificate): The document a buyer gives a seller to claim a sales tax exemption — resale, manufacturing, an exempt organization — which the seller keeps to prove why it did not collect. New Mexico's version is the nontaxable transaction certificate (NTTC)
- [Expansion MRR](https://lopifi.com/md/glossary/expansion-mrr): Expansion MRR is a recurring-revenue metric, calculated as Upgrades and seat additions from existing customers.
- [Expense](https://lopifi.com/md/glossary/expense): Outflows or using up of assets, or incurrences of liabilities, from delivering goods or services — recognized when incurred, not when paid
- [Finance lease](https://lopifi.com/md/glossary/finance-lease): A lease that effectively transfers control of the asset — ownership transfer, purchase option reasonably certain, major part of life or substantially all of fair value, or a specialized asset — expensed as amortization plus interest
- [Finding](https://lopifi.com/md/glossary/finding): An identified control or accounting problem
- [Fiscal year](https://lopifi.com/md/glossary/fiscal-year): The twelve-month (or 52–53 week) reporting year an entity has chosen, which need not start in January
- [Fixed asset](https://lopifi.com/md/glossary/fixed-asset): A tangible asset held for use in operations over more than one period — property, plant and equipment — carried at cost less accumulated depreciation
- [Flux analysis](https://lopifi.com/md/glossary/flux-analysis): Explaining period-over-period variances
- [For the period ended](https://lopifi.com/md/glossary/for-the-period-ended): The label for a P&L or cash flow
- [Form 1099-K](https://lopifi.com/md/glossary/form-1099-k): The information return from a payment settlement entity reporting a payee's gross payment card and third-party network receipts — card transactions at any amount; third-party network transactions only above $20,000 and 200 transactions, the threshold the OBBBA retroactively reinstated. Gross of refunds, chargebacks and fees, so it never ties to revenue
- [Form 1099-NEC](https://lopifi.com/md/glossary/form-1099-nec): The IRS information return for nonemployee compensation paid to a contractor in the course of business — required at $600 a year for payments through 2025 and $2,000 from 2026 (indexed from 2027), due to the recipient and the IRS by 31 January
- [Form 7004](https://lopifi.com/md/glossary/form-7004): The IRS application for an automatic extension of time to file business income tax returns — six months for Forms 1120, 1120-S and 1065 — filed by the original due date. It extends the time to file, not the time to pay
- [Form W-9](https://lopifi.com/md/glossary/form-w-9): The IRS form a US payee gives a payer to certify its name, tax classification and taxpayer identification number — collected before the first payment, because it drives 1099 reporting and backup withholding
- [Free cash flow](https://lopifi.com/md/glossary/free-cash-flow): Free cash flow is a cash and runway metric, calculated as Operating cash flow − Capital expenditures.
- [Functional currency](https://lopifi.com/md/glossary/functional-currency): The currency of the primary economic environment in which the entity generates and spends cash — a judgment from cash-flow, sales-price, expense and financing indicators
- [FUTA](https://lopifi.com/md/glossary/futa): The federal unemployment tax an employer pays — 6.0% of the first $7,000 of each employee's wages, reduced to a net 0.6% by the state credit unless the state is a credit-reduction state; filed on Form 940
- [FUTA credit reduction](https://lopifi.com/md/glossary/futa-credit-reduction): The cut to the 5.4% state credit against FUTA for employers in a state that has carried a federal unemployment loan for two consecutive 1 January balances and not repaid it by 10 November — 0.3 points, growing each further year. For 2025: California 1.2%, US Virgin Islands 4.5%
- [General ledger](https://lopifi.com/md/glossary/general-ledger): The complete set of accounts, holding every posted entry
- [Goods receipt](https://lopifi.com/md/glossary/goods-receipt): Confirmation that goods arrived
- [Goodwill](https://lopifi.com/md/glossary/goodwill): The excess of the consideration paid in a business combination over the fair value of the identifiable net assets acquired — not amortized by public companies, tested for impairment at least annually
- [GR/IR](https://lopifi.com/md/glossary/gr-ir): Goods received / invoice received — the clearing account credited at receipt and debited when the vendor invoice arrives; its balance is received-not-yet-invoiced
- [Gross burn](https://lopifi.com/md/glossary/gross-burn): Gross burn is a cash and runway metric, calculated as Total operating cash outflows in the month.
- [Gross margin](https://lopifi.com/md/glossary/gross-margin): Gross margin is a profitability metric, calculated as (Revenue − COGS) ÷ Revenue.
- [Gross profit](https://lopifi.com/md/glossary/gross-profit): Net revenue less cost of revenue, as an amount
- [Gross receipts tax](https://lopifi.com/md/glossary/gross-receipts-tax): A tax on a business's gross receipts with no deduction for costs, levied on the seller — Washington B&O, Ohio CAT, Nevada commerce tax, New Mexico GRT, Arizona TPT. An operating expense, not an income tax under ASC 740; Texas's margin tax, measured on a modified gross margin, is treated as an income tax
- [Gross revenue retention](https://lopifi.com/md/glossary/gross-revenue-retention): Gross revenue retention is a recurring-revenue metric, calculated as (Starting − Contraction − Churn) ÷ Starting.
- [Hard close](https://lopifi.com/md/glossary/hard-close): A close in which every step is done — reconciliations, accruals, review, sign-off — and the period is locked against posting, so its statements can go to lenders, investors and auditors
- [Home-rule sales tax](https://lopifi.com/md/glossary/home-rule-sales-tax): A local sales tax that a home-rule city administers itself — its own license, return, base and audit — rather than through the state. Common in Colorado, Louisiana and Alabama
- [ICFR](https://lopifi.com/md/glossary/icfr): Internal control over financial reporting — the process designed to give reasonable assurance that the financial statements are reliable, which management of an SEC registrant must assess annually
- [Idempotency key](https://lopifi.com/md/glossary/idempotency-key): A unique value sent with a write request so a retried request is applied once — the API returns the original result instead of posting a second invoice, payment or journal
- [Impairment](https://lopifi.com/md/glossary/impairment): Writing an asset down because its carrying amount is not recoverable — for long-lived assets, a recoverability test on undiscounted cash flows, then a write-down to fair value
- [Income tax expense](https://lopifi.com/md/glossary/income-tax-expense): The P&L charge for income taxes — current tax payable for the period plus the change in deferred tax assets and liabilities
- [Incremental borrowing rate](https://lopifi.com/md/glossary/incremental-borrowing-rate): The rate the lessee would pay to borrow, on a collateralized basis over a similar term, an amount equal to the lease payments — the discount rate when the implicit rate is unknown
- [Indirect method](https://lopifi.com/md/glossary/indirect-method): Presenting operating cash flows by starting from net income and adjusting for non-cash items and changes in working capital — the method most entities use. ASC 230 also calls it the reconciliation method
- [Intangible asset](https://lopifi.com/md/glossary/intangible-asset): A non-physical asset other than goodwill — software, customer lists, patents, trademarks — amortized over its useful life unless indefinite-lived
- [Intercompany](https://lopifi.com/md/glossary/intercompany): A balance or transaction between two entities in the same group — real in each entity's books, eliminated on consolidation
- [Interest coverage](https://lopifi.com/md/glossary/interest-coverage): Interest coverage is a leverage and coverage metric, calculated as EBIT ÷ Interest expense.
- [Inventory turnover](https://lopifi.com/md/glossary/inventory-turnover): Inventory turnover is a liquidity and working-capital metric, calculated as COGS ÷ Average inventory.
- [Invoice](https://lopifi.com/md/glossary/invoice): A claim on a customer
- [IRC conformity](https://lopifi.com/md/glossary/irc-conformity): How a state's income tax adopts the federal Internal Revenue Code — rolling (as currently amended), fixed-date (as of a stated date, updated by legislation) or selective. A fixed-date state may not follow §174A, bonus depreciation or other recent federal changes
- [Journal](https://lopifi.com/md/glossary/journal): The chronological record of entries, before they are summarized by account
- [Journal entry](https://lopifi.com/md/glossary/journal-entry): A balanced set of debit and credit lines posted to the GL
- [Large corporate filer](https://lopifi.com/md/glossary/large-corporate-filer): A Delaware corporation with stock listed on a national securities exchange that reports consolidated gross revenues or assets of $750 million or more — it pays a flat $250,000 annual franchise tax instead of the $200,000 maximum
- [Lead schedule](https://lopifi.com/md/glossary/lead-schedule): The working paper that lists each GL account in a balance sheet or P&L caption with its balance and the schedule or reconciliation that supports it
- [Lease liability](https://lopifi.com/md/glossary/lease-liability): The present value of the lease payments not yet paid, discounted at the rate implicit in the lease or, if not determinable, the incremental borrowing rate
- [Leverage ratio](https://lopifi.com/md/glossary/leverage-ratio): Leverage ratio is a leverage and coverage metric, calculated as Net debt ÷ EBITDA (or total debt ÷ EBITDA).
- [Liability](https://lopifi.com/md/glossary/liability): A present obligation of the entity to transfer an economic benefit (FASB CON 8 ¶E37)
- [Liquidation preference](https://lopifi.com/md/glossary/liquidation-preference): A preferred stockholder's right to be paid a stated amount — usually 1× the original issue price plus declared but unpaid dividends — before common stockholders in a sale or liquidation. Non-participating preferred takes the greater of that or its as-converted share; participating preferred takes both
- [Logo churn](https://lopifi.com/md/glossary/logo-churn): Logo churn is a recurring-revenue metric, calculated as Customers lost ÷ starting customers.
- [LTV](https://lopifi.com/md/glossary/ltv): LTV is a unit-economics metric, calculated as (ARPA × Gross margin) ÷ Revenue churn rate, both in the same period unit.
- [LTV:CAC](https://lopifi.com/md/glossary/ltv-cac): LTV:CAC is a unit-economics metric. It has no single agreed formula — state the inputs.
- [Magic number](https://lopifi.com/md/glossary/magic-number): Magic number is a unit-economics metric, calculated as Net new ARR in the quarter ÷ prior-quarter S&M (equivalently (Δ quarterly revenue × 4) ÷ prior-quarter S&M).
- [Market-based sourcing](https://lopifi.com/md/glossary/market-based-sourcing): Assigning receipts from services and intangibles to the state where the customer receives the benefit, for the sales factor — the rule in most states
- [Marketplace facilitator](https://lopifi.com/md/glossary/marketplace-facilitator): A platform — Amazon, Etsy, eBay — that every sales-tax state requires to collect and remit sales tax on sales it facilitates for third-party sellers; the seller does not collect again on those sales
- [Matching principle](https://lopifi.com/md/glossary/matching-principle): Recognizing an expense in the same period as the revenue it helped produce
- [Material right](https://lopifi.com/md/glossary/material-right): A customer option to buy additional goods or services at a discount it would not get without the contract — a renewal discount, loyalty points — accounted for as a separate performance obligation, deferring part of today's price
- [Material weakness](https://lopifi.com/md/glossary/material-weakness): A deficiency, or combination of deficiencies, in ICFR such that there is a reasonable possibility a material misstatement will not be prevented or detected on a timely basis
- [Materiality](https://lopifi.com/md/glossary/materiality): Whether a misstatement or omission would likely change the judgment of a reasonable user of the statements — judged on size and nature together, never a fixed percentage
- [Monetary item](https://lopifi.com/md/glossary/monetary-item): A balance fixed in currency units — cash, receivables, payables, debt — and therefore remeasured when exchange rates move; inventory, prepaids and PP&E are non-monetary
- [Monopolistic state fund](https://lopifi.com/md/glossary/monopolistic-state-fund): A state workers' compensation fund that is the only insurer allowed — North Dakota, Ohio, Washington and Wyoming — so coverage cannot be bought privately (Ohio and Washington permit self-insurance)
- [Months of cash](https://lopifi.com/md/glossary/months-of-cash): Months of cash is a cash and runway metric, calculated as Same as runway.
- [MRR](https://lopifi.com/md/glossary/mrr): MRR is a recurring-revenue metric, calculated as Sum of normalized monthly recurring subscription value.
- [Municipal net profit tax](https://lopifi.com/md/glossary/municipal-net-profit-tax): A city income tax on a business's net profits, usually paired with a tax on wages earned in the city — Ohio municipalities, Philadelphia, Wilmington, Kansas City and St. Louis. Filed with the city, not the state
- [Net book value](https://lopifi.com/md/glossary/net-book-value): Cost less accumulated depreciation and impairment — the carrying amount of an asset
- [Net burn](https://lopifi.com/md/glossary/net-burn): Net burn is a cash and runway metric, calculated as Operating and investing cash out − cash in, excluding financing inflows.
- [Net debt](https://lopifi.com/md/glossary/net-debt): Net debt is a leverage and coverage metric, calculated as Total debt − Cash.
- [Net income](https://lopifi.com/md/glossary/net-income): Revenues and gains less expenses and losses, including income tax, for the period — the bottom line of the P&L, before any allocation to non-controlling interests
- [Net margin](https://lopifi.com/md/glossary/net-margin): Net margin is a profitability metric, calculated as Net income ÷ Revenue.
- [Net new MRR](https://lopifi.com/md/glossary/net-new-mrr): Net new MRR is a recurring-revenue metric, calculated as New + Expansion − Contraction − Churned.
- [Net operating loss](https://lopifi.com/md/glossary/net-operating-loss): The excess of tax deductions over gross income for a year. Federal NOLs arising after 2017 carry forward indefinitely, cannot be carried back (farming aside), and may offset only 80% of taxable income computed before the NOL deduction
- [Net revenue retention](https://lopifi.com/md/glossary/net-revenue-retention): Net revenue retention is a recurring-revenue metric, calculated as (Starting + Expansion − Contraction − Churn) ÷ Starting.
- [New MRR](https://lopifi.com/md/glossary/new-mrr): New MRR is a recurring-revenue metric, calculated as From customers new this period.
- [NOL deduction cap](https://lopifi.com/md/glossary/nol-deduction-cap): A limit on how much of a year's income a loss carryforward may offset — federally 80% for post-2017 NOLs; in the states it varies: Pennsylvania caps pre-2025 losses at 40% and later ones at 50% in 2026, rising ten points a year to 80% from 2029, and some states suspend NOL deductions outright in deficit years
- [Non-controlling interest](https://lopifi.com/md/glossary/non-controlling-interest): The equity in a consolidated subsidiary not attributable to the parent — shown within equity, separately from the parent's, with its share of net income allocated on the P&L
- [Non-GAAP financial measure](https://lopifi.com/md/glossary/non-gaap-financial-measure): A numerical measure of performance, position or cash flow that adjusts a GAAP figure — EBITDA, free cash flow, adjusted net income. A registrant publishing one must reconcile it to the most comparable GAAP measure
- [Normal balance](https://lopifi.com/md/glossary/normal-balance): The side that increases an account — debit for assets and expenses, credit for liabilities, equity and revenue, inverted for a contra account
- [Operating income](https://lopifi.com/md/glossary/operating-income): Gross profit less operating expenses — the result of the core business before interest, other income and tax
- [Operating lease](https://lopifi.com/md/glossary/operating-lease): Under ASC 842, a lessee lease that is not a finance lease — on the balance sheet, with a single straight-line lease cost in the P&L
- [Operating margin](https://lopifi.com/md/glossary/operating-margin): Operating margin is a profitability metric, calculated as Operating income ÷ Revenue.
- [Other comprehensive income](https://lopifi.com/md/glossary/other-comprehensive-income): Gains and losses that bypass net income by standard — translation adjustments, unrealized gains on available-for-sale debt securities, cash-flow hedges, pension remeasurements — accumulated in AOCI within equity
- [Out-of-period adjustment](https://lopifi.com/md/glossary/out-of-period-adjustment): Correcting a prior-period error in the current period, permitted only when the error is immaterial to both periods
- [Outstanding check](https://lopifi.com/md/glossary/outstanding-check): A check recorded as paid in the books but not yet presented to the bank — deducted from the bank balance in a reconciliation
- [P&L](https://lopifi.com/md/glossary/p-and-l): Performance over a period
- [Paid family and medical leave](https://lopifi.com/md/glossary/paid-family-and-medical-leave): A state insurance program, funded by payroll contributions from employees, employers or both, that pays wage replacement during leave for a serious health condition, a new child or family care — in about a dozen states and DC, each with its own rate and wage base
- [Payee](https://lopifi.com/md/glossary/payee): The party receiving a payment
- [Payer](https://lopifi.com/md/glossary/payer): The party paying us
- [Payment run](https://lopifi.com/md/glossary/payment-run): A batch of payments released together
- [Payment terms](https://lopifi.com/md/glossary/payment-terms): The agreed timing of payment and any early-payment discount — Net 30, Net 30 EOM, 2/10 net 30, due on receipt; the due date that aging is measured from
- [Payroll tax offset](https://lopifi.com/md/glossary/payroll-tax-offset): An election by a qualified small business — gross receipts under $5 million and none before the last five years — to apply up to $500,000 a year of its research credit against the employer share of Social Security and then Medicare tax. Elected on Form 6765 with a timely original return, claimed on Form 8974 from the next quarter
- [Pending](https://lopifi.com/md/glossary/pending): Submitted or authorized, not settled
- [Performance obligation](https://lopifi.com/md/glossary/performance-obligation): A promise in a contract to transfer a distinct good or service, or a series of substantially the same ones — the unit revenue is recognized by
- [Period](https://lopifi.com/md/glossary/period): A fiscal reporting window
- [Permanent account](https://lopifi.com/md/glossary/permanent-account): A balance sheet account — asset, liability or equity — whose closing balance carries forward as the next period's opening balance
- [Positive pay](https://lopifi.com/md/glossary/positive-pay): A bank fraud control: the company sends the bank a file of issued checks (or approved ACH debits) and the bank returns any presented item that does not match for a decision
- [Posting](https://lopifi.com/md/glossary/posting): Committing an entry to the ledger, making it immutable
- [Prepaid expense](https://lopifi.com/md/glossary/prepaid-expense): Cash paid before the benefit is consumed — an asset until it is
- [Presentation currency](https://lopifi.com/md/glossary/presentation-currency): The currency the statements are shown in. ASC 830 calls it the reporting currency; IAS 21 the presentation currency — we use the latter
- [Principal versus agent](https://lopifi.com/md/glossary/principal-versus-agent): Whether the entity controls a good or service before it passes to the customer — a principal reports revenue gross, an agent reports only its fee or commission net
- [Processor reserve](https://lopifi.com/md/glossary/processor-reserve): Card settlements a payment processor withholds against future chargebacks and refunds — a rolling percentage held for a set number of days, a fixed amount, or an upfront hold. It is the merchant's receivable from the processor, not cash on hand
- [Promise to pay](https://lopifi.com/md/glossary/promise-to-pay): A customer commitment to a date and amount
- [Purchase order](https://lopifi.com/md/glossary/purchase-order): A commitment to buy
- [Qualified small business stock](https://lopifi.com/md/glossary/qualified-small-business-stock): Original-issue stock of a domestic C corporation with gross assets of $75 million or less at issuance that lets holders exclude gain on sale — for stock issued after 4 July 2025, 50% after three years, 75% after four and 100% after five, up to the greater of $15 million or ten times basis per issuer. Stock issued earlier keeps the old rules: $50 million of gross assets, five years, $10 million
- [Quality of earnings](https://lopifi.com/md/glossary/quality-of-earnings): A diligence analysis, usually by an accounting firm before an acquisition or financing, of whether reported EBITDA is sustainable — normalizing and non-recurring adjustments, proof of cash, the net working capital peg. It gives no assurance and is not an audit
- [Quick ratio](https://lopifi.com/md/glossary/quick-ratio): Quick ratio is a liquidity and working-capital metric, calculated as (Cash and equivalents + Short-term investments + Accounts receivable) ÷ Current liabilities.
- [Realized FX gain or loss](https://lopifi.com/md/glossary/realized-fx-gain-or-loss): The exchange difference crystallized when a foreign-currency item is settled — settlement-date rate versus the rate it was last carried at
- [Receivables turnover](https://lopifi.com/md/glossary/receivables-turnover): Receivables turnover is a liquidity and working-capital metric, calculated as Credit sales ÷ Average AR.
- [Reclassification](https://lopifi.com/md/glossary/reclassification): Moving an amount from one account or line to another without changing net income or total equity — current portion of debt, a miscoded bill
- [Reconciled](https://lopifi.com/md/glossary/reconciled): Matched to a bank statement line
- [Reconciliation](https://lopifi.com/md/glossary/reconciliation): Comparing our record to an external party's
- [Refund](https://lopifi.com/md/glossary/refund): Returning cash already received
- [Refundable credit](https://lopifi.com/md/glossary/refundable-credit): A tax credit whose excess over the tax due is paid out in cash. Because it does not depend on taxable income, it is generally accounted for outside ASC 740 — as a reduction of the related cost or as other income
- [Remaining performance obligations](https://lopifi.com/md/glossary/remaining-performance-obligations): Transaction price allocated to obligations not yet satisfied — deferred revenue plus contracted, unbilled amounts — disclosed with when it is expected to be recognized
- [Remeasurement](https://lopifi.com/md/glossary/remeasurement): Restating foreign-currency monetary balances, or books kept in a currency other than the functional one, into the functional currency — differences go to the P&L
- [Remote-seller grace period](https://lopifi.com/md/glossary/remote-seller-grace-period): The time a seller with no physical presence has, after crossing a state's economic nexus threshold, before it must register and collect — immediately, the first day of a following month, or the next calendar year, depending on the state
- [Restatement](https://lopifi.com/md/glossary/restatement): Revising previously issued statements to correct an error material to them ("Big R") — comparatives are relabeled Restated and the error disclosed
- [Restricted cash](https://lopifi.com/md/glossary/restricted-cash): Cash legally or contractually unavailable for general use — escrow, collateral, compensating balances. Presented separately, but included with cash in the statement of cash flows since ASU 2016-18
- [Retained earnings](https://lopifi.com/md/glossary/retained-earnings): Accumulated net income not distributed to owners — where the P&L lands on the balance sheet
- [Revenue](https://lopifi.com/md/glossary/revenue): Inflows or enhancements of assets, or settlements of liabilities, from delivering goods or services — recognized when control transfers, not when cash arrives
- [Reversal](https://lopifi.com/md/glossary/reversal): An offsetting entry that undoes a posted entry
- [Reversing entry](https://lopifi.com/md/glossary/reversing-entry): An entry dated the first day of the next period that exactly offsets a period-end accrual, so the real invoice can be coded normally without double-counting
- [Revision](https://lopifi.com/md/glossary/revision): Correcting an immaterial prior-period error that would be material if corrected in the current period by adjusting the comparatives ("little r") — labeled As revised, no reissuance
- [Right-of-use asset](https://lopifi.com/md/glossary/right-of-use-asset): The lessee's right to use an underlying asset for the lease term — the lease liability plus prepaid lease payments and initial direct costs, less incentives received
- [Roll-forward](https://lopifi.com/md/glossary/roll-forward): Opening → movements → closing, proven
- [Rule of 40](https://lopifi.com/md/glossary/rule-of-40): Rule of 40 is a profitability metric, calculated as Revenue growth % + EBITDA margin %.
- [Runway](https://lopifi.com/md/glossary/runway): Runway is a cash and runway metric, calculated as Cash ÷ net monthly burn.
- [Sales tax nexus](https://lopifi.com/md/glossary/sales-tax-nexus): The connection with a state that obliges a seller to collect its sales tax — physical presence, or economic nexus from sales into the state above a threshold (commonly $100,000) since South Dakota v. Wayfair (2018)
- [Salvage value](https://lopifi.com/md/glossary/salvage-value): The amount expected from disposing of an asset at the end of its useful life, net of disposal costs — the floor depreciation stops at
- [Section 174A](https://lopifi.com/md/glossary/section-174a): The OBBBA rule restoring immediate deduction of domestic research or experimental expenditures for tax years beginning after 2024, with an election to amortize over 60 months or more instead. Foreign research stays capitalized over 15 years under §174; small businesses could apply it back to 2022–2024
- [Section 179 expensing](https://lopifi.com/md/glossary/section-179-expensing): An election to deduct the cost of qualifying equipment and software in the year it is placed in service — up to $2,560,000 for 2026, phased out dollar for dollar above $4,090,000 of purchases, and limited to taxable business income
- [Section 382 limitation](https://lopifi.com/md/glossary/section-382-limitation): The annual cap on using pre-change NOLs and credits after an ownership change — a more-than-50-percentage-point increase in ownership by 5% shareholders over a rolling three-year testing period. The cap is the loss corporation's equity value immediately before the change times the IRS long-term tax-exempt rate; unused cap carries forward
- [Segregation of duties](https://lopifi.com/md/glossary/segregation-of-duties): Splitting authorization, recording, custody of assets and reconciliation across different people, so no one person can both commit and conceal an error or fraud — at minimum, preparer ≠ approver
- [Settled](https://lopifi.com/md/glossary/settled): Finally and irrevocably transferred
- [Short-term lease](https://lopifi.com/md/glossary/short-term-lease): A lease with a term of twelve months or less and no purchase option the lessee is reasonably certain to exercise — may be kept off the balance sheet by policy election
- [Sign-off](https://lopifi.com/md/glossary/sign-off): Formal approval that a section is complete
- [Significant deficiency](https://lopifi.com/md/glossary/significant-deficiency): A control deficiency less severe than a material weakness yet important enough to merit the attention of those overseeing financial reporting
- [Social Security wage base](https://lopifi.com/md/glossary/social-security-wage-base): The maximum annual wages subject to the 6.2% Social Security tax, for employee and employer each — $184,500 in 2026, $176,100 in 2025, indexed every year. Medicare tax has no cap
- [Soft close](https://lopifi.com/md/glossary/soft-close): A period state in which routine posting has stopped and only adjusting entries by a controller are accepted. In common usage also an abbreviated month-end that estimates rather than fully reconciles — directional numbers, never the basis for external reporting
- [Stale-dated check](https://lopifi.com/md/glossary/stale-dated-check): A check presented more than six months after its date, which the bank may refuse — still a liability on our books until voided or escheated
- [Standalone](https://lopifi.com/md/glossary/standalone): A single entity, without consolidation
- [Standalone selling price](https://lopifi.com/md/glossary/standalone-selling-price): The price at which an entity would sell a good or service separately — the basis for allocating the transaction price across performance obligations
- [State disability insurance](https://lopifi.com/md/glossary/state-disability-insurance): A state program paying partial wages to employees off work with a non-work-related illness or injury, funded mainly by employee withholding — California, Hawaii, New Jersey, New York, Rhode Island and Puerto Rico
- [Statement](https://lopifi.com/md/glossary/statement): P&L, balance sheet, or cash flow
- [Subledger](https://lopifi.com/md/glossary/subledger): The detail, by customer, vendor or asset, whose total must equal its control account in the GL
- [Subsequent event](https://lopifi.com/md/glossary/subsequent-event): An event after the balance sheet date but before the statements are issued — recognized if the condition existed at the balance sheet date, disclosed only if it arose after
- [Suspense account](https://lopifi.com/md/glossary/suspense-account): A temporary holding account for an amount that must be posted before its correct account is known — cleared to zero before close, never reported
- [SUTA](https://lopifi.com/md/glossary/suta): The state unemployment insurance tax an employer pays on each employee's wages up to a state wage base, at an experience-rated rate assigned by the state
- [Sweep](https://lopifi.com/md/glossary/sweep): An automatic transfer between our own accounts at a set time or threshold — typically excess balances into a concentration or investment account
- [T-account](https://lopifi.com/md/glossary/t-account): The two-column sketch of one account — debits left, credits right
- [Temporary account](https://lopifi.com/md/glossary/temporary-account): An account that measures one period only — revenue, expense, gain, loss, dividends declared — and is closed to retained earnings at year end
- [Temporary difference](https://lopifi.com/md/glossary/temporary-difference): A difference between an asset or liability's tax basis and its book carrying amount that will reverse in future years — the source of deferred taxes
- [Three-way match](https://lopifi.com/md/glossary/three-way-match): Agreeing the purchase order, the goods receipt and the vendor invoice — quantity and price, line by line, within tolerance — before a bill is approved for payment
- [Tie-out](https://lopifi.com/md/glossary/tie-out): Proving a GL balance against supporting evidence
- [Transaction](https://lopifi.com/md/glossary/transaction): A business event — a payment, a sale, a purchase
- [Transaction currency](https://lopifi.com/md/glossary/transaction-currency): The currency a single transaction is denominated in — the invoice's currency, which may differ from the entity's functional currency
- [Transaction price](https://lopifi.com/md/glossary/transaction-price): The consideration an entity expects to be entitled to for the contract, including estimated variable consideration and excluding amounts collected for third parties such as sales tax
- [Transferable credit](https://lopifi.com/md/glossary/transferable-credit): A tax credit the holder may sell for cash to another taxpayer — federal clean-energy credits under §6418, many state film and historic credits; New Jersey's program also lets technology companies sell NOLs
- [Translation](https://lopifi.com/md/glossary/translation): Converting an entity's functional-currency statements into the presentation currency — assets and liabilities at the closing rate, income and expense at average — with the difference recorded in OCI as the CTA
- [Transposition error](https://lopifi.com/md/glossary/transposition-error): Two digits swapped when an amount is keyed — 54 entered as 45. The trial balance goes out by a difference that is always divisible by nine, which is how it is found
- [Trial balance](https://lopifi.com/md/glossary/trial-balance): Every account's balance in two columns, proving that total debits equal total credits
- [True-up](https://lopifi.com/md/glossary/true-up): The adjustment that replaces an estimate with the actual amount once it is known
- [Two-way match](https://lopifi.com/md/glossary/two-way-match): Agreeing the vendor invoice to the purchase order, without a receipt — used for services and where nothing physical arrives
- [Unapplied cash](https://lopifi.com/md/glossary/unapplied-cash): Customer cash received but not yet assigned to an invoice. It reduces that customer's AR; only a net credit balance is reclassified to a liability at period end
- [Unbilled receivable](https://lopifi.com/md/glossary/unbilled-receivable): Revenue recognized where the right to payment is unconditional but the invoice has not yet been issued — a receivable, not a contract asset
- [Unrealized FX gain or loss](https://lopifi.com/md/glossary/unrealized-fx-gain-or-loss): The exchange difference on an open foreign-currency monetary item at period end, recognized in the P&L and reversed or carried forward until settlement
- [Use tax](https://lopifi.com/md/glossary/use-tax): The buyer-side complement of sales tax, owed at the same rate on taxable goods and services used in a state when the seller did not collect sales tax — self-assessed and remitted by the buyer
- [Useful life](https://lopifi.com/md/glossary/useful-life): The period over which an asset is expected to contribute to cash flows, which sets the depreciation period — an estimate, revised prospectively
- [Valuation allowance](https://lopifi.com/md/glossary/valuation-allowance): The reduction of a deferred tax asset to the amount more likely than not (over 50%) to be realized
- [Variable consideration](https://lopifi.com/md/glossary/variable-consideration): Any part of the price that can change — discounts, rebates, refunds, credits, usage, bonuses, penalties — estimated and included only to the extent a significant reversal is not probable
- [Vendor](https://lopifi.com/md/glossary/vendor): A party we buy from
- [Vendor's compensation](https://lopifi.com/md/glossary/vendor-s-compensation): The share of collected sales tax a seller may keep, in states that allow it, for filing and paying on time — usually a small percentage, often capped
- [Voluntary Classification Settlement Program](https://lopifi.com/md/glossary/voluntary-classification-settlement-program): The IRS program letting an employer prospectively reclassify contractors as employees by paying 10% of one year's employment tax liability, computed at the reduced §3509 rates — no interest or penalties, and no audit of the prior classification. Applied for on Form 8952
- [Voluntary disclosure agreement](https://lopifi.com/md/glossary/voluntary-disclosure-agreement): An agreement in which a business with unfiled state tax obligations comes forward before the state contacts it — often anonymously at first — and files and pays a limited lookback period, typically three to four years, with penalties waived and interest usually due
- [Water's-edge election](https://lopifi.com/md/glossary/water-s-edge-election): An election by a unitary group filing a combined state return to leave most foreign affiliates out of the combined report — in California a binding contract for 84 months
- [Wire transfer](https://lopifi.com/md/glossary/wire-transfer): A payment settled individually and in full — domestically over Fedwire, cross-border through correspondent banks via SWIFT — same-day and final once sent, which is why it carries the highest fraud risk
- [Worker classification](https://lopifi.com/md/glossary/worker-classification): Deciding whether a worker is an employee or an independent contractor — federally by the common-law control test (behavioral, financial and relationship facts), in some states by the stricter ABC test. It decides who withholds and pays employment taxes
- [Working capital](https://lopifi.com/md/glossary/working-capital): Working capital is a liquidity and working-capital metric, calculated as Current assets − Current liabilities.
- [Write-off](https://lopifi.com/md/glossary/write-off): Removing an uncollectible receivable against the allowance for credit losses — under the allowance method it has no P&L effect; the expense was taken in the provision

## Lopifi APIs

- [Chart of accounts](https://lopifi.com/md/apis/chart-of-accounts): How does each ledger model an account?
- [Contacts, customers and suppliers](https://lopifi.com/md/apis/contacts): Is a customer who is also a supplier one record or two?
- [Sales invoices](https://lopifi.com/md/apis/invoices): What does an accounts-receivable invoice look like in each API?
- [Vendor bills](https://lopifi.com/md/apis/bills): Where does supplier spend actually live in each ledger?
- [Payments and allocation](https://lopifi.com/md/apis/payments): How is a payment tied to the documents it settles?
- [Credit notes and refunds](https://lopifi.com/md/apis/credit-notes): What object reduces an invoice, and what returns the cash?
- [Journals and the general ledger](https://lopifi.com/md/apis/journals): Can you get the actual general ledger out?
- [Items, products and services](https://lopifi.com/md/apis/items): Is an item optional, required, or a subsystem?
- [Tax](https://lopifi.com/md/apis/tax): Who computes the tax, and can you override it?
- [Dimensions and segments](https://lopifi.com/md/apis/dimensions): How many ways can a company slice its profit and loss?
- [Periods, locking and the close](https://lopifi.com/md/apis/periods): What stops someone posting into a closed month?
- [Attachments and the audit trail](https://lopifi.com/md/apis/attachments-and-audit): Can you see who changed what, and get the source document?
- [Reports](https://lopifi.com/md/apis/reports): Should you build statements on the reports endpoints?
- [Tenancy and multi-entity](https://lopifi.com/md/apis/tenancy): What is the boundary of one set of books?
- [Reading, paging and delta sync](https://lopifi.com/md/apis/sync-and-pagination): How do you get everything out, and then keep it fresh?
- [Writes, concurrency and rate limits](https://lopifi.com/md/apis/writes-and-limits): What happens when you write, and how fast can you go?
- [Webhooks and freshness](https://lopifi.com/md/apis/webhooks-and-freshness): How do you find out something changed?

## Tools

- [Difference diagnoser](https://lopifi.com/md/tools/difference): Out by 8,100? That is divisible by 9 — a transposition. This says which error fits the gap.
- [Which invoices make this deposit?](https://lopifi.com/md/tools/subset): A deposit against forty open items. Exact subset-sum over minor units — no floating point.
- [Two-list matcher](https://lopifi.com/md/tools/match): Bank against ledger: exact, then reference, then a date window, then one-to-many — and what is left on both sides.
- [Duplicate payments](https://lopifi.com/md/tools/duplicates): Same vendor, same amount, close in time — plus the same reference whatever the date.
- [Benford & round numbers](https://lopifi.com/md/tools/analytics): Two cheap tests over a pasted column. Neither proves anything; both tell you where to look.
- [Depreciation schedule](https://lopifi.com/md/tools/depreciation): Straight-line, declining balance or SYD, with the convention that decides the first period.
- [Prepaid & deferred release](https://lopifi.com/md/tools/amortize): A premium paid on the 17th does not release in twelve equal slices. Day-weighted, or even — your call.
- [Loan amortisation](https://lopifi.com/md/tools/loan): Level payment solved, then walked in minor units so the last payment clears the balance exactly.
- [Lease — ASC 842 / IFRS 16](https://lopifi.com/md/tools/lease): PV of the payments at your IBR, the liability unwind and the ROU asset — straight-line for a finance lease, the plug to a level cost for an operating one.
- [VAT / sales tax](https://lopifi.com/md/tools/tax): Gross to net is a division, not a multiplication. The three figures always add back up.
- [Margin & markup](https://lopifi.com/md/tools/margin): They are not the same number, and confusing them is how a price list quietly loses money.
- [FX conversion & gain/loss](https://lopifi.com/md/tools/fx): The rate is the one in your policy, so you type it. No live rate, no network call, no stale surprise.
- [Penny-exact allocation](https://lopifi.com/md/tools/allocate): Split 100.00 three ways and get 33.34 / 33.33 / 33.33 — never a cent left in suspense.
- [NPV, IRR & XIRR](https://lopifi.com/md/tools/npv): IRR by bisection, so a sign-change-heavy series does not converge on a confident wrong answer.
- [Effective vs nominal rate](https://lopifi.com/md/tools/rates): 12% compounded monthly is 12.68%. That difference is the covenant you either pass or fail.
- [Payment terms & due dates](https://lopifi.com/md/tools/terms): 2/10 net 30 is borrowing at 37% a year. This tells you whether to take the discount.
- [Day count & proration](https://lopifi.com/md/tools/daycount): 30/360 is wrong about the calendar and right about the contract. Both are here.
- [Journal entry balancer](https://lopifi.com/md/tools/journal): Paste an entry, see the out-of-balance, and copy an import-ready CSV.
- [Trial balance checker](https://lopifi.com/md/tools/tb): Balances — and then the harder question: is anything sitting on the wrong side of its normal?
- [Number cleaner](https://lopifi.com/md/tools/clean): (1,234.56) · 1.234,56 · 1,234.56- · $ 1 234.56 · 1.2k → clean signed values, one per line.
- [IBAN, routing, VAT, EIN](https://lopifi.com/md/tools/identifiers): Checksums, offline. A valid IBAN is not a real account, and this says so.
- [Amount in words](https://lopifi.com/md/tools/words): For the check, the note, the contract schedule — with the cents as a fraction over 100.

## Accounting, 0 to 1 — the course

- [1. Why the books exist](https://lopifi.com/md/learn/why-the-books-exist): What is bookkeeping actually for?
- [2. The accounting equation](https://lopifi.com/md/learn/the-accounting-equation): What is the accounting equation and why does it always balance?
- [3. Accounts, and the five types](https://lopifi.com/md/learn/accounts-and-the-chart): What is a chart of accounts and what are the five account types?
- [4. Debits and credits](https://lopifi.com/md/learn/debits-and-credits): What do debit and credit actually mean in accounting?
- [5. Recording the month](https://lopifi.com/md/learn/recording-the-month): How do you write a journal entry for a transaction?
- [6. Posting to the ledger](https://lopifi.com/md/learn/posting-to-the-ledger): What does it mean to post a journal entry to the ledger?
- [7. The trial balance](https://lopifi.com/md/learn/the-trial-balance): What is a trial balance and what does it actually prove?
- [8. Cash, accrual and cut-off](https://lopifi.com/md/learn/cash-versus-accrual): What is the difference between cash and accrual accounting?
- [9. Adjusting entries](https://lopifi.com/md/learn/adjusting-entries): What are adjusting entries and why are they needed at month end?
- [10. The income statement](https://lopifi.com/md/learn/the-income-statement): How do you build an income statement from a trial balance?
- [11. The balance sheet](https://lopifi.com/md/learn/the-balance-sheet): How does the balance sheet connect to the income statement?
- [12. The cash flow statement](https://lopifi.com/md/learn/the-cash-flow-statement): Why is a profitable company short of cash?
- [13. Closing the month](https://lopifi.com/md/learn/closing-the-month): What does it mean to close the books for a month?

## Compared with the alternatives

- [Bench alternative: Bench vs Lopifi](https://lopifi.com/md/compare/bench-alternative): Bench shut down in December 2024, was bought by Employer.com and is selling plans again. How it compares with Lopifi on ledger, basis, review and price.
- [Pilot vs Lopifi: startup bookkeeping compared](https://lopifi.com/md/compare/pilot): Pilot pairs an AI accountant with US-based bookkeepers in QuickBooks Online, priced by monthly expenses. How it compares with Lopifi, and when to pick Pilot.
- [Digits vs Lopifi: AI ledger or kept books](https://lopifi.com/md/compare/digits): Digits is an AI-native general ledger that replaces QuickBooks. Lopifi keeps your QuickBooks Online or Xero file. How the two compare, and who each fits.
- [Puzzle vs Lopifi: AI accounting compared](https://lopifi.com/md/compare/puzzle): Puzzle is AI-native accounting software that replaces QuickBooks, with optional bookkeeping services. How it compares with Lopifi, and who each fits.
- [Kruze vs Lopifi: startup accounting compared](https://lopifi.com/md/compare/kruze): Kruze Consulting is a full-service accounting firm for VC-funded startups, from $650 a month. How it compares with Lopifi on scope, ledger and price.
- [inDinero vs Lopifi: outsourced accounting](https://lopifi.com/md/compare/indinero): inDinero is an outsourced accounting firm with controllers and CFOs, from $750 a month. How it compares with Lopifi, and when the firm is worth it.
- [Fondo vs Lopifi: startup books and tax](https://lopifi.com/md/compare/fondo): Fondo bundles startup bookkeeping with tax filing and R&D credits for Delaware C-corps. How it compares with Lopifi, which keeps books but files no taxes.
- [DIY QuickBooks vs Lopifi for founders](https://lopifi.com/md/compare/diy-quickbooks): QuickBooks Online costs $38 to $340 a month and supports accrual. What doing your own books costs a founder, and when to hand them to Lopifi instead.
- [Freelance bookkeeper vs Lopifi](https://lopifi.com/md/compare/freelance-bookkeeper): A part-time or freelance bookkeeper is flexible and personal. How hiring one compares with Lopifi on cost, coverage, basis and review for a US startup.
- [Fractional CFO vs Lopifi: what each does](https://lopifi.com/md/compare/fractional-cfo): A fractional CFO or controller firm brings strategy and judgment for thousands a month. How that compares with Lopifi, which keeps the books underneath.