QuickBooks

Customer Asset Account

Credits that are to be applied to your future tax liabilities

Current Liability

Debts your company expects to pay within a year, such as a short-term loan or a bill

Inventory Asset Account

tracks current value of your inventory

Inventory Valuation Summary Report

Summarizes the value of your inventory

Inventory Valuation Detail Report

lists the transaction that affected the value of the inventory during a particular period of time

Inventory Assembly Item

one of the types of line items you can use when you are filling out a sales or purchase form

Balance Sheet

A report that summarizes the financial position of a business

Balance Sheet Account

the money or things that you own and the debts you owe