FI - Terms

Balance Sheet (OB58, S_ALR_87012279) - summary of a company's balances. Snap shot of a company's financial condition. Assets, Liabilities, Equity (Equity = Assets - Liabilities or Assets = Liabilities + Equity).
Assets: Cash, AR, property, equipment...

Liabilities: AP, provisions, bonds/notes, tax...

Equity: capital stock, retained earnings...

GL - record of business transactions.
Special Purpose Ledger - Used for reporting. User defined.
Reconciliation Account - type of GL account that summarizes sub-ledger accounts.
Subledger - provides the details behind the reconciliation account

Chart of Accoutns - list of GL accounts

1000 Assests

2000 Liabilities

3000 Equity

4000 Revenue

5000 Cost of goods sold

6000 Expense

7000 Other revenue (interest income)

8000 Other expense (income tax) 

Document type - identifies business transactions.  General Ledger Accounting Document, Customer Invoice, Customer Payment, Credit Memo, Vendor Invoice, Vendor Payment, Billing document...