Common Terminology
This topic contains an alphabetical list of terms that are common in the General Accounting area, and a definition for each one.
The act of moving the accounting impact of an open pre-encumbrance, encumbrance, receivable, or a selected group of the other accounting activity from one budget fiscal year into the next at or after a new fiscal year has begun. In all cases but receivables, the roll also involved the accounting fiscal year too.
The act of closing out the accounting impact of an open pre-encumbrance, encumbrance, receivable, or a selected group of the other accounting activity in the prior budget and accounting fiscal year with a separate transaction closing out the open one in a manner that does not reflect as a collection or a purchase.
