Accounts Payable (AP) - The outstanding amount owed by a retailer to its Suppliers. LightSpeed integrates with accounting software for management of AP.
Accounts Receivable (AR) - The balance owing/credit amount of a single Customer or of all Customers in relation to the Products purchased, trackable in LightSpeed.
Action Menu - A menu for additional features, signified by a "gear" icon.
Actions (Purchasing) - Categories of Products pending purchase.
Browser - The administrative window from which you can manage almost all aspect of LightSpeed, arranged in an easily accessible format for an overview of your business that lets you drill down to important detail.
Browser Toolbar - The section under the OS X menu that allows you to create new items, open up the Browser window when closed, or logs a User into the POS screen.
Build - A method that combines multiple Products, their quantities, and their Costs together to create a new Product that can then be sold as a single item.
Button Mode - A layout for the POS that groups popular Products together visually, allowing you to drill down through nested categories to find and invoice Products quickly.
Child Product - A size-color combination Product linked to a Master Product.
Class - A classification for Products used in searches, reporting, and Product Rules, along with Family.
Cost - The cost of a Product when purchased from a Supplier.
Cost Average - The average value per unit of all existing inventory for a single Product.
Custom Field - A field that may be added for data storage that does not already exist, and is one of three types - text, date, or checkbox. Can be used in searches and Smart Finds, and can be categorized as "printed" or "unprinted" for documents.
Customer - The term for a customer in LightSpeed that has a Customer card/profile in LightSpeed from which a purchase history may be tracked.
Customer Category - A Customer classification that is associated with a discount based on flat percentage and/or a particular Pricing Level.
Deposit - Money applied to a Customer and taken on a Quote, Order, or SRO. Does not affect AR balance until applied to an Invoice as a Store Credit.
Discount - The reduction of a Product's price as a relationship to the original Price. Can be set as a $ or % amount on a document or line-item basis.
End of Day - A report that summarizes the Payment Method totals for a specific day, and allows entry of actuals for comparison to determine discrepancies.
Family - A classification for Products used in searches, reporting, and Product Rules, along with Class. Also can be used to locate Products in Web Store.
Gift Card - A method that allows Customers to purchase a serialized gift card that can be redeemed toward the purchase of Product by the recipient.
Gift Receipt - An Invoice printed without price information.
Hold - The ability to temporarily "save" a POS Invoice for later reactivation.
Invoice - A sales document in either the POS or Browser that affects inventory levels when selling or returning Products, and where Payments affect a Customer's AR balance.
Job - Associated with Timesheets to have Users work on specific tasks that can eventually be converted into a Product that is sold to a Custoemr on an Invoice.
Master Product - The Product card that represents a common style among several size-color combination Child Products.
Master Store - The origin Store used in Multi-Store Replication to "push" Product information out to target Stores.
Matrix - The arrangement by which a retailer may link size-color combinations of a common style.
Order - A sales document that reserves inventory or creates a pending Order Request for eventual conversion to a Purchase Order. Can take deposits.
Order Request - A request for Product originating on an Order and yet to be compiled onto a PO.
Parking - The section that stores and displays "markers" for Browser items that can later be single-clicked to preview, or double-clicked to open.
Payment - Money taken on a Browser or POS Invoice and applied to a Customer's account. Affects the Customer's AR balance.
Point of Sale - The front-counter sales interface for processing transactions on a sales floor. Can be used in Scan Mode or Button Mode.
POS Categories - The method by which you can arrange Products in the POS Button Mode visually, using a Primary/Secondary/Tertiary nested system that allows a User to drill down to find a Product quickly.
Posting - The process of "finalizing" a transaction (Payment, Invoice, Supplier Invoice, Inventory Adjustment) before it can be exported to your accounting software.
Preview - A pane in both the POS and Browser layouts that allow the user to view general information about an item without being required to open it.
Pricing Level - One of ten alternate prices possible for Products. Can be accessed manually in sales documents or POS Invoices, or associated with Customer Categories for automated discounts.
Product - An item in LightSpeed that can be sold.
Product Rules - Rules that can be created to automatically apply pricing or attribute Actions to a group of Products.
Purchase Order - The document that orders items from Suppliers. Can be created from scratch, directly from an Order, or compiled by pending Order Requests.
Quote - A sales document that gives price information to clients, and can take deposits.
Related Product - A Product that may be associated with another Product as a suggested add-on that appears in the POS or a Browser document when . May also be marked for "auto-add" when its associated Product is added to a sales document.
Return - A negative amount of Product applied to an Invoice that may or may not be associated with an original "sale" Invoice.
Scan Mode - A layout for the POS that allows you to create Invoices using a barcode scanner.
Service Repair Order (SRO) - A sales document that accepts equipment repair book-ins, and allows you to record work performed, order parts, and accept deposits.
Store Credit - An outstanding credit on a Customer account that can be applied to an Invoice as a Payment.
Supplier - The source of Products purchased on POs.
Supplier Invoice - Represents a payable that is created when a Product is received from a Supplier. A Supplier Invoice is exported to your accounting software, where it is paid, then marked as "Paid" in LightSpeed.
Tax - The name of any tax applicable to your sales or purchases in LightSpeed, used in Tax Codes for setting actual rates to be applied to documents.
Tax Code - Arrangements of Taxes and their rates that apply to sales documents.
Tax Status - The arrangement of tax exemptions that apply to Products or Customers for particular Taxes.
Tills - The method with which to track payments taken at a sales station and with the association of a particular opening and closing balance.
Timesheet - Tracks the time a User is working. Can be a "general" Timesheet, or associated with a Job for specific work.
Tracker - A pre-defined set of criterion that notifies a User via the Browser when the number of items with its status changes.
Walk-In - Customer information that can be recalled but does not store or track buying information, including purchase history or outstanding AR balances.
Warehouse - A "virtual stockpile" for Products that allow you to track items in your inventory but you do not want showing as "Available".
Web Store - An add-on module for selling Products online that integrates with LightSpeed for configuration and order fulfillment.
