1. GAAP- An abbreviation for “generally accepted accounting principles.”

  2. Gearing: When money is borrowed with fixed interest with the purpose of leveraging that money for further financial gain. Also known as leveraging.

  3. General Ledger: A repository for compiling all of a company’s accounting information. Also known as the book of entry, it provides all of the required data for preparing financial statements.

  4. General Ledger Project Type - In Muli we have one overhead project each year. For each Company the project is always in Profit centre Z. These projects only have cost allocations 000 to 9997. All overhead allocations are presented in the Profit & Loss or Balance Sheet.

  5. Geographical Location  - Where a company is spread over a number of geographic areas, tracking individuals is an issue, thus gives a central location registration.

  6. Goodwill: The difference between the fair value and book value of an asset. Examples of goodwill involve overpayment by way of upholding a company’s reputation or rewarding customers for their loyalty.

  7. Government Year The Government, for taxation purposes, can have a different start and finish to your Financial Year. In Australia, the End of the Government Year is 30 June.

  8. GPS Type 224

  9. Gross: The profit margin before making any deductions or discounts.

  10. Gross Margin: The contribution on a project makes to overhead.

  11. Group 452

  12. Group Income - All group companies have a * prefix in the Supplier codes. Mul can assist in achieving consolidated accounting reports. Organisations with a * or $ prefix are considered Group and values should be excluded from consolidated accounts.

  13. Group Type

  14. Growth and Acquisition: A method with which a business can grow. Growth explains how a company can grow and expand its operations. Acquisition is growth by buying other companies.

  15. G.S.T - Goods & Services Tax. Also known as Value Added Tax. This tax is added to all invoices received and paid. In Muli, GST is added and deducted to the invoice at the General Ledger and does not appear in the project. unless the Gst component is not recoverable ie on Entertainment.

  16. G.S.T 319

  17. G.S.T Amount

  18. G.S.T code 321

  19. G.S.T Credit

  20. GST Value (AP) - The value of GST on the invoice (or if an Adjusted S/C Progress Claim), the value of GST applicable to the Subcontract approved amount. PS: While Muli calculates the default GST value, we recommendd that Users adjust the value in line with the issued invoice.

  21. GST Exempt

  22. Guarantee Value