Financial & Banking Glossary

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Bank Statement

A document issued by a bank summarizing all transactions in an account over a specific period, typically one month.

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CSV Format

Comma-Separated Values, a plain text file format where each line is a data record and fields are separated by commas.

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Bank Reconciliation

The process of comparing your financial records against your bank statement to ensure they match.

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PDF Format

Portable Document Format, a file format that preserves document layout regardless of software or operating system.

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WebAssembly

A binary instruction format that allows code written in languages like Python or C to run in web browsers at near-native speed.

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Client-Side Processing

Computing that happens entirely on the user's device (browser) rather than on a remote server.

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Transaction History

A chronological record of all financial transactions in a bank account over a given period.

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Bookkeeping

The systematic recording and organizing of financial transactions for a business or individual.

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Accounting Software

Applications that help businesses and individuals record, categorize, and report financial transactions.

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Data Import

The process of loading data from an external source (like a CSV file) into a software application.

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Data Extraction

The process of pulling structured data out of an unstructured or semi-structured source like a PDF.

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Data Privacy

The right and practice of controlling who has access to personal or sensitive information.

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Browser Security

The set of technologies and practices that protect data and users within a web browser environment.

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Pyodide

A Python runtime compiled to WebAssembly that lets Python code run inside a web browser.

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Spreadsheet

A software application that organizes data in rows and columns for calculation, analysis, and visualization.

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Financial Data

Information about monetary transactions, account balances, income, expenses, and other financial metrics.

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Account Balance

The amount of money available in a bank account at a specific point in time.

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Debit vs Credit

Debits decrease your bank account balance (money out); credits increase it (money in).

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OFX Format

Open Financial Exchange, an XML-based data format for exchanging financial information between institutions and software.

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Expense Tracking

The practice of recording and categorizing spending to monitor where money goes.

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Tax Preparation

The process of compiling financial information and filing tax returns with the IRS or state tax authorities.

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QFX Format

Quicken Financial Exchange, a proprietary variant of OFX used by Intuit's Quicken software for importing bank transactions.

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QIF Format

Quicken Interchange Format, an older plain-text format for transferring financial data between applications.

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Bank Feed

An automatic connection between a bank account and accounting software that imports transactions in real time.

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Chart of Accounts

A categorized list of all financial accounts used by a business to organize transactions in its accounting system.

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Double-Entry Bookkeeping

An accounting method where every transaction is recorded in two accounts: a debit in one and a credit in another.

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ACH Transaction

An electronic bank transfer processed through the Automated Clearing House network in the United States.

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Pending Transaction

A transaction that has been initiated but not yet fully processed and settled by the bank.

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Cleared Transaction

A transaction that has been fully processed, settled, and permanently recorded on your bank account.

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Statement Period

The date range covered by a bank statement, typically one calendar month.

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Running Balance

A cumulative account balance shown after each transaction on a bank statement.

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Check Number

A unique sequential number printed on each check, used to identify and track individual check payments.

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Wire Transfer

An electronic transfer of funds between banks, typically used for large or urgent payments.

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Direct Deposit

An electronic payment deposited directly into a bank account, commonly used for payroll and government benefits.

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Overdraft

When a bank account balance goes below zero because a transaction exceeds the available funds.

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NSF Fee

Non-Sufficient Funds fee, charged when a transaction is declined because the account lacks adequate funds.

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Interest Rate

The percentage charged by a lender for borrowing money, or paid by a bank for holding deposits.

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Annual Percentage Yield

The effective annual rate of return on a deposit account, taking into account the effect of compound interest.

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FDIC Insurance

Federal Deposit Insurance Corporation protection that guarantees bank deposits up to $250,000 per depositor, per bank.

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Routing Number

A nine-digit code that identifies a specific bank or credit union for processing electronic transactions.

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Account Number

A unique number assigned by a bank to identify a specific customer account.

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Memo Field

An optional text field on a transaction that contains additional notes or reference information.

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Payee

The person, business, or entity receiving a payment in a financial transaction.

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Transaction Date

The date when a financial transaction was initiated or occurred.

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Posting Date

The date when a bank officially records a transaction to an account, which may differ from when the transaction occurred.

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Batch Processing

Processing a group of transactions or files together as a single unit rather than individually.

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Data Validation

The process of checking data for accuracy, completeness, and conformity to expected formats.

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File Encoding

The character encoding system used to represent text in a file, such as UTF-8 or ASCII.

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Delimiter

A character used to separate fields in a data file, such as a comma in CSV or a tab in TSV.

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Header Row

The first row of a CSV or spreadsheet file that contains column names rather than data.

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Duplicate Detection

The process of identifying and preventing repeated entries when importing financial data.

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Transaction Categorization

The process of assigning spending or income categories to individual bank transactions.

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Cash Flow Statement

A financial report showing how cash moves in and out of a business over a specific period.

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Profit and Loss Statement

A financial report summarizing revenues, costs, and expenses to show whether a business made a profit or loss.

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Balance Sheet

A financial statement showing a company's assets, liabilities, and equity at a specific point in time.

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General Ledger

The master record of all financial transactions for a business, organized by account.

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Journal Entry

A formal record of a financial transaction in the accounting system, with debits and credits.

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Fiscal Year

A 12-month period used for accounting and financial reporting, which may or may not align with the calendar year.

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Audit Trail

A chronological record of all changes and transactions that provides evidence of financial activity and data integrity.

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Bank Charges

Fees levied by a bank for account services, transactions, and account maintenance.

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Electronic Funds Transfer

Any transfer of money between accounts that is initiated through electronic means rather than paper checks.

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Mobile Banking

Banking services accessed through a smartphone or tablet application.

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Online Banking

Managing bank accounts and conducting financial transactions through a bank's website.

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Statement Descriptor

The text that appears on a bank or credit card statement to identify a specific transaction.