Trial balance
A list of every account balance, checked to see the books add up.
Business A to Z
Every trade has words it uses without explaining. In business the cost of not knowing one is real: some of them are ordinary jargon and some of them are a decision that can take a house. Five hundred of them, in plain English.
Please note: This page explains what a term means. It is general information, not legal, financial, tax or investment advice, and it does not know anything about your business. Before you sign, file or commit to anything, check it with an accountant, a solicitor, or the official guidance we link to.
Studying business? We write GCSE revision songs, and there is one for business studies. Listen to the revision playlist.
500 terms, showing 461–470 (page 47 of 50).
T
Trivial benefits and staff entertaining
Small gifts and the annual party. Exempt within specific limits, taxable outside them.
TUPE
Also called Transfer of Undertakings, Business transfer, Service provision change
Rules that move employees automatically to a new employer when a business or a contract changes hands.
TUPE for buyers and sellers
What TUPE means when you are the one buying or selling a business or a contract.
Turnover
Total sales before any costs. Not income, not profit, and the number people quote.
U
Unit economics
Whether one sale, one customer or one job makes money once everything it costs is counted.
Upselling and cross-selling
Also called Upsell, Cross-sell, Account expansion
Selling more to people who already buy from you. The cheapest revenue available and the most often forgotten.
Uptime
Also called Availability, Downtime, Nines
The proportion of time a service is working. Small-sounding percentages hide large amounts of downtime.
Uptime and incident response
What happens when a system goes down, and who does what.
Use of home as office
Claiming for working from home. Two methods, and one is much simpler.
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