Business JargonsBy:

Gaurav Agarwal

RECONCIL

To explain or account for the difference between two amounts

BILLBACK

Term used to describe a situation where a branch charge back a supply for quantity/price discrepancies or for miscellaneous charges

RIF

A generic reduction in force, of undetermined method. Often pronounced like the word riff rather than spelled out. Sometimes used as a verb, as in "the employees were pretty heavily riffed".

ORO

Office Records Only -A term used to refer to a cost only entry, indicating that no documentation need be sent to the customer.

TRANSACTION REGISTER

A detail of all transactions affecting a particular account in a given fiscal month

SIMS INVENTORY

Computerized system that tracks inventory at each Facility location by Vender Catalog

OOO

Out Of Office- Person not available on his/her desk at that time

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