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right word usage in math/finance

Posted on 2011-09-26
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could you suggest what is the right words to use in terms of grammar and also proper current usage in government/bank etc
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Question by:25112
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by:25112
ID: 36599123
this will be used as field names in databases.

short and right word to describe what was the debt at the end of last quarter  and also start of this quarter ?

QuarterDebtEnd or EndingQuarterDebt or ClosingQuarterDebt
StartingQuarterDebt, QuarterDebtBegin or beginningQuarterDebt
QuarterInterestPaid, QuarterInterestRatePaid, Quarter%Paid
or anything else
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Expert Comment

by:David L. Hansen
ID: 36599806
See "Accounts Payable" here
http://en.wikipedia.org/wiki/Accounts_payable

see also "Accounts Receivable"
http://en.wikipedia.org/wiki/Accounts_receivable
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TommySzalapski earned 1000 total points
ID: 36599957
If the 'debt' is unpaid invoices or something similar then I agree with sl8rz and would use AccountsPayable.
If it's remaining debt on a loan (which I'm guessing it is because of the interest fields), then I would just use LoanBalance. Closing and Opening are better words than Ending and Starting if you really want to include that. But it doesn't really matter that you are at the end of a quarter. Whether you are at the end of a week, a quarter, or a year, the number is the same so I don't see the need to include the expected timeframe in the name.
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by:David L. Hansen
David L. Hansen earned 1000 total points
ID: 36600070
The fact that you want to include the time frame concerns me.  Good database structure is independent of time (until you query it, then you impose a time frame).  You should have a general ledger that keeps track of your expenses and incomes.  The entries have date stamps, but the table itself should not denote any kind of time frame.  Just think of it as a long list of receipts.  I can point you to some ERDs (Entity Relationship Diagrams) that show you more detailed descriptions of complex accounting systems, but for now the general ledger concept is important to grasp.
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by:25112
ID: 36600632
we have started discussing that.. thanks for the valuable input
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