Glossary — BookTrove user guide

Approval (maker-checker): A second person approves a document before it is posted. The person who prepared it cannot approve it while another approver exists.
BOM: Bill of materials: the inputs, yield and operations needed to make a product.
CBN rate: The Central Bank of Nigeria's official exchange rate, fetched daily into BookTrove.
Control account: A ledger account such as Accounts receivable or Inventory whose balance equals the total of a sub-ledger.
Domiciliary account: A bank account in Nigeria held in a foreign currency, such as US dollars or euros.
Draft / submitted / posted: The stages of a document. Only posted documents affect the ledger.
ECL: Expected credit losses on receivables (IFRS 9).
External accountant: An adviser from an outside firm with accountant's rights in the client companies they are invited to. Does not take a seat.
FOB: Free on board: the buyer takes over the goods once they are loaded on the ship.
GRN / goods received: The record that goods ordered have arrived; it adds them to stock.
Landed cost: Costs such as haulage added to the cost of the goods they relate to.
Lock date: The date up to which the books are closed. Soft lock: only owners, administrators and accountants can post. Hard lock: nobody can.
Lot: A batch of stock tracked by number, with its own dates and cost, so it can be traced from purchase to sale.
MO: Manufacturing (production) order.
MRP: Material requirements planning: what to buy or make to meet orders.
NRS: Nigeria Revenue Service, which receives e-invoices and tax returns.
NTA 2025: The Nigeria Tax Act 2025.
Outturn / yield: The weight of product obtained from the raw material, as a percentage.
Revaluation: Restating foreign-currency balances at the period-end rate; the difference is an unrealised exchange gain or loss.
Seat: One person counted towards the users included in the subscription.
Single sign-on (SSO): Opening BookTrove from troveuniverse.com without typing a BookTrove password.
Three-way match: Checking a bill against its purchase order and goods received before it is paid.
Tracking category: A tag such as Location or Product line on transactions, for reports by department, branch or product.
Two-factor authentication: A second step at sign-in: a six-digit code from an app on your phone.
VAT0 / zero-rated: VAT at 0%, used for exports; input VAT on related costs can still be recovered.
WHT: Withholding tax deducted from payments to suppliers and paid to the tax authority; the supplier gets a credit note.