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  • Salary � The wages and benefits an employee receives from an employer.

  • Sales � Total value of goods or services sold by a company in a period of time, often called turnover or revenue.

  • Sales tax � A US state or local government tax levied on goods and services, the amount of tax is based on a percentage of the selling price.

  • Savings account � An account with financial institution which pays interest on balances held, usually once or twice per year, the amount of interest usually depending on to the amount of money in the account.

  • Savings bond � A government bond issued in face value denominations from to ,000, with local and state tax-free interest and semiannually adjusted interest rates.

  • SBA Loan � A loan for small businesses that are unable to secure financing on reasonable terms through normal lending channels. The SBA program operates through private-sector lenders providing loans, which are guaranteed by the Small Business Administration (SBA.)

  • Schedule D � Tax schedule under which a self-employed person's profits are assessed.

  • Second mortgage � Taking out of a mortgage on a property which is already mortgaged, this can be used to raise capital if the property has significantly increased in value.

  • Secured bond � bond which is secured by the guarantee of assets or collateral.

  • Secured creditor � A creditor who has a charge over the assets of a debtor in the event of the debtor failing to meet his/her obligations.

  • Secured loan � A loan where the borrower offers an asset to which the lender has access in the event of the borrower failing to make the loan repayments.

  • Self-directed IRA � An IRA that the account holder can after appointing a custodian manager to carry out investment instructions.

  • Self-employed income � Taxable income of a person involved in a sole proprietorship or other sort of free-lance work.

  • Self-employment tax � The tax self-employed people must pay to qualify them to receive Social Security benefits at retirement.

  • Self-liquidating loan � A loan to finance current assets. The sale of the current assets provides the cash to repay the loan.

  • Seller financing� Funding a purchase by a seller's loan to the buyer, the buyer takes full title to the property when the loan is fully repaid.

  • Seller's market � A market in which demand exceeds supply, so the seller can dictate the price and the terms of sale.

  • Short-term � Investments with a maturity of one year or less.

  • Short-term bond � A bond mutual fund holding short to intermediate-term bonds that have maturities of three to five years.

  • Short-term debt � Any debt obligations, recorded as current liabilities, requiring payment within the year.

  • Short-term financial plan � A financial plan that covers the coming fiscal year.

  • Short-term gain or loss � A profit or loss realized from the sale of securities held for less than a year that is taxed at normal income tax rates if the net total is positive.

  • Short-term investment services � Services that assist firms in making short-term investments.

  • Short-term solvency ratios � Ratios used to judge the adequacy of liquid assets for meeting short-term obligations as they come due, including (1) the current ratio, (2) the acid test ratio, (3) the inventory turnover ratio, and (4) the accounts receivable turnover ratio.

  • Short-term tax exempts � Short-term securities issued by states, municipalities, and quesi-government entities such as local housing and urban renewal agencies.

  • Shrinkage � Discrepancy between a firm's actual inventory and its recorded inventory due to theft, deterioration, loss, or clerical problems.

  • Simple interest � Interest that is normally paid annually, which is earned on deposited capital only. Unlike compound interest, the annual interest is not added to the capital.

  • Small business factoring � the process of purchasing commercial accounts receivable (invoices) from a small business at a discount to provide cash flow.

  • Revolving Credit � It is the same thing as a line of credit: an amount of money, which a business can borrow against at times it needs capital. Often accessed by check, ATM, or business card.

  • Secured Loan � A loan secured by specific collateral. Creditor may foreclose and seize the specific property that is collateral to satisfy an unpaid secure loan.

  • Small Business Administration � Established by Congress, the SBA provides financial, technical and management assistance to help Americans start, run, and grow their businesses.

  • Subsequent Draw Fee � It's a fee that the financial institution may charge each time you use the line of credit after the initial use.

  • Social security tax � A U.S. Federal tax imposed on income and paid equally by employer and employee up to a maximum income level.

  • Spot factoring � The process of purchasing a single commercial accounts receivable invoices from a business at a discount.

  • Spot price � The price for a currency, index, commodity or share for immediate settlement or delivery as opposed to a futures price.

  • Statement of account � A document, issued by a supplier to its customer, listing transactions over a given period, normally monthly. It will include details of invoices, payments received and any credits approved with a balance payable.

  • Stop payment � Order given a depository institution not to pay out cash for a check, which is often used when the check has been lost or stolen.

  • Small Business Factoring � Factoring using single invoice or spot or invoice factoring to speed up cash flow, increase working capital and grow small businesses.

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