Business glossary and internal language
Agreeing what your own words mean. Prevents an entire class of confusion.
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.
What it means
An internal glossary defines the terms the business uses — what counts as a lead, an active customer, a completed job, revenue.
Why it matters
Two departments using the same word differently produces reports that disagree and meetings that go in circles.
What it looks like in practice
Define the handful that appear in reporting: lead, opportunity, customer, churn, complete. Write them down where the reports are.\n\nIt is the same discipline as a chart of accounts, applied to non-financial data.
What to watch out for
Definitions that drift when somebody changes a report. Version the definitions with the reports.
Where to get proper advice
Your own figures.
Where to read more
Last reviewed 2026-08-28 by Fiducia Together · Next review due 2027-08-28
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.
Fiducia Together