Cash Flow Management Software Glossary: Key Terms & Concepts

The overall accounts payable (AP) balance of a corporation at a given moment in time will appear in the current liabilities column of its balance sheet. Accounts payable are debts that mus...read more

The term "accounts receivable" refers to a company's unpaid bills or the money owed to it by customers. Accounts that a company is entitled to receive as a result of delivering a product o...read more

A bank reconciliation statement reconciles an entity's bank account with its financial records. The statement lists all deposits, withdrawals, and other transactions in a bank account over...read more

An invoice and a bill are documents that convey the same information about the amount owing for the sale of goods or services. Still, a company uses an invoice to collect money from its cu...read more

The practice of collecting and managing cash flows is known as cash management. Individuals and businesses both benefit from good cash management; it is an essential part of a company's fi...read more

When a firm refers to money owed to them by a customer, it is referred to as collections. When a consumer fails to pay a company within the agreed-upon terms, the bill becomes past due and...read more

Purchasing is a method by which an individual or organization acquires goods or services to achieve its objectives. Despite the efforts of numerous organizations to establish purchase stan...read more

A tax is a governmental mandatory financial charge or levy imposed on a taxpayer to fund certain public expenses. The taxation system is critical for a country's economy since money is req...read more

A performance metric is just a metric that measures how well something works. For example, you can use project performance metrics to track progress when managing a project. Metrics are ch...read more

Financial management is a process of planning, organizing, regulating, and monitoring financial resources to meet the goals and objectives. It is ideal for controlling an organization's ec...read more

Reporting is the process of organizing data into informational summaries in order to track how various components of a business are performing. This includes calculating critical data and ...read more

The process of welcoming new clients, ensuring that their inquiries and concerns are addressed, and delivering new products and services as needed is called onboarding. Depending on the fi...read more

A real-time email marketing dashboard displays metrics. This allows individuals to track the effectiveness of an email marketing initiatives, as well as provide insight into what they can ...read more

A quantitative measure of performance over time for a specific goal is referred to as a "key performance indicator." KPIs provide teams with goals to aspire for, milestones to track progre...read more

A report is a type of writing that is organized around identifying and examining issues, events, or results that have occurred in the physical world, such as occurrences within an organiza...read more