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

Your firm will be able to hold funds in multiple currencies if you have a multi-currency bank account. When conducting a business across borders, having a multi-currency account can help y...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 self-service portal is a website or app that enables workers (or external clients for externally visible support providers) to help themselves when they require assistance, information, ...read more

Invoice is time-stamped commercial document that itemizes and records a transaction between a buyer and a seller. If products or services were acquired on credit, the invoice would general...read more

Many financial management chores for your consumers are included in managing a homeowner's association (HOA). It's all part of the job, from paying invoices to balancing the finances. The ...read more

Trading money electronically is known as online payment. Computer networks, the internet, and digital stored value systems are commonly used in this process. You accept an online payment w...read more

Dunning Management is a crucial feature of software that helps businesses effectively handle recurring payments and overdue accounts. It streamlines the process of tracking and collecting ...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