Glossary

3-way matching refers to a three-step process of matching three key documents before processing a payment to a supplier.

30-day and 13-week operating cash burn are also known as the “burn rate.” These are the rates at which a business consumes its cash reserves.

AI billing is the process of metering, pricing and charging for AI-powered features within SaaS products.

AI revenue recognition refers to two things: first, it refers to using artificial intelligence for revenue recognition automation in accounting systems.

Accounting Standards Codification (ASC) 606 is a standard framework for revenue recognition developed by the Financial Accounting Standards Board (FASB).

Account reconciliation is the process of comparing two sets of records to ensure their accuracy and consistency.

Accounts payable (AP) refers to the amount of money that a business owes to its suppliers or creditors for goods or services purchased on credit.

Accounts payable automation (AP Automation) refers to the use of technology and software solutions to streamline and optimize the accounts payable process.

Accounts Payable Days (AP Days), also referred to as Days Payable Outstanding (DPO), is a financial ratio.

Accounts payable turnover explains how many times a business pays its creditors in a set timespan.