Glossary

Accrual accounting is an accounting strategy that records payments and expenses when they are earned and incurred. This is different from cash accounting where revenue is recognized when it is actually deposited or transferred. 

Advanced billing refers to sophisticated billing practices or capabilities that go beyond basic billing functionalities to address complex billing scenarios, accommodate specialized pricing structures, and support advanced revenue recognition requirements.

Advanced electronic bank payments typically refer to sophisticated electronic payment methods and systems that enable businesses to execute various types of transactions with their banks electronically, often leveraging advanced technologies and automation capabilities.

Advanced inventory refers to a comprehensive and feature-rich inventory management system or module within an enterprise resource planning (ERP) software or inventory management software.

Advanced reporting refers to a sophisticated approach to generating and analyzing reports using advanced tools, techniques, and technologies.

Advanced Revenue Management (ARM) refers to a set of strategies and practices used by businesses to automate, streamline, and ensure accurate revenue recognition according to accounting standards.

Annual Contract Value (ACV) is a metric used to assess the average yearly revenue generated by a single customer contract. It helps businesses understand the annualized worth of their customer base, focusing on recurring revenue streams.

Annual Recurring Revenue (ARR) is a key metric used by subscription-based businesses to track and measure their predictable, recurring revenue streams over a one-year period.

Automated cash application (also known as automated cash posting or automated cash matching) is a process in accounting and financial management that uses technology and algorithms to match incoming payments or cash receipts with corresponding invoices or accounts receivable entries in an organization's financial records.

An Automated Clearing House (ACH) is an electronic network that facilitates the transfer of funds between bank accounts in the United States (and internationally with some variations).