bank relation
A bank account of your company. The bank relation definition includes details such as your bank account number, account type, the international bank account number, the bank's currency and whether other currencies are allowed, and whether the account is a blocked account.
batch
A group of financial transactions processed together. If you finalize a batch, all the transactions are processed, or if an error occurs, no transactions are processed.
business-function model
A part of a business model that is built from a selection of business functions that are initially created in the repository.
creditor identifier (CI)
A country-specific code which allows debtors as well as debtor banks to return to the creditor for refunds and complaints, and to check the existence of a mandate at the presentation of a collection by the creditor. A creditor identifier always refers to a one creditor. However, a single creditor may use more than one CI for the initiation of collections in all SEPA countries.
The creditor identifier consists of up to 35 characters, with this format:
- Positions 1 and 2 contain the ISO country code of the creditor.
- Positions 3 and 4 contain the check digits based on the 97-MOD ISO check algorithm.
- Positions 5 to 7 contain the user-definable creditor business code. If this code is not used, the value is set to 'ZZZ'.
- Positions 8 up to 35 contain the country-specific identifier that can be based on tax ID, SIRET (France), Chamber of Commerce ID (Netherlands), etc.
CI
hold reason
A code attached to a purchase invoice to block the payment of that invoice.
international bank account number
International Bank Account Number. An international standard account identifier for identifying an account held by a financial institution, in order to facilitate automated processing of cross border transactions. The IBAN is provided by the bank/branch servicing the account.
IBAN
payment agreement
A way to define how invoice amounts must be paid. This includes the payment methods that apply to various parts of the invoice amount, and the payment currency.
For example, you can define a payment agreement to pay the first part of the invoice amount through the bank according to payment method PM1, 40 percent of the remaining amount, according to payment method PM2, and the other 60 percent according to payment method PM3, which can be a trade note payable.
payment method
The method used to create a payment (purchase invoice) or a receipt (sales invoice).
The payment method defines details such as:
- The maximum amount
- The due date
- Allowance of foreign currencies and other details which must be printed on the report
These are default values that you can change on the order or on the invoice.
pay-to business partner
The business partner to whom you pay invoices. This usually represents a supplier's accounts receivable department. The definition includes the default currency and exchange rate, the supplier's bank relation, the number of days within which you must pay the invoices, and if the business partner uses a factoring company.
standing order
An order to which no invoices are linked, for example, recurring payments.
UTC time
The acronym for Universal Time Coordinated, the time system that is similar to Greenwich Mean Time (GMT). The UTC's reference point is Greenwich, England located at 0° longitude, the imaginary north-south line also known as the prime meridian. When it is noon at Greenwich, it is 12:00:00 UTC.
wizard
A special form of user assistance that automates a task by setting the parameter values within a business model and which directs the software to meet the specific requirements of an organization.