In accounting, as well as in different countries or ERP systems some terms may vary. This list has the most common terms we are using in Ocerra.
In the system
Invoices = AP bills, bills
Vendors = Suppliers
Due date = Terms if no due date on the invoice
PO = Purchase Order, Order, Work Order
Net = Net amount, sub total, before GST
Total = Gross amount, Summary, Including GST
GST = VAT
Tax Number = GST Number or ABN Number
Account = Tax account, GL account, GL code
Tax = Tax rate, tax type
Credit Notes = Credit memos, Debit Adjustments
Voucher = Invoice. We use the term Voucher in Ocerra for all unapproved invoices.
OCR = Optical Character Recognition
ML = Machine Learning
AI = Artificial Intelligence
Open API = Swagger
API = Application Programming Interface
AP - Accounts Payable
If you come across any other terms, please let us know, we will add it to the list!