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Glossary

Glossary

Account Information Service Provider (AISP)

Last modified on: 14/03/2022 14:02

An authorised entity that provides aggregation services related to payment accounts such as bank accounts. PSD2 allows AISPs authorised access to bank account data through an API.

Account Servicing Payment Service Provider (ASPSP)

Last modified on: 15/07/2022 09:38

Payment Service Provider (PSP) (bank or card issuer) that provides authorised access to bank account information. For PSD2 they are allowing API access to bank account data for AISPs and PISPs.

Accounts Receivable

Last modified on: 15/07/2022 09:39

are monies owed to a supplier by its customers arising in the normal course of business from the delivery of goods and services. They are usually represented by outstanding invoices.

Acknowledgement of Receipt

Last modified on: 15/07/2022 09:39

A documented verification that goods have been received or services have been rendered. Typically, the acknowledgement is indicated by the recipient’s signature on a receipt or form.

Adherence Agreement

Last modified on: 15/07/2022 09:40

in the GENA Multilateral Framework Agreement (MIFA) is an agreement entered into with another framework participant to agree the business profile of documents to be exchanged, and any specific aspects such as compliance requirements consistent with the common elements specified in the MIFA.

Advanced Electronic Signature

Last modified on: 10/08/2022 23:00

is an electronic signature that has met the requirements set forth in EU Regulation No 910/2014 (e-IDAS-regulation) on electronic identification and trust services for electronic transactions in the EU internal market.

Aggregator

Last modified on: 10/08/2022 23:00

a service model whereby invoices from/to multiple senders are received at/sent from a single point of contact, acting as a service provider; sometimes referred to as a consolidator.

Allowance or Charge Information

Last modified on: 10/08/2022 23:01

A group of information elements setting out details of allowances, or charges and taxes other than VAT, applicable to an individual invoice line item in an invoice.

Application Programming Interface (API)

Last modified on: 10/08/2022 23:01

A set of programming that are available for software developers when they integrate with a particular service or application.

Archiving

Last modified on: 10/08/2022 23:01

data archiving is the process of moving completed transactional data to a separate storage device or location for long-term retention. Archived data consists of data that is still important to an organization and may be needed for future reference, as well as data that must be retained for regulatory compliance.

AS2

Last modified on: 10/08/2022 23:02

stands for Applicability Statement 2 and is a commonly used specification about how to transport data securely and reliably over the Internet. Security is achieved by using digital certificates and encryption.

AS4

Last modified on: 10/08/2022 23:03

is an open standard for the secure and payload-agnostic exchange of business-to-business documents using web services. Secure document exchange is governed by aspects of web services security, including XML encryption and XML digital signatures. Payload agnosticism refers to the document type (e.g. purchase orderinvoice, etc.) not being tied to any defined SOAP (Simple Object Access Protocol) action or operation. AS4 is increasingly recommended as the successor to AS2.

AS4 Receipt

Last modified on: 10/08/2022 23:03

the synchronous response on an AS4 request which corner 3 ( receiver’s service provider) returns to corner 2 ( sender’s service provider) in a four-corner model network to acknowledge receipt of a message. It provides a unique reference to the message being exchanged.

Attachment

Last modified on: 10/08/2022 23:03

refers to a document or dataset provided or archived in addition to an invoice containing supporting information such as expense details. It may also refer to the practice of rendering a PDF invoice as an attachment to an email.

Audit

Last modified on: 10/08/2022 23:04

is a systematic and independent examination by an auditor, whether external or internal, or a regulator of the books, accounts, and documents of an organization to ascertain how far the financial statements, records and non-financial disclosures present a true and fair view of the concern and its transactions. Audits are commonly carried out on VAT invoices on a post-transaction basis to ascertain the correctness of treatment and of the resultant tax liabilities.

Audit Trail

Last modified on: 10/08/2022 23:04

is a chronological record that provides documentary evidence of the sequence of activities that have affected at any time a specific operation, procedure, transaction or event. The auditing of an invoicing process may involve the review of an audit trail to report matching of orders, deliveries, invoices and payments to prove authenticity and integrity of the invoice, and the appropriateness of business controls.

Audit Trail or Log

Last modified on: 10/08/2022 23:04

is a chronological record that provides documentary evidence of the sequence of activities that have affected at any time a specific operation, procedure, transaction or event. The auditing of an invoicing process often involves the review of an audit trail to report matching of orders, deliveries, invoices and payments to prove authenticity and integrity of the invoice, and the appropriateness of business controls.

Authenticity and Integrity

Last modified on: 10/08/2022 23:05

‘Authenticity of the origin’ means the assurance of the identity of the supplier or the issuer of the invoice and ‘Integrity of content’ means that the required invoice content has not been altered at any point after its issuance. They are key aspects of VAT regulations affecting invoices.

Automated Clearing House (ACH)

Last modified on: 10/08/2022 23:05

An electronic clearing system in which payment orders are exchanged amongst participants and handled by a data-processing centre.

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