Glossary
Glossary
- Receivables Purchase
- Reference data model
- Remittance advice
- Remittance Information
- Request-To-Pay (RTP)
- Response Message
- Reverse billing or invoicing
- Reverse Charge VAT
- Reverse factoring
- Roaming
Receivables Purchase
Last modified on: 31/08/2022 22:29is a form of receivables finance and includes techniques such as receivables discounting, forfaiting, factoring, and payables finance. In all cases the finance provider purchases the receivable and becomes the owner of the claim on the debtor party.
Reference data model
Last modified on: 31/08/2022 22:29reference data is any kind of data that is used solely to categorize other data found in a database, or solely for relating data in a database to information beyond the boundaries of the enterprise. A reference data model provides a standard means by which data may be described, categorized, and shared.
Remittance advice
Last modified on: 31/08/2022 22:30is a notification sent by a customer to a supplier, to inform the supplier that their invoice has been paid.
Remittance Information
Last modified on: 31/08/2022 22:30is a reference issued by the seller used to establish a link between the payment of an invoice and the invoice instance. The reference helps the seller to assign an incoming payment to the invoice by using a reference such as the invoice number or a purchase order number. Remittance Information can be structured according to a standard or can be unstructured. The buyer should indicate this reference when executing the relevant payment and during the execution of the payment transaction the reference is transferred back to the seller as remittance information.
Request-To-Pay (RTP)
Last modified on: 31/08/2022 22:30Request to Pay is a secure messaging framework. It is an overlay on top of existing payment infrastructure and a flexible way to manage and settle bills between businesses, organisations and individuals.
Reverse billing or invoicing
Last modified on: 31/08/2022 22:31is an invoicing process whereby by agreement the customer prepares the supplier’s invoice and forwards a copy to the supplier at the time of or shortly before payment.
Reverse Charge VAT
Last modified on: 31/08/2022 22:31under EU VAT rules in relation to cross-border trade between Member States, it moves the responsibility for the recording of a VAT transaction from the seller to the buyer of a good or service and whereby the buyer, instead of the seller, is liable to pay VAT. In this way it eliminates or reduces the obligation for sellers to VAT register in the country where the supply is made. Certain domestic transactions may also be subject to Reverse Charge.
Roaming
Last modified on: 31/08/2022 22:31is a common expression in the e-invoicing world for interoperability with other service providers on behalf of their customers, based on the mobile telephony analogy. In fact, the analogy is imperfect since in e-invoicing the customer retains its primary connection with its service provider (SP), which then links with the other SP. In the case of mobile telephone roaming, the customer connects directly to another network and any charges are billed back to the customer’s primary network operator.