LayerNext Glossary

A comprehensive guide to understanding key terms and concepts used in LayerNext.

0-9

A

Accounts Payable

Accrual Accounting

Accounts Payable Audit

Accounts Payable Automation

Accounts Payable Turnover Ratio

Accrued Expenses

Accounts Payable Aging Report

Accounts Payable Process

Accounts Receivable

B

Bank Reconciliation

Batch Payment Processing

Bad Debt Expense

Break-Even Point

Blanket Purchase Order

Bill of Materials

C

Cash Conversion Cycle

Chart of Accounts

Cash Basis Accounting

Consignment Inventory

Current Ratio vs. Quick Ratio

Cost of Goods Sold

Contribution Margin

Cash Flow Forecast

Cost Allocation

D

Deferred Revenue

Days Payable Outstanding

Duplicate Invoice

Days Inventory Outstanding

Debt-to-Equity Ratio

Days Sales Outstanding

Direct Cost vs. Indirect Cost

E

Electronic Invoicing

ERP Integration

Expense Management

Electronic Data Interchange

F

Financial Statement

FOB Shipping Point vs. FOB Destination

G

Goods Receipt Note

I

Invoice Capture

Invoice Approval

Invoice Processing

Invoice Reconciliation

Internal Controls

Income Statement

Intercompany Transactions

Inventory Shrinkage

J

L

M

Month-End Close

N

Net Working Capital

P

Payment Automation

Purchase Requisition vs. Purchase Order

Proforma Invoice

Prepaid Expenses

R

Recurring Expense

Remittance Advice

Retained Earnings

S

Spend Management

Supplier Onboarding

Supplier Statement Reconciliation

Segregation of Duties

Statement of Cash Flows

Standard Cost vs. Actual Cost

T

Three-Way Matching

Tail Spend Management

Treasury Management

V

Vendor Invoice Management

Variance Analysis

Vendor Scorecard

Z

Zero-Based Budgeting