LayerNext Glossary

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

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1099 Vendor

A

Accounts Payable
Accrual Accounting
Accounts Payable Audit
Accounts Payable Automation
Accounts Payable Turnover Ratio
Accrued Expenses
ACH Payment
Accounts Payable Aging Report
Accounts Payable Process
Accounts Receivable
Audit Trail
ACH Return
AIA Billing
Accounts Payable Outsourcing
Accounts Payable Workflow
Approval Workflow

B

Bank Reconciliation
Burn Rate
Batch Payment Processing
Bad Debt Expense
Break-Even Point
Balance Sheet
Blanket Purchase Order
Bill of Materials

C

Cash Flow
Cash Conversion Cycle
Credit Memo
Capex vs. Opex
Chart of Accounts
Cost Center
Cash Basis Accounting
Consignment Inventory
Current Ratio vs. Quick Ratio
Cost of Goods Sold
Contribution Margin
Cash Flow Forecast
Cost Allocation
Cash Disbursement
Change Order
Certificate of Insurance

D

Deferred Revenue
Days Payable Outstanding
Depreciation
Duplicate Invoice
Debit Memo
Days Inventory Outstanding
Debt-to-Equity Ratio
Days Sales Outstanding
Direct Cost vs. Indirect Cost
Dynamic Discounting

E

EBITDA
Electronic Invoicing
ERP Integration
Expense Management
Escheatment
Electronic Data Interchange
EBITDA Margin
ERP Implementation

F

Financial Statement
Fixed Assets
FOB Shipping Point vs. FOB Destination
Free Cash Flow
Freight Audit and Payment

G

General Ledger
Gross Margin
Goods Receipt Note
Going Concern
GL Coding

I

Income
Invoice Capture
Invoice Approval
Invoice Processing
Invoice Reconciliation
Internal Controls
Income Statement
Intercompany Transactions
Inventory Shrinkage
iPaaS
Intelligent Document Processing

J

Journal Entry
Job Costing

K

Kitting

L

Landed Cost
Lockbox
Lien Waiver
Legacy System Modernization

M

Month-End Close
Materiality
Material Requirements Planning

N

Non-PO Invoice
Net Working Capital

O

Operating Cycle
On-Premise vs. Cloud ERP

P

Procure-to-Pay
Purchase Order
Payment Automation
Purchase Requisition vs. Purchase Order
Proforma Invoice
Positive Pay
Payment Terms
Prepaid Expenses
Petty Cash
Payment Reconciliation
Progress Billing
Procurement Policy
Punch-Out Catalog

R

Recurring Expense
Remittance Advice
Retained Earnings
Reorder Point
Retainage
RFP vs. RFQ vs. RFI
Robotic Process Automation

S

Spend Management
Supplier Onboarding
Supplier Statement Reconciliation
Segregation of Duties
Statement of Cash Flows
Standard Cost vs. Actual Cost
SG&A
Same-Day ACH
Straight-Through Processing
Schedule of Values
Supply Chain Finance
System of Record

T

Three-Way Matching
Tail Spend Management
Trial Balance
Treasury Management

V

Vendor Invoice Management
Variance Analysis
Vendor Scorecard
Vendor Compliance
Vendor Managed Inventory

W

Work in Process Inventory

Z

Zero-Based Budgeting