Glossary of terms


The currency reflected in your invoice (eg: US Dollars="USD").


Days Sales Outstanding or DSO
Days sales outstanding reflects the average number of days it takes to collect receivables.



The dollar amount (calculated by multiplying the gross amount of the invoice times the discount rate) that is deducted from the gross amount of the invoice in exchange for the accelerated payment of an invoice.


Discount Date

A date earlier than the ordinary payment date on which you receive an accelerated payment on an invoice in exchange for a discount.


Discount Rate

The percentage of the gross amount of an invoice that you agree to apply to the gross amount of the invoice in exchange for accelerated payment of the invoice by the discount date.


Gross Amount

The total amount due on an invoice on the ordinary payment day without deduction of the discount.


Improvement Days

The improvement days refers to the number of days your payment may be initiated prior to the ordinary payment day assigned by your customer.


Invoice Date

The date on which your customer receives an invoice in proper form and goods and services conform to the purchase order.


Invoice Number

The invoice number or reference number your company assigns to a particular invoice for identification purposes.


Ordinary Payment Date

The day on which payment of the invoice is due.


Paid Amount

The amount paid on a particular invoice. This amount will be the difference between the gross amount of the invoice and the discount. (Note: Paid amount will be equal to the gross amount on invoice(s) that are approved after the discount date unless you select Immediate Pay).


PO Number

The number that appears on your client's purchase order to identify and track purchases.


Supplier/Vendor Number

The number assigned by your client to identify your company in their accounts payable and procurement systems.