Invoicing & Finance Glossary
42 billing and finance terms explained in plain English — with examples. Never be confused by an invoice term again.
Net 30 →Net 15 →Net 60 →Due on Receipt →Proforma Invoice →Remittance →Remittance Advice →Purchase Order Number →Invoice Number →Tax Invoice →VAT (Value Added Tax) →GST (Goods and Services Tax) →Sales Tax →Withholding Tax →Reverse Charge →Line Item →Subtotal →Early Payment Discount (2/10 Net 30) →Late Payment Fee →Dunning →Accounts Receivable →Accounts Payable →Aging Report →Write-Off →Bad Debt →Retainer →Milestone Billing →Progress Billing →Time and Materials →Fixed Fee →Billable Hours →Disbursement →Markup →Margin (vs Markup) →Cost-Plus Pricing →Statement of Account →Credit Memo →Debit Memo →Invoice Factoring →E-Invoicing →Peppol Network →Quote Validity Period →