SupportLoginSign Up Learning Center Resources on basic accounting and payment terms business owners must know. ACH BANKING PAYMENTS ACH ACH check ACH (Automated Clearing House) checks are essentially electronic checks (sometimes called e-checks), or paperless checks. Learn More ACH payment What is an ACH payment, how does it work, and what are the benefits and drawbacks of using ACH payments versus other payment methods? Find out more here! Learn More ACH processing Learn about ACH processing, the different types of ACH payments, and how ACH processing is a safe, fast, and cost-effective way to pay and get paid. Learn More ACH transfers An ACH transfer is a specific category of electronic funds transfer. There are two types: ACH debit and ACH credit. Learn More BANKING Account number A bank account number is a string of numerals (and sometimes letters) that’s designed to identify an individual bank account and its owner. Learn More International bank account number (IBAN) An international bank account number (IBAN) identifies an international or overseas bank account according to a standardized international numbering system. Learn More Routing number A routing number is a nine-digit sequence of numbers that’s used to identify and send funds to specific banking institutions in the U.S. Learn More SWIFT payments The Society for Worldwide Interbank Financial Telecommunication, otherwise known as the SWIFT payment Network, is an international money transfer network established in the 1970s. Learn More Wire transfer A wire transfer is a direct transfer of funds completed electronically, managed through one bank or financial institution and sent to a desired recipient. Learn More PAYMENTS Accounting software Accounting software is any computer program designed to assist accountants, bookkeepers, and business owners in their efforts to record financial transactions. Learn More Accounts payable Accounts payable is an account that includes all of a company’s debt obligations to creditors and suppliers in the short-term. Learn More Accounts receivable Accounts receivable refers to money that is due to a business or organization in exchange for products or services that have been delivered but which the receiving customer has not yet paid for yet. Learn More Accounts receivable process Accounts receivable is an integral part of any business. Find out more about how the accounts receivable process works and how you can get started here! Learn More Chart of Accounts - Definition and How to Set Up What is a chart of accounts, why is it important, and what are some best practices to keep in mind as you are trying to create one? Find out more here. Learn More eCheck An electronic check is a means of making payments online through the internet or other network, designed to perform the same functions as a paper check. Learn More EFT payment An electronic funds transfer (EFT) payment is the process of moving money from one account to another, electronically. Learn More Electronic billing Electronic billing, or e-billing, is the general term for the process and infrastructure associated with paying, processing, and receiving payments online. Learn More Invoice An invoice is a document sent from a business to a customer or client requesting payment after a good or service has been delivered. Learn More Invoice matching (2 way) 2-way invoice matching is an automated process that checks for discrepancies between purchase orders and invoices before invoices are approved and paid. Learn More Net 30 Net 30 is a term used on invoices to describe the deadline for payment of an invoice— in this case, 30 calendar days. Learn More Online bill pay Online bill pay is a service offered by a range of financial institutions and businesses for paying bills online. Learn More Payment automation Payment automation is any tool a business uses in order to automate their process of paying vendors. Learn More Payment management software Payment management software is any software designed to support a business in the process of payment management. Learn More Payroll Payroll describes the entirety of a company’s processes, reporting, and standards for paying their employees and withholding proper payroll taxes. Learn More Payroll management Payroll management is the process by which a business manages its payroll— the employees, salaries, hourly wages, payments, and taxes relating to payroll. Learn More Positive pay Positive pay is a system for detecting check fraud that compares checks presented at a bank to a list of approved checks provided by the issuer. Learn More Pro forma invoice A pro forma invoice is a bill of sale (a document detailing a transaction) sent from a seller to a buyer before a shipment or delivery of goods arrives. Learn More Purchase order A purchase order (PO) is an official document that is sent from a buyer to a seller, documenting the agreement for the sale of specific products and/or services. Learn More Virtual card A virtual credit card (also known as a virtual card) is a temporary digital card number that is used for online transactions. 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