08
Glossary and sources
7 min read · Chapter 8 of 8
Words that mean something else here
| Term | What you'd assume | What it means here |
|---|---|---|
| Approved | Done | Spend, PO, invoice or payment run approved, or payment released in the bank portal. Only release moves money |
| Paid | The supplier has the money | AP: released or check printed. Bank: settled or cleared. Supplier: cash applied |
| Match | A search result | AP: invoice against PO (and receipt). AR: payment against invoice. Bank: reconciliation. Fraud: name against account |
| Terms | Terms and conditions | Payment terms (net 30, 2/10 net 30), whose clock can start at invoice date, invoice receipt, goods receipt or month end. Incoterms cover delivery and risk, not payment |
| Vendor vs supplier | Synonyms | Often, but a "vendor" is an ERP record that may also cover employees, tax authorities and refunds; one supplier can have several |
| PO | A purchase order | Also the PO number an invoice must quote to pass intake, and the "PO box" in a supplier's lockbox address |
| Statement | An invoice | A list of open invoices. Paying from it causes duplicates |
| Rebate | A discount from the supplier | A share of card interchange the issuer pays the buyer. Some networks also pay suppliers "rebates" to offset card fees |
| Enablement | Switching a feature on | A campaign moving suppliers to card or ACH, one supplier at a time |
| Payment hub | A routing API | A bank's integrated payables service, an ERP payment module, a fintech network that holds funds, or an in-house "payment factory". Ask who holds the money, under whose license |
| Straight-through | Fully automated | A Visa program where the card number is never keyed, invoices no human touches, or automatic reconciliation. Every vendor defines "touchless" differently |
| Positive Pay | Fraud protection | A bank service matching presented checks to the buyer's issue file (payee Positive Pay adds the name), plus ACH debit filters. It doesn't protect outgoing ACH credits or wires |
| DPO | A lateness metric | Days payables outstanding: average days to pay. A high DPO is often a CFO goal |
| Float | Idle cash | The buyer's days until a check clears, a provider's interest on funds it holds, the supplier's DSO: the same days with three owners |
| Accepts cards | Takes my card | For virtual cards, often "enrolled with issuer X". A supplier that takes cards online may refuse a virtual card |
What surprised me
"I assumed AP was the mirror of AR." Writing the order-to-cash guide, I spent most of my words matching money to invoices, and expected the buyer's side to be the same problem reversed. It isn't. AP's hard question comes before any money moves: should we pay this at all? Most of the work is matching, approval, vendor checks and tax validation, and the payment comes at the end of it.
"Rebates are carrier fees running backwards." In telco, carrier fees flow downstream and stop. Here the issuer pays the buyer a rebate out of the interchange the supplier pays. The buyer is paid to pick the rail that costs its own supplier the most, and as far as I can tell nobody involved finds that strange.
"A bank-detail change is a number port." A port has an authority: the losing carrier validates ownership and a central database flips the record. A supplier's bank change is an email and a clerk editing a field, and the receiving bank pays by number whatever the name says. With no registry to ask, the control has to live in AP.
"Batching is a throughput trick." In messaging you batch for throughput. In AP the batch is a treasury decision: weekly runs hold cash, checks add float, and paying early has a price. The goal is on time, or deliberately early for a discount.
"Instant payments would land like faster delivery." In AFP's 2025 survey, over two-thirds said faster payments had no impact on their organization, and buyers don't like seeing funds leave instantly. Speed is what the supplier wants; the buyer wants control of the date.
Sources
Undated entries were read on October 1, 2026.
Rail operators and payment systems
- Fraud monitoring phase 2, Nacha, 2026; Tips for originators to comply with the 2026 risk management rules, Nacha, Dec 2025; BEC attempts rose sharply in 2025, Nacha, May 2026
- New rules take aim at credit-push fraud, Nacha, Mar 2024; funds availability for non-same-day credits, Nacha, 2026; Same Day ACH limit to $10M, Nacha, Apr 2026
- FRB Services: FedACH 2026 fees, FedNow 2026 fees, Fedwire 2026 fees, FedNow $10M limit (Sep 2025), 2026 fees and enhancements, including Payee Name Verification (Dec 2025)
- Payments Canada: Lynx adopts ISO 20022 (2025), Canadian Payment Methods and Trends 2025, RTR testing and launch
- ACH Network volume growth in 2025, Nacha, Jan 2026
- RTP annual statistics, The Clearing House (read Oct 2026)
- Fraud monitoring phase 1, Nacha (read Oct 2026); new risk management rules now in effect, Nacha, Mar 2026
- FOMC statement, Federal Reserve, Sep 16, 2026
Tax authorities, government buyers and law
- IRS: Instructions for Forms 1099-MISC and 1099-NEC (12/2026), Publication 1099 (2026), proposed regulations, IR-2026-03 (Jan 2026), backup withholding, TIN Matching
- Bureau of the Fiscal Service: Prompt Payment, interest rates (H2 2026), Invoice Processing Platform
- CRA: 2025-26 Departmental Plan, 2026-27 Departmental Plan, Reporting fees for service (Apr 2026), Documentary requirements for input tax credits, Confirming a GST/HST account number
- Federal Prompt Payment for Construction Work Act, Justice Laws; new federal prompt payment legislation, PSPC, Dec 2023
- S.3623, Credit Card Competition Act, US Congress, Jan 2026
- UCC 4A-202 and 4A-207, Cornell LII
- 2025 IC3 Annual Report, FBI, Apr 2026
- Payment service providers must register, FINTRAC, Jul 2022; retail payments supervision FAQ, Bank of Canada, Aug 2026
- GSA SmartPay statistics, GSA, FY2025
- July 2026 price filing, USPS, Apr 2026
E-invoicing and standards
- FedPayments Improvement: electronic invoices, B2B payments experts launch DBNAlliance, frictions in B2B payments
- DBNAlliance, home page
- Peppol authorities, OpenPeppol
- Supply chain transaction flow and transaction sets, X12
Accounting standards and international bodies
- ASU 2022-04, Supplier Finance Programs, FASB, Sep 2022
- IASB increases transparency of supplier finance, IFRS Foundation, May 2023; reverse factoring agenda decision, IFRS Interpretations Committee, Dec 2020
- G20 cross-border payments progress report, FSB, Oct 2025
Card networks
- Visa USA Interchange Reimbursement Fees, Visa, Apr 2026
- Visa straight-through processing merchant sheet, Visa (older document)
- Supplier Matching Service, Visa Developer
- Merchant surcharging considerations and requirements, Visa, Aug 2023
Industry associations and benchmarks
- 2026 Payments Fraud and Control Survey release, AFP, Apr 2026; 2026 payments fraud outlook, AFP, May 2026
- 2025 AFP Digital Payments Survey, AFP, 2025
- 2022 Payments Cost Benchmarking Survey, AFP, 2022
- APQC: total cost to process AP per invoice, cycle time from invoice receipt to payment (data years not shown)
- CFO.com on APQC: AP cycle time, Aug 2022; duplicate or erroneous payments, Mar 2020
- National Summary of Domestic Trade Receivables, Credit Research Foundation, Q2 2026
- Credit card surcharging, CFIB
Company results and filings (the main players)
- Q2 and half-year 2026 results, SAP, Jul 2026; SAP Business Network in the IDC MarketScape, SAP, Nov 2025; SAP completes acquisition of Taulia, Taulia, Mar 2022
- Q1 fiscal 2026 results, Oracle, Sep 2025
- FY26 Q4 results, Microsoft, Jul 2026
- Q4 fiscal 2026 results, Intuit, Aug 2026
- Thoma Bravo completes acquisition of Coupa, Thoma Bravo, Feb 2023
- A strong 2025, Ivalua, Jan 2026 (company-reported)
- Q4 fiscal 2026 results and 10-K FY2026, BILL, Aug 2026
- 10-K FY2024, AvidXchange, 2025
- 10-K FY2025 and Q2 2026 results, Corpay, 2026
- How Paymode is shaping business payments, Bottomline, Sep 2025 (company-reported)
- Growth financing, Tipalti, Sep 2025 (company-reported)
- Q2 2026 Payments results, J.P. Morgan, Jul 2026
- Q2 2026 results, Citi, Jul 2026
- 10-Q, Q2 2026, Bank of America, 2026
- Q3 2026 report, RBC, Aug 2026
- Q3 2026 results, TD, Aug 2026
- Q2 2026 earnings presentation, American Express, Jul 2026
- 2025 annual report, U.S. Bancorp, 2026
- Brex acquisition, 8-K exhibit, Capital One, Jan 2026
- Q2 2026 results, WEX, Jul 2026
- 10-K FY2025, Visa, Nov 2025; 8-K on the merchant settlement, Visa, Nov 2025
- 10-K FY2025, Mastercard, Feb 2026
- Supply chain finance, Regions (read Oct 2026)
- Half a trillion in funding, C2FO, Mar 2026 (company-reported)
Pricing pages and buyer data (read Oct 11, 2026)
- Pricing: BILL, Ramp, Tipalti, QuickBooks Bill Pay (Intuit)
- Coupa pricing data, Vendr, Feb 2026
- QuickBooks API pricing and the Intuit App Partner Program, Apideck (read Oct 2026); updates to Xero developer pricing, Xero, Dec 2025
Trade press
- Zip raises a $190M Series D, FinTech Futures, Oct 2024
- Ramp hits a $44B valuation, FinTech Global, Jun 2026
- Intuit enters the corporate card market, Finovate, Jul 2026
- Best supply chain finance bank 2025: Citi, Euromoney, 2025
- Judge signals approval for Visa and Mastercard swipe fee settlement, PYMNTS, 2026
- Use of AI receipts in expense fraud soars, Accounting Today, 2026
- FedNow passes 1,800 banks and credit unions, Digital Transactions, Jul 2026
Cited without links (the source URL carries a company's name or ticker)
- AFP 2025 and 2026 Payments Fraud and Control Survey key highlights, AFP, Apr 2025 and Apr 2026 (hosted by the underwriting bank)
- State of ePayables 2025, Part Nine: AP benchmarks, Ardent Partners, Jan 2026
- 2025 Working Capital Survey press release, Hackett Group, Aug 2025
- Washington State DES commercial card Contract 00719, Amendment 2, Oct 2025
- Visa Form 8-K on the merchant settlement, Nov 2025
- Annual reports (Form 10-K) of three US AP and corporate-payments companies, FY2024 to FY2026 (vendor-reported)
- Summary of Studco v. 1st Advantage (4th Cir.), a law firm, Apr 2025
Field Guides are learning notes, not legal or compliance advice. Rules and fees change; check the cited primary sources before you act on anything here.