Glossary of Terms
Interim Invoice
An interim invoice (also known as a progress billing) is a partial invoice issued for a portion of the work completed or goods delivered before the entire job is finished. See also Final Invoice.
AES256
AES256 is a strong and widely used method for securely encrypting digital information, using a highly complex key to nearly unbreakably protect data.
Markup
A percentage or amount added to the cost price or manufacturing cost of a product to determine the selling price. A 100% markup means the product is sold at twice the cost price. See also Margin
Gross
Refers to the total amount of an invoice, goods, or salary including all taxes and fees. See also Net
DATANORM
DATANORM is a standardized data format for exchanging product and item data between manufacturers, wholesalers, and trade businesses.
Recurring Invoice
A recurring invoice for regularly provided services or deliveries, such as monthly rents, subscriptions, or service fees.
E-Invoice
An electronic invoice that is transmitted and processed in digital form. It is more efficient, faster, and environmentally friendly than traditional paper invoices.
IBAN
The IBAN (International Bank Account Number) is a standardized account number that enables bank accounts worldwide to be uniquely identified and facilitates cross-border transactions.
Direct Debit
A payment method in which the payee is authorized to withdraw an amount directly from the payer's bank account.
Margin
The difference between the selling price and the costs for manufacturing or purchasing a product. A 50% margin means the product was purchased at half of the selling price. See also Markup
Net
Is the amount excluding taxes and fees. For a salary, it is the amount that remains after deduction of taxes and social security contributions. See also Gross
QR-Invoice
An invoice form that contains a scannable QR code encoding all relevant payment information. This facilitates the quick and error-free transfer of payment data.
Reverse-Charge
The reverse-charge mechanism (also called the shift of tax liability) is a VAT procedure where not the supplier, but the recipient of a service is liable to declare and pay the VAT to the tax authorities.
SEPA
SEPA stands for Single Euro Payments Area and enables cross-border Euro payments in Europe by creating a uniform set of rules for Euro transactions across different countries.
Final Invoice
A final invoice is a summarizing bill that presents the final costs or revenues of a project, service, or business transaction. See also Interim Invoice.