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Glossary

AI Finance Glossary

Plain-English definitions of AI, accounting, and SaaS-finance terms.

Categories

AllAccounting & BookkeepingAccounting Practice SoftwareAP AutomationAudit & ComplianceBusiness BankingCap Table & EquityCFO PlatformContract ManagementExpense ManagementFinancial Data & APIFinancial ReportingFP&A & ForecastingGlobal PayrollInsurance & RiskInvestment ManagementInvoicing & ARLending & CreditPayments InfrastructurePayrollPersonal BudgetingProcurementRevenue FinancingRevenue RecognitionSaaS BillingSales Tax & ComplianceTax FilingTax Filing PersonalTreasury Management

A

Anti-Bribery Compliance

Corporate program and legal framework preventing improper payments to government officials and commercial counterparties.

Audit & ComplianceGlobal Payroll

B

Base Salary

Fixed cash compensation paid to an employee on a regular schedule regardless of performance or company results.

PayrollGlobal Payroll

Benefits Administration

The management of employee benefits programs including health insurance, retirement plans, PTO, and other compensation components.

PayrollGlobal Payroll

C

Cross-Border Payment

Financial transaction where payer and recipient are in different countries, requiring currency conversion or international routing.

Payments InfrastructureGlobal Payroll

Currency Conversion Fee

Fee charged when converting between currencies in a payment transaction, including exchange rate margin.

Payments InfrastructureGlobal Payroll

E

Employer of Record

A third-party company that legally employs workers on behalf of another business, managing payroll, taxes, and compliance across jurisdictions.

Global PayrollPayroll

F

FLSA Compliance

Adherence to Fair Labor Standards Act requirements for minimum wage, overtime pay, and recordkeeping.

PayrollGlobal Payroll

FMLA

Federal law providing eligible employees up to 12 weeks of unpaid, job-protected leave annually for qualifying family and medical reasons.

PayrollGlobal Payroll

Foreign Tax Credit

U.S. tax credit for income taxes paid to foreign governments, reducing double taxation on foreign-source income.

Tax FilingGlobal Payroll

G

Goods and Services Tax

A broad-based consumption tax applied to most goods and services, similar to VAT, used in Canada, Australia, India, Singapore, and other countries.

Sales Tax & ComplianceGlobal Payroll

I

IBAN

International Bank Account Number standardizing account identification for cross-border transactions.

Payments InfrastructureGlobal Payroll

ISO 20022

Global financial messaging standard enabling richer, more structured payment data across institutions.

Payments InfrastructureGlobal Payroll

S

SEPA

Single Euro Payments Area enabling standardized electronic payments across 36 European countries.

Payments InfrastructureGlobal Payroll

SWIFT Code

Unique identifier (BIC) for financial institutions used in international wire transfers.

Payments InfrastructureGlobal Payroll

Severance Pay

Compensation paid to employees upon involuntary termination, beyond their final paycheck.

PayrollGlobal Payroll

T

Tax Treaty

Bilateral agreement between countries to reduce double taxation on income earned across borders.

Tax FilingGlobal Payroll

Total Compensation

Complete value of all monetary and non-monetary benefits provided to an employee in exchange for their work.

PayrollGlobal Payroll

V

Value Added Tax

A consumption tax levied at each stage of production and distribution, collected by businesses on behalf of the government throughout the supply chain.

Sales Tax & ComplianceGlobal Payroll