Invoice Terms Explained

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For our Asia-Pacific customers, the term "Trust Account" is used, while European customers refer to it as "Client Account". It's important to mention that the Client/Trust Accounting functionality does not apply to customers in North America. For further information on regional terms, check out our Glossary of Regional Terminology.

Understanding these terms and the information they represent in your invoice will allow you to manage your accounts and reports more effectively. You'll be able to quickly identify outstanding debts, monitor paid invoices, and get a clear picture of your financial standing. This article outlines common terms used in invoices and what they correspond to, ensuring that no matter your regional terminology preferences, the meaning remains clear and useful.

Term Name Description
Issue Date The issue date on the invoice
Created Date The date the invoice was created/generated
Due Date The due date on the invoice
Service Date The budget period the invoice is attributable to
Invoice The unique invoice identifier number
Credit Note The unique credit note identifier number
Reference The reference on the invoice or credit note
Ledger The ledger assigned to the line item on the invoice
Property Manager The property manager of the related property on the invoice
Related Property The related property selected on the invoice
Area Occupied The area/s occupied by the related tenant selected on the invoice
Related Tenancy The related tenant selected on the invoice
Contact The name of the related contact selected on the invoice
Description The line item description
Account The account assigned to the line item
Net Amount The Net Amount on the line item
Tax Rate The Tax Rate assigned to the line item
Tax (GAT/VAT) The amount of Tax charged
Gross Amount The gross amount charged on the invoice
Date Paid/Allocated The date a payment was made or a credit note allocated to the invoice
Date Payment/ Allocation Processed The date a payment or credit allocation was processed against the invoice
Amount Paid/Allocated The amount paid or allocated to the invoice
Outstanding The outstanding amount still to be paid
Status Approved or paid
Emailed? Has the invoice been emailed? (Yes or No)
Source The type of transaction (e.g. Income Invoice, Income Credit Note, Expense Invoice, Expense Credit Note)


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