# Bank reconciliation glossary > Start with the everyday words you will see in Invunion: an invoice you sent, a payment, a match, an Entity, a customer, and the match inbox. The rest of this page keeps the precise bank, invoice, and Open Banking terms used in the product, including PSD2, AISP, and ASPSP. Source: https://www.invunion.com/knowledge-base/bank-reconciliation-glossary/ Last updated: 2026-10-22 ### Invoice you sent An invoice your company sent to a customer. In the product this is an issued invoice. ### Payment Money that moved in a bank account. Invunion compares these lines with the invoices you sent. ### Match The link between a payment and an invoice. Invunion may suggest it, or someone on your team may confirm it. ### Entity The company you set up inside Invunion. Bank connections, invoices, and matches belong to an Entity. ### Customer The organisation that received your invoice or sent a payment. Invunion calls this a counterparty. ### Match inbox The list of payments that still need a person to look at them. ## Reconciliation terms ### Bank reconciliation Comparing the invoices you sent with the payments the bank reports, then keeping a record of what still does not agree. ### Bank transaction An entry reported by a bank account, such as an incoming customer payment, fee, transfer, refund, or other debit or credit. Its available fields depend on the bank and connection method. ### Issued invoice An invoice your company sent to a customer. Invunion uses it to match an incoming payment. An issued credit note is used to match a customer refund. ### Credit note A document that reduces or reverses all or part of an issued invoice. In reconciliation, an issued credit note can help explain an outgoing customer refund. ### Match A link between a bank transaction and an invoice candidate. A match may be proposed for review or confirmed, depending on the available evidence and current workflow. ### Confirmed match A match accepted by the system's current high-confidence rule or confirmed by a user. Confirmation does not replace the organisation's own accounting controls. ### Pending review A proposed match with enough evidence to show to a reviewer, but not enough to confirm automatically under the current thresholds. ### Unmatched transaction A bank transaction for which no suitable invoice candidate has been confirmed. It may be outside the current product scope, missing identifying data, or require a manual decision. ### Exception An item that needs attention because it cannot follow the normal automated path. Examples include missing invoice data, an ambiguous reference, a currency mismatch, or a payment pattern not supported by the current release. ### Match level How strongly the matching service rates a possible pair: Certain, Strong, or Possible. It is a decision aid, not a probability or guarantee. See [Match levels](https://www.invunion.com/knowledge-base/match-levels/) for what each level means. ### Counterparty The customer, or another organisation, linked to an invoice or a payment. The name on the bank line is only one clue. An exact name is not required for every match. ### Payment method In Invunion, a record used to associate transaction identifiers (such as an IBAN, a domestic account number or a known payment-provider pattern) with a counterparty. ### IBAN International Bank Account Number: a country code, two check digits and the domestic account number. Invunion stores IBANs encrypted and shows them masked, for example `FR76 •••• 0189`. ### Domestic account number The account format of a country without an IBAN. Invunion recognises a UK sort code and account number, a US routing number (ABA) and account number, and a Canadian transit, institution and account number. They are stored encrypted, like IBANs. ### EBICS Electronic Banking Internet Communication Standard: a protocol banks in France, Germany, Austria and Switzerland use to exchange files with companies. Invunion uses an EBICS T (transport) contract to download your statements, never to send payments. See [EBICS](https://www.invunion.com/knowledge-base/ebics/). ## Open Banking terms These are the formal names for bank-data access. You do not need them to create an account. ### Open Banking A regulated method for a customer to authorise a third-party service to access defined payment-account data through an API. Access depends on the customer's consent and the bank's authentication flow. ### PSD2 The European Union's revised Payment Services Directive. Among other topics, it provides a regulatory framework for payment services and access to payment-account information. ### AISP An Account Information Service Provider. An AISP provides account-information services with the user's consent under the applicable regulatory framework. ### ASPSP An Account Servicing Payment Service Provider, typically the bank or payment institution that maintains the payment account. ### SCA Strong Customer Authentication. The bank may require the user to authenticate with two or more independent elements when granting or renewing access. ### Consent The permission a user gives for defined account information to be accessed for a defined purpose and period. Consent can expire or be revoked. ### Mock ASPSP A test bank supplied for sandbox development. It does not contain real financial data and its behaviour can differ from a production bank. ## Invunion environment terms ### Sandbox The mode a new Entity starts in. It uses a test bank (Mock ASPSP) rather than a connection to a real bank. ### Production connection A connection to real bank-account data. Production availability, institution coverage, onboarding, and legal terms must be confirmed with Invunion before use. ### Sync The process that requests available transactions from a connected account and imports new entries. Repeating a sync should not create duplicates when the provider supplies the same source reference.