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Bank reconciliation glossary
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 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.
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.
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