Glossary
What do the technical terms mean
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Payment does not have to be complicated. However, there are technical terms that are often not common.
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Descriptor
Predefined text that appears on the credit card statement and explains to the end customer where and with which merchant he made the transaction.
Accounting
In accounting, it is important to be able to allocate transactions. A functioning merchandise management system is particularly important for online store operators. Automated allocation increases efficiency enormously. Important processes here are the document creation from offer to order, invoice and credit note. Here, one can fall back on a multitude of providers.
Enterprise Resource Planning System and descriptor
The descriptor is required for invoicing, i.e. the transfer to the accounting department. The accounts receivable department monitors payment transactions with customers, while the accounts payable department monitors payment transactions with suppliers.