Glossary


D | V

D

document event class
Categorization of events within an application, such as Payables, Purchasing, or Receivables. For example, Payables event classes include standard invoices, prepayment invoices, and credit memos.

V

value-added tax (VAT)
An indirect tax on consumer expenditures that is collected on business transactions and imported goods. Value-added tax (VAT) is added to products at each stage of their production. If customers are registered for VAT and use the supplies for taxable business purposes, then they typically receive credit for the VAT that is paid.