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Glossary / Also known as

Virtual account number

Another name for Virtual Account.

Other names
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What does virtual account number mean?

Virtual account number is another name for Virtual Account. A unique account number per customer that auto-matches incoming payments - no more chasing "who paid what."

The two names mean the same thing. You will see "virtual account number" in some ledgers, reports and contracts and "Virtual Account" in others. The full entry covers how it works, with examples.

Read the full definition of Virtual Account

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From the glossary

Related terms.

Collections and DSO Virtual Account A unique account number per customer that auto-matches incoming payments - no more chasing "who paid what." Also called virtual account number, VAN, virtual bank account Bank reconciliation Bank Reconciliation Statement The detective work of matching your books against the bank's records to find every missing rupee. Also called BRS, bank reconciliation, bank rec Invoice processing Invoice Management The end-to-end process of creating, receiving, tracking, approving, and processing invoices for timely payments and accurate financial records. Also called invoice processing, invoice handling, invoice workflow Accounts payable Accounts Payable (AP) Money a business owes to its suppliers and vendors for goods or services received but not yet paid for. Also called trade payables, sundry creditors, payables Payments and banking UPI (Unified Payments Interface) India's real-time payment revolution - send money instantly using just a phone number or UPI ID, 24x7, for free. Also called UPI payment, BHIM UPI Collections and DSO Aging Report An aging report categorises outstanding accounts receivable by the length of time invoices have been unpaid, helping businesses identify overdue payments and collection risks. Also called ageing report, AR aging report, accounts receivable aging
From the blog

Related posts.

AR Order to Cash (O2C) Process: Steps, Cycle and KPIs The order to cash (O2C) process covers every step from a customer order to collecting and recording payment: order, credit, delivery, invoicing and collections. OneFinOps Editorial 3 min AR What is DSO? Days Sales Outstanding Formula and Example DSO (days sales outstanding) is the average number of days a business takes to collect payment after a credit sale. See the formula, example and how to cut it. OneFinOps Editorial 3 min AR What is an AR Aging Report? Format, Example and How to Read It An AR aging report lists unpaid customer invoices grouped by how long they are overdue: 1-30, 31-60, 61-90 and 90+ days. It shows which balances to chase first. OneFinOps Editorial 3 min
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