Key Terms Across Maxio Core and Advanced Billing

Here is a helpful table explaining the various terms used in Maxio Core and in Advanced Billing as well as to which application each applies.

Attribute	Definition	Application
Customer	For Maxio Core, the customer represents both Maxio Core customers and their end customers. Advanced Billing refers to Customers as the end customer of our customers (referred to as Merchants). Additionally, Customer on the Maxio Core side requires company or organization level information; whereas the required field on Advanced Billing is first and last name.	Maxio Platform
Invoice	An invoice is the aggregation of all charges, taxes, and discounts due for payment available externally	Maxio Platform
Invoice Line Item	The itemized list of all items on an invoice which sum to the amount due less tax on the invoice	Maxio Platform
Payment	A payment is used to reduce the amount a customer owes from a previously issued Invoice. These can be automatically collected based on the defined payment profile or applied manually based on check/cash/etc. received.	Maxio Platform
Merchant	Merchant is internal Advanced Billing terminology for our direct customers (i.e. those with a subscription to Advanced Billing). The merchants would then sell subscriptions of products to their customers via their own Advanced Billing account.	Advanced Billing
Site	A site is a container for a merchant’s products, subscriptions, and customers. Each site has its own settings and configuration. In particular, each site defines its own subdomain, currency, and gateway settings. Any reporting that Advanced Billing performs is done at the Site level	Advanced Billing
Subscription	Subscriptions are central to Advanced Billing. They tie your customers to your products and are responsible for billing and charging on your recurring intervals. The subscription defines the set of services a customer is using today and those which will be invoiced upon the next invoice date.	Advanced Billing
Proforma Invoice	Proforma invoices allow both, you, the merchant, and the customer to be able to see upcoming expected billing amounts in the form of a proforma invoice. These are not payable invoices but instead a preview of what is expected to bill at the next renewal.	Advanced Billing
Prepayment	Prepayments are payments applied to a subscription that exceed any invoice due amounts. The prepayment amounts can then be applied to subsequent invoices.	Advanced Billing
Refund	Refunds can be processed via the system for certain gateways or recorded as external refunds when issued via cash, check, or other methods. In Advanced Billing, these refunds can be created in combination with a Credit Note (this would align with a Maxio Core Refund Receipt) or standalone (not available in Maxio Core).	Advanced Billing
Credit Note	A credit note is used to reduce the amount a customer owes and is categorized as five different subtypes: migration, component downgrade, void, refund, and general.	Advanced Billing
Service Credit	Service credits are a way to reduce the amount that a subscriber owes on an open invoice. They are created against a subscription and can be manually applied to invoices or will automatically be applied to the next invoice issued. Service credits are applied to invoices as credit notes, and credit notes reduce the invoice due amount, like a payment.	Advanced Billing
Product Catalog	Product catalog refers to the section of the Advanced Billing app that allows merchants to configure and maintain a full listing of all products, components, coupons, and offers, and related sign-up pages.	Advanced Billing
Product Family	Product families enable grouping for your products that can be considered different “feature levels” or “plans” of the same service or offering	Advanced Billing
Product	A product, referred to some as a plan, is defined primarily by a recurring amount charged at a set interval for a limited or open-ended period. Products may also include set-up fees and trials.	Advanced Billing
Price Point	Product price points allow you to charge customers different amounts and at different frequencies for the same product. You can define multiple price points per product, and select a default price point that will be used in cases where a price point isn’t specified.	Advanced Billing
Component	Components allow you to introduce additional “line items” to your products that are often expressed as “add-ons”, upsold features, or pay-per-use items. These are defined at the product family level and are therefore available to all products within the family. There are six different component types: Quantity Based (One-Time), Quantity Based (Recurring), On/Off, Metered Usage, Prepaid Usage, and Events Based Billing.	Advanced Billing
Coupon	Discounts to be applied to a customer subscription can be defined as either a set amount or percentage. Additional configurations such as restricting the applicable product/component, stackability, compounding strategy, and recurring options are available.	Advanced Billing
Offer	Offers combine the essential product catalog building blocks (Products, Components, Coupons) into packages that are easier to bring to market and can be thought of as bundles.	Advanced Billing
Grouped Subscription	Advanced Billing’s subscription groups allow merchants to group together individual subscriptions so that they can be billed on one consolidated invoice. These consolidated invoices will be issued on the primary group member's billing schedule.	Advanced Billing
WhoPays	WhoPays is a feature that allows payment responsibility to be assigned to another customer in the same hierarchy (i.e. an ancestor may be the payer, but another unrelated customer may not be the payer). As such, this feature can only be used in conjunction with Customer Hierarchy.	Advanced Billing
Contract	A contract is an agreement of what has been purchased and will be delivered over the term of the contract. These serve as containers for key records like transactions and invoices and are the object around which deferred revenue and unbilled AR calculations are performed in all finance reports.	Maxio Core
Register	A Register is a container for Contracts, which in turn hold Transactions and Invoices. Once the Register is created, you can add Contracts, Transactions, and Invoices to it by adding records to new and existing Customers.	Maxio Core
Transaction	Contract line items or the list of items agreed to in the contract used for revenue recognition	Maxio Core
Item	An Item is a solution or product you license or sell. Each Transaction and Invoice Line Item must have an associated Item. When using a GL Connector, Items are typically created and managed in your GL and synced to Maxio Core.	Maxio Core
Credit Memo	A credit memorandum is used to reduce the amount a customer owes from a previously issued Invoice. In Maxio Core, these are included in the Invoice List under the Type = Credit Memo.	Maxio Core
Refund Receipts	A Refund Receipt is QuickBooks Online construct that records a refund to a customer for a previously paid balance on an Invoice. This action results in both a cash and a revenue-impacting transaction with no impact on the invoices due amount.	Maxio Core