The ultimate expense and spend management glossary
Get familiar with the most commonly used terms in expense and spend management — from accounting basics to automation tools.
Whether you're in finance, operations, or team management, this glossary will help you navigate the evolving world of business spending with confidence.
The Expense and Spend Management Glossary
This glossary cuts through the jargon, and makes finance terms simple for modern teams and organisations.
Browse alphabetically by clicking any letter above and get quick, plain-language definitions.
Where useful, we’ll also point you to related Budgetly resources—like how expense management automation can save time in accounting or free finance tools you can download.
This glossary is always growing. If you think a term should be added or explained better, let us know
Accountant
A financial professional who manages and analyses a business’s financial records, ensuring accurate reporting, tax compliance, and informed decision-making.
Accounting Automation
The use of software to automate repetitive accounting tasks such as data entry, reconciliation, and reporting, saving time and improving accuracy.
Accounts Payable
Money a business owes to suppliers or vendors for goods or services received.
Accounts Receivable
Money owed to a business by its customers for goods or services provided on credit.
Action Logs
Records of all activities within the platform, providing transparency and accountability.
Admin
A user role with full access to manage budgets, users, and settings within the Budgetly platform.
Administration
The management and organisation of day-to-day business activities, including tasks like record-keeping, scheduling, and supporting company operations.
Agriculture
Australia’s farming and agribusiness sector, managing expenses across land, equipment, seasonal labour, and supply chains.
AI (Artificial Intelligence)
Artificial Intelligence that automates tasks like expense processing and fraud detection, helping businesses streamline their financial operations.
App
A software application, often mobile, that provides specific features or services — such as tracking expenses, managing budgets, or approving transactions.
Architecture
Professional services that design buildings and structures, often incurring project-based and client-related expenses.
Assets
Resources owned by a business that have economic value, such as cash, equipment, or inventory.
Audit
An independent review of a business’s financial records, processes, or operations to ensure accuracy, compliance, and integrity.
Automated GST Extraction
A feature that automatically identifies and records GST from receipts, streamlining tax reporting.
Balance Sheet
A balance sheet is a fundamental financial statement that provides a snapshot of a business's financial position at a specific point in time. It outlines what the business owns (assets), what it owes (liabilities), and the owner's equity.
Bill Payments
A feature allowing businesses to automate accounts payable, from bill capture to reconciliation.
Bookkeeping
The day-to-day recording and organising of a business’s financial transactions to keep accurate, up-to-date records.
BPay
An Australian electronic bill payment system that allows individuals and businesses to pay bills directly from their bank account using a unique biller code.
BSB
Bank State Branch; a six-digit number used in Australia to identify individual banks and branches for domestic payments.
Buddy AI
An AI assistant that automates tasks like bill processing, fraud detection, and approval workflows.
Budget
A predefined spending limit set for users, departments, or projects, ensuring controlled expenditure.
Budget Cycle
The frequency at which a budget resets or replenishes, such as daily, weekly, or monthly.
Budget Management Software
A digital tool that helps businesses track, allocate, and manage financial resources effectively. It provides real-time insights into income, expenses, and cash flow, allowing businesses to set spending limits and monitor financial performance.
Bulk Transaction
A single process that groups and processes multiple payments or transactions at once, helping businesses save time when managing large volumes of expenses or reimbursements.
Business Debit Card
A prepaid or debit card issued to employees to make business purchases directly from company-controlled budgets, with spending limits set by administrators.
Cash Flow
The movement of money in and out of a business, crucial for maintaining liquidity and meeting financial obligations.
Categories & Tags
Labels assigned to transactions for organised tracking and reporting, aiding in financial analysis.
Childcare
Providers of early childhood education and care services, managing expenses for staff, supplies, and compliance requirements.
Commercial
Businesses
engaged in trading goods or services at scale, often requiring careful expense management across multiple sites or projects.
Compliance
The act of following financial regulations and internal company policies, supported by Budgetly’s built-in controls and reporting features.
Construction
The Australian building and infrastructure sector, managing expenses across subcontractors, materials, and equipment on project sites.
Consultants
Independent or firm-based advisors
delivering professional expertise, typically managing travel, software, and client-related expenses.
Contract
A legally binding agreement between parties outlining terms, responsibilities, and conditions—often tied to business expenses or supplier relationships.
Corporate Card
A payment card issued by a business to employees for authorised business expenses, often integrated with spend management software.
Corporate Debit VISA Card
A physical prepaid card assigned to an employee, enabling controlled in-person spending within set budgets.
CSV file
Comma-Separated Values file; a simple text file format that stores tabular data, commonly used for importing or exporting transaction records and financial data.
Demo
A sample or trial version of a product or service used to showcase its features and benefits to prospective customers.
Direct Debit
An arrangement that allows a business to automatically withdraw funds from a customer or partner’s bank account for payment.
Direct Transfer
A bank-to-bank payment made electronically, commonly used for transferring funds between Australian bank accounts without using cheques or cards.
Double Entry Accounting
A bookkeeping system where every financial transaction affects at least two accounts—one debit and one credit. This approach ensures the accounting equation (Assets = Liabilities + Equity) always remains balanced.
Duplicate Transaction
An expense or payment recorded more than once, which businesses aim to identify and eliminate to ensure accurate reporting.
Education
Schools, universities, and training providers, managing budgets across programs, campuses, and government reporting requirements.
Effective resource allocation
Allocate financial resources across departments, programs, and initiatives with precision.
Employment Services
Businesses or organisations that support recruitment, staffing, and workforce management, helping employers find and manage employees efficiently.
Engineering
Firms providing technical design, planning, and construction services, managing project-based and field-related expenses.
Enterprise
Large Australian businesses
and corporations requiring scalable expense management and policy compliance across departments.
EOFY (End of Financial Year)
The end of the Australian financial year, on 30 June, when businesses finalise accounts, submit tax returns, and prepare financial reports.
Equity
The residual interest in a company’s assets after deducting liabilities; often referred to as the owner’s or shareholders’ stake in the business.
Expense Management Software
A digital platform that helps businesses track, control, and report on employee and company expenses—Budgetly automates this process with cards, budgets, and real-time reporting.
Expense Policy
An organisation’s formal rules and guidelines governing employee spending and reimbursement.
Expense Report
A compiled document detailing incurred expenses over a period, used for analysis and reimbursement.
Expense Tracking App
A mobile application enabling users to capture receipts, monitor spending, and manage budgets on-the-go.
Farming
Agricultural operations managing costs for land, machinery, seasonal workers, and distribution, crucial in Australia’s regional economy.
Finance
Businesses in banking, investment, and financial services, focused on compliant expense reporting and accurate financial management.
Financial Management System
The framework businesses use to plan, monitor, and report on their financial activities. This includes everything from budgeting, forecasting, and expense tracking to managing cash flow, generating financial reports, and maintaining compliance.
Fraud
Unauthorised or deceptive transactions; businesses require robust tools to monitor and prevent fraudulent spend.
Fuel Card
A prepaid card designated for fuel purchases, simplifying expense tracking for travel-related costs.
FX Currency
Foreign exchange currency; money in a currency other than Australian dollars, typically involved in international transactions or travel.
General Services
A broad category covering essential business services such as cleaning, maintenance, and facility management.
Government
Local, state, and federal departments
managing public funds with strict reporting, transparency, and procurement rules.
GST
Goods and Services Tax; a 10% tax on most goods and services in Australia, automatically tracked in Budgetly for easier reporting and reconciliation.
GST Credit
A credit businesses can claim for the GST paid on purchases and expenses used in their business, reducing the net GST payable to the ATO.
Healthcare
Providers of medical, aged care, and allied health services, with regulated expense management needs for supplies, staff, and facilities.
Human Error
Mistakes made by individuals, such as incorrect data entry or missed approvals, that can impact business processes or financial accuracy.
Industrial
Australian manufacturing and heavy industries, managing spend across plant operations, raw materials, and logistics.
Invoice
A document requesting payment for goods or services, which businesses process and store for accurate expense tracking and accounts payable.
Invoice approval software
A digital tool that streamlines the review and approval process for incoming invoices, ensuring faster authorisation and better oversight of company spending.
Invoice management software
A platform that helps businesses receive, track, organise, and process invoices efficiently, reducing manual effort and errors.
Liabilities
Financial obligations a business owes to others, including loans, accounts payable, or other debts.
Miscellaneous Expenses
Small or irregular business costs that don’t fit into standard categories, still tracked and managed through Budgetly’s expense tools.
Mobile Wallet
A digital application that securely stores payment information and allows users to make transactions directly from their smartphone or device.
Multi-Factor Authentication (MFA)
A security system that requires multiple methods of authentication to verify user identity.
NDIS
National Disability Insurance Scheme providers
managing government-funded services and related expenses, with strict compliance requirements.
Not For Profit
Charitable and community organisations
managing donations and grants, with strict financial governance and reporting standards.
Onboarding
The process of setting up a new customer or user, including account configuration, training, and ensuring a smooth start with a new system or service.
One-click Payment
A payment method that allows users to complete a purchase quickly with a single action, reducing friction in online transactions.
Password
A confidential code used to secure access to platforms like Budgetly, helping protect company financial data.
Portable Document Format; a file format used to present documents in a consistent layout across devices, often used for sharing reports, invoices, and receipts.
Petty Cash
A small fund used to cover minor day-to-day business expenses, typically reconciled regularly.
Procurement
The process of sourcing, purchasing, and managing goods or services required by a business.
Professional Services
Firms delivering expertise-based services such as law, accounting, and consulting, requiring accurate expense tracking and client billing.
Real Estate
Agencies and property managers, tracking operational, marketing, and sales expenses across multiple properties.
Receipt
A document that serves as proof of purchase, which employees upload into Budgetly to substantiate and track company expenses.
Receipt Capture
The process of digitally uploading receipts, facilitating real-time expense tracking and reducing paperwork.
Reconciliation
The process of comparing transactions and balances in records (e.g., bank statements vs accounting records) to ensure accuracy.
Recurring Payment
An automatic payment made at regular intervals, such as monthly subscriptions or service fees.
Reimbursement
The process of repaying employees for approved business expenses they paid out-of-pocket, which Budgetly helps minimise through prepaid cards and budgets.
Retail
Businesses selling goods to consumers, managing spend across inventory, logistics, marketing, and staff operations.
Risk
The possibility of financial loss or non-compliance; businesses require systems to identify and mitigate financial risk.
SaaS (Software as a Service)
A software delivery model where applications are accessed online via subscription, rather than installed locally.
Single Sign-On (SSO)
A session and user authentication service that permits a user to use one set of login credentials to access multiple applications.
SME
Small and Medium-sized Enterprise; a business with fewer employees and revenue than large corporations, often needing agile financial tools like Budgetly to manage spend.
Spend Management Software
A broader solution that gives businesses visibility and control over all company spending, not just expenses, helping ensure budgets are followed and financial policies are enforced.
Spending Rules
Customisable parameters that govern how and where funds can be used, enhancing policy compliance.
Staff Empowerment
Enabling employees to make decisions and take ownership of their work, such as giving them controlled access to company budgets and payment tools.
Staff Induction
The process of introducing new employees to a business, covering company policies, procedures, and their specific role to ensure a smooth start.
Startup
A young company, often in early growth stages, that can benefit from flexible spend management solutions like Budgetly to scale efficiently.
Subscription
A recurring payment arrangement for ongoing access to a product or service, commonly used for software, memberships, or utilities.
Supplier
A company or individual that provides goods or services to a business, often subject to invoice management and approval.
Target Market Determination
A document which describes who а product is appropriate for (target market), and any conditions around how the product can be distributed to customers. It also describes the events or circumstances where we may need to review the Target Market Determination for a financial product.
Telecom
Companies providing telecommunications infrastructure and services, with spend across technology, equipment, and networks.
Top-Up
The action of adding funds to a budget, increasing the available balance for spending.
Transaction
Any purchase or payment made using company funds, tracked in real time through Budgetly’s platform for visibility and control.
Transport
Businesses providing freight, logistics, and passenger transport, managing fuel, fleet, and operational costs.
Travel & Tourism
Operators delivering travel experiences and accommodation, with spend across bookings, logistics, marketing, and staff.
Two-Factor Authentication (2FA)
An added security layer requiring two forms of verification before granting access to the system.
User
An individual assigned a card and budget, permitted to make transactions and submit expenses.
Virtual Card
A secure, digital-only card that employees can use for online or remote purchases, with spending limits and budgets managed in Budgetly.
Virtual VISA Card
A secure, instantly issued prepaid card for online transactions, eliminating the need for shared physical cards.
Visa Advanced Authorisation
A fraud detection system that monitors transactions in real-time to prevent unauthorised spending.
Xero Integration
A seamless connection between Budgetly and Xero accounting software, ensuring synchronised financial data.
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