The Ultimate Qashiopedia
Approval Workflows
A defined series of steps that ensures business expenses get the required approvals before being processed. This promotes compliance, control, and accountability for businesses. With Qashio, approval workflows are further enhanced through dual-level approvals, approval groups, and cross-department workflows, offering flexible and detailed approval structures to suit diverse organisational requirements.
Audit
An audit is essentially an independent examination of a company’s financial reports, which include: 1. Balance Sheet 2. Income Statement 3. Statement of Changes in Equity 4. Cash Flow Statement 5. Summary of Significant Accounting Policies 6. Other Explanatory Notes
Audit Trail
A chronological record of all transactions and activities within the Qashio platform, which provides transparency and accountability for compliance purposes.
Automated Expense Reports
Auto-filled reports that leverage advanced technology to streamline and simplify the entire expense management process. From automatically capturing receipts and matching them with transactions to automating approval workflows and reimbursing employees, this system eliminates the need for manual input, saving valuable time. Automated expense reports are essential because of the high frequency of transactions for businesses of all sizes.
Average daily rate (ADR)
Average Daily Rate (ADR) is a hospitality performance indicator that provides an average of revenue generated per occupied room. The formula is: Average Daily Rate = Total Occupied Room Revenues / Number of Occupied Rooms A higher ADR and a rising trajectory are preferred; however, discounts or promotions may skew the figures on individual days.
Balance sheet
A balance sheet is one of the three financial statements that a company typically reports. It concerns the company’s total assets, liabilities, and shareholder equity at a specific point in time, showing the financial position and balanced with the formula: Assets = Liabilities + Equity.
Balloon loan
A balloon loan differs from a standard loan in that it involves very small monthly payments with a large final payment. Instead of paying off the loan on a fixed monthly basis, the borrower mainly pays interest for a set period until concluding the balance with a single large payment.
Bank identification number (BIN)
The Bank Identification Number (BIN) is a specific number of a financial institution that appears in the first 4-6 digits on a credit, debit, or other payment cards to trace transactions to the specific issuer.
Bitcoin
Bitcoin (BTC) is a decentralised digital currency, also known as cryptocurrency. It is transacted on a public ledger called a blockchain, where transactions are stored, verified, and confirmed.
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