Glossary
variance
the difference between an expected or forecasted value, and the actual value
VAT calculated on VAT
value added tax (VAT) is a tax levied on the sale of goods or services. An example of calculating a VAT on a VAT is when a state or provincial tax is calculated after the federal tax is added to the amount
vehicle capacity
the amount of product that can be transported. Usually refers to trucks
vendor currency
the type of currency a supplier uses when issuing transactions
vendor managed inventory replenishment
a system that allows the co-management of inventory by both customers as well as the supplier
very large database
definitions vary, however it can be considered a database that is over 100 gigabytes
void
a status that is used to designate a transaction line or an entire transaction that was reversed as part of a voided tendered transaction. Also used to designate a transaction line that was reversed after the transaction was made.
voucher
a document that authorizes payment for a service performed, or goods received/exchanged