Glossary of Terms

Term	Definition
Travel Ledger	The platform. Usually abbreviated/referred to ‘TL’
Travel Ledger Entity	An Actor on the TL platform – A company (Buyer and/or Seller) or a Processing Entity (usually abbreviated/referred to/as ‘PE’)
Accept Transaction	The action (most often undertaken by a Buyer after they have reviewed their transactions) that indicates that the Buyer agrees with the transaction value. Accepted transactions are eligible for settlement once the Buyer Acceptance Window closes
Admin User	The user that has control of a Travel Ledger entity and can create other Travel Ledger “Users”
Amend Transaction	The action (most often undertaken by a Buyer after they have reviewed their transactions) that indicates that the Buyer does not agree with the transaction value and wishes to modify it, as well as specifying a reason code. Amended transactions are eligible for settlement once the Buyer Acceptance Window closes
Bank/Public Holiday	Bank/Public Holiday
Banking Hours	Usually abbreviated/referred to/as ‘BHrs’. The working hours on a working day associated with a payment type.
Buyer	The TL entity Buying product/services associated with a transaction. NOTE:- An entity can be a Buyer only, a Seller only, or both
Buyer Acceptance Window	The minimum number of hours that a Buyer must have to review their transactions in a Settlement cycle.
Buyer Collection day/time	Often referred to simply as ‘Collection day The Date/time on which Buyer Collections are initiated (and seller refund collection in a ‘Smart float’ configuration)
Collection	Collecting of funds using a specified payment method
Commit	The action (most often undertaken by a Seller after they have reviewed transactions they have loaded on to TL ) that causes a transaction to be ‘active’ on the TL system and, if eligible, to be assigned to a Settlement cycle.
Commercial Link	Usually abbreviated/referred to/as ‘CL’. This is the collection of rules – including Business Terms, Payment Type(s) and (optionally) Settlement schedules - that regulate a relationship between 2 (or 3 if a PE is involved) entities.
Disbursement	See Payment
Financial Float	In a PE environment, a monetary amount or ‘float’ in the PE’s Bank account that allows the netted collections to take place. TL supports two options at launch – ‘None’ and ‘Smart’
Financial Float – ‘None’	This setting represents the standard collection logic used by the Virgin Media platform The PE provides the float, but also takes on the financial risk should collections fail.
Financial Float – ‘Smart’	Also referred to as ‘Smart Float’ This setting represents alternative (configurable) collection logic supported by the TL platform The float is provided by collecting funds from Buyers whose sales > refunds ( i.e. they have a nett positive position) and from Sellers for any of their buyers whose refunds >sales (i.e. they have a nett negative position). This arrangement helps reduce the financial risk to the PE should collections fail
Funds clearing period	Payment type specific. The total number of hours between submitting a payment request and the cleared funds being available in the recipient’s account. This period includes BACS pre-processing, BACS processing, BACS collection, and actual clearing days
Indirect Commercial Link	A special type of Commercial Link between more than 2 Entities. Only “Processing Entities” can create Indirect Commercial Links
Direct Debit	Usually abbreviated/referred to/as ‘DD’ An instruction sent to the DD platform to perform a collection
Direct Credit	Usually abbreviated/referred to/as ‘DC’ An instruction sent to the DD platform to perform a payment
DD managed platform	The PTx platform from Bottom Line Technologies interacting with the BACS Banking platform to perform operations
DD Mandate	The agreement (with a unique ID) between two parties to collect funds or make a payment using the BACS platform
DD Profile	This is the profile for each TL Entity, “in” the DD managed platform, to which a DD mandate is associated
Due date	If supplied – the date that cleared funds should be available in a Seller’s account.
KYC	Know your clients
Manually added/forced Collection	An extra collection day/time that the PE Admin chooses to add – for instance to compensate for a previously skipped collection or to deal with exceptional circumstances. See Also skipped Collection & Skipped days
Matched	The status of a transaction after seller loading where the information in the transaction – Buyer/Seller/Commercial link/etc – has been fully matched with corresponding records in TL
Non-Banking Day	Usually abbreviated/referred to/as ‘NBD A public/Bank holiday or a weekend day OR/ (optionally) any other day that has been manually designated (by skipping in the settlement schedule) as such by the PE Admin’. NOTE:- Depending on the Payment method/country, weekends and public holidays may be auto-defined.it
Payment	The paying/disbursing of funds (mostly from a previous collection) using a specified payment method
Payment Gateway	The collection of rules and API calls that interact with a specific payment method or supplier (i.e.. “DD payment gateway” will be the module interacting with the DD managed platform)
Payment Types	The methods for collecting funds or making payments. NOTE:- An Automated Payment types requires a settlement schedule.
Processing Entity	Usually abbreviated/referred to/as ‘PE’ A third party – for instance ABTA - managing the CL under which specified Sellers and Buyers trade with each other on the TL platform
Reject Transaction	The action (most often undertaken by a Buyer after they have reviewed their transactions) that indicates that the Buyer wishes to exclude it from further processing, as well as specifying a reason code. Rejected transactions are not eligible for settlement once the Buyer Acceptance Window closes
Remittance	The record (with a status) associated with a transaction indicating that payment for it has/or will take place. Remittances are automatically created used as the basis to collect or disburse fund for an Automated Payment type If permitted, offline Remittances (fulfilled/paid offline) can be manually created A remittance can be positive or negative.
Seller	A TL entity Selling product/services associated with a transaction. NOTE:- An entity can be a Buyer only, a Seller only, or both
Settlement Cycle	Collectively, all the events and dates associated with a specific collection date/time, either before or after which, together, make up the entire load/review/collection/payment cycle. Settlement cycles will overlap for different CL/Payment type combinations. They will also commonly overlap within a CL/Payment type combination where the payment takes time to process and/or clear. Settlement cycles can be displayed from within the dashboard. NOTE:- Only applies to an automated Payment type
Settlement Routine	An automated routine running multiple times a day that will use configuration in the prevailing CL to assign transactions to a settlement cycle and – if relevant - initiate any collections/payments that are due to be processed
Settlement Schedule	The Collection dates/times calculated by the TL platform based on the configuration of the CL. Collection dates are displayed in a calendar format from within a Settlement Schedule record. NOTE:- Only applies to an automated Payment type
Skipped Collection	A calculated Collection date/time that the PE Admin chooses to ‘skip’ – for instance if it falls too close to a public holiday, etc. See Also manually added/forced Collections
Skipped day	Any other date that the PE Admin chooses to ‘skip’
Submission	Sending data to BACS via the DD managed platform to initiate a direct debit or direct credit.
SUN	Service User Number – It is the number used by BACS to identify and validate the company that is submitting Direct Debit transactions for processing
TL Administrator	TL customer service member responsible for activating new Entities after KYC and accreditation
Trade organisation or Indirect Processing Entity	This is a special type of “Entity” in TL that can create Commercial Links where more than two parties are involved (primarily to process payments). This Entity controls the “Indirect Commercial Link” and performs the role of clearing house
Transaction	Synonymous with an invoice or credit note. A transaction can be positive or negative.
Un-accepted Transaction	The status of a transaction that the TL platform will automatically assign if, at the end of a Buyer Acceptance Window, the transaction is not Accepted, Amended, or rejected. Un-accepted transactions are not eligible for settlement once the Buyer Acceptance Window closes and they will have to be re-submitted into a future settlement cycle to be collected.
User	A user of the Travel Ledger platform
‘X’ Hours	The configurable time delay between collecting funds from Buyers and disbursing them to Sellers. Referred to as Forward funds to Seller after (hours)”.
‘Y’ Hours	In a ‘Smart float’ configuration, the configurable time delay between collecting refunds from Sellers and disbursing them to Buyers. Referred to as Forward funds to Buyer after (hours)”.