Glossary
Below are terms and definitions you may hear often. Please refer to the FAQ page for more details on each term.
Closed Accounts – Accounts that are closed temporarily because of non-payment, over the credit limit, or updated credit information needed.
Conversion Period – A 120-day period when service is started with IBS. During the 120 days every invoice is the client's liability. This period is set up for IBS to get to know your company and the customer as well as your company and the customer to know us.
Credit Limit – The IBS internal credit guideline. Based on credit references and customer pay experience
Customer Information/Status Change Notice – A notification of a change in a customer's account that is sent to your company everyday by fax or email. Example: When an account is closed or opened, sale limit is changed, address and/or phone number change.
CustomerConnect – Website that your customers can log into to obtain information about their IBS account.
ClientConnect – Our website where you, our client, can log into to obtain vital information about your customer.
Client Liability – Invoices that are submitted to IBS without proper approval or that breach warranties of the IBS/Client Agreement
Client Number – 3-digit number set up for your company by IBS.
Dispute – A disagreement between your customer and your company that must be resolved between the two of you.
IBS Account Number – 6-digit number set up for your customers by IBS.
Offsets – Where the customer does not pay IBS because your company has not paid them. Recourse Accounts-Specific accounts your company has agreed to accept liability for
Sale approval – When an invoice is over the sale limit and you call IBS to get a computer generated approval number.
Sale Limit – Not a credit limit. This is a limit your customer can charge per invoice (unless approved).
Split Invoices – When one invoice is split up into several invoices to avoid calling in for a sale approval.
Stale Dated Invoices – Invoices more than 10 days old.