Glossary

Each entry defines a finance, tax, payroll, HR, company or security term you meet in Every or on these pages, in one sentence.

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Access and security

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API key

A secret code an app sends with each request to prove it can use an API See: API

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MCP

Model Context Protocol: an open standard for connecting AI apps to outside tools and data See: MCP, MCP for employees

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MFA

Multi-factor authentication: signing in with a second proof of who you are, such as a code, besides your password Also called: two-factor authentication, 2FA, multi-factor authentication

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OAuth

An open standard that lets one app use your account in another with your consent, without your password

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Passkey

A sign-in credential stored on your device and unlocked with your fingerprint, face or PIN instead of a password

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Personal access token

A secret code tied to your account that lets an app act on your behalf without your password Also called: personal token, personal MCP token, MCP token See: MCP

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Banking and payments

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ACH

Automated Clearing House: the U.S. network that moves money between bank accounts in batches Also called: ACH transfer, ACH payment See: Send money

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Autopay

A setting that pays a bill or a card balance from an account you choose when it’s due See: Credit card

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Callback

A phone call a bank makes to confirm a payment request is genuine before it sends the money Also called: callback verification

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Credit limit

The most a lender lets you owe on a card or line of credit at one time See: Credit card

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CVV

Card verification value: the security code used to help verify a payment card during online or phone purchases See: Company cards

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FDIC

Federal Deposit Insurance Corporation: the U.S. government agency that insures deposits at member banks, up to a limit Also called: FDIC insurance

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Foreign exchange markup

A charge built into the rate used to exchange one currency for another Also called: markup See: Pay a vendor abroad

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IBAN

International Bank Account Number: the standard account number format many countries outside the U.S. use See: Pay a vendor abroad

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Maturity

The date when a debt investment’s term ends and its issuer must repay it Also called: mature, matured, maturing, maturity date See: Treasury

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MCC

Merchant category code: the 4-digit number card networks use to classify what kind of business a merchant is Also called: merchant category code See: Company cards

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Money market fund

A fund that invests in short-term, low-risk debt, such as Treasury bills, and aims to keep a stable value Also called: money market See: Treasury

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Purpose code

A code that tells banks the reason for a payment See: Pay a vendor abroad

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Remittance email

An email address where a vendor receives notices about payments Also called: remittance email address See: Upload bills

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Routing number

The 9-digit number that identifies a U.S. bank in ACH payments, wires and checks Also called: ABA routing number, ABA number, ABA See: Checking account

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Soft credit inquiry

A check of your credit report that doesn’t affect your credit score See: Credit card

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Sort code

The 6-digit number that identifies a bank and branch in the United Kingdom See: Pay a vendor abroad

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SWIFT code

A code of 8 or 11 characters that identifies a bank in an international payment Also called: BIC, BIC/SWIFT code, SWIFT/BIC code, SWIFT / BIC See: Pay a vendor abroad

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Treasury bill

A U.S. government security that matures in a year or less, sold below its face value and repaid in full Also called: T-bill, U.S. Treasury bill See: Treasury

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Wire transfer

A payment that moves money directly from one bank to another, one payment at a time Also called: wire, bank wire See: Move money, Send money

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Yield

The yearly return an investment pays, as a percentage of what you put in See: Treasury

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Accounting and tax

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1099

A family of IRS forms that report income other than wages, such as payments to contractors Also called: Form 1099 See: Request 1099s, Paystubs and tax forms

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1099-NEC

The 1099 for nonemployee compensation, which reports what a business paid a contractor in a year See: Request 1099s

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Accounting basis

The method a business uses to decide when to record income and expenses See: Accounting insights

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Accrual basis

An accounting method that records income when it’s earned and expenses when they’re incurred, not when cash moves Also called: accrual accounting See: Accounting insights

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Balance sheet

A report of what a company owns, what it owes and its owners’ equity on a given date See: Financial reports

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Burn rate

How much more cash a company spends than it takes in each month Also called: burn, net burn See: Accounting insights

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Cash basis

An accounting method that records income and expenses when cash comes in or goes out Also called: cash accounting See: Accounting insights

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Cash equivalents

Short-term investments readily converted to known cash amounts, with little risk of changing value See: Financial reports

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Cash flow statement

A report of the cash that came into and went out of a company over a period See: Financial reports

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EIN

Employer Identification Number: the 9-digit number the IRS gives a business to identify it for taxes Also called: FEIN, Employer Identification Number, federal employer identification number See: Incorporate your company

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Expense account

A category in a company’s books for recording costs such as rent, supplies or wages See: Accounting settings

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Expense coding

Assigning expenses to the accounting categories used to record and report them See: Expenses

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General ledger

The complete record of a company’s transactions, sorted into its accounts Also called: ledger

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Liability account

A category in a company’s books for tracking debts and other obligations See: Accounting settings

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Payroll journal

A record of payroll transactions, including employee earnings, deductions, taxes and net pay See: Accounting settings, Payroll and people reports

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Profit and loss statement

A report of a company’s income, expenses and profit or loss over a period Also called: P&L, income statement, profit and loss See: Financial reports

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QBO

QuickBooks Online: the version of Intuit’s accounting software that runs in a web browser Also called: QuickBooks Online See: Accounting settings

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QuickBooks class

A label in QuickBooks for tracking income and expenses by department, location or another part of a business See: Accounting settings

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Reconciliation

Checking a company’s books against its bank and card statements to confirm they match Also called: reconcile, reconciled

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Runway

How many months a company can keep operating at its current burn rate before its cash runs out See: Accounting insights

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Shareholders’ equity

The value left for a company’s owners after subtracting its liabilities from its assets See: Financial reports

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SSN

Social Security number: the 9-digit number the U.S. Social Security Administration gives a person Also called: Social Security number

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TIN

Taxpayer Identification Number: the number the IRS identifies a taxpayer by, such as an SSN or an EIN Also called: Taxpayer Identification Number See: Request 1099s, Vendors

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W-9

The IRS form a U.S. vendor or contractor fills in to give a business their name and TIN Also called: Form W-9 See: Collect vendor details

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Payroll and HR

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Accrual rate

How fast an employee earns paid time off, such as a set number of hours for each hour worked See: Time off

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ASO

Administrative services organization: a firm that runs HR and payroll tasks for a company without becoming a co-employer Also called: administrative services organization

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Courtesy withholding

Income tax an employer withholds for an employee’s home jurisdiction without being required to do so See: Payroll taxes

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EOR

Employer of record: a company that legally employs a worker for another company and runs their payroll and compliance Also called: employer of record See: Add people

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Exempt employee

An employee whose salary and duties mean U.S. law doesn’t require overtime pay for them Also called: overtime exempt, exempt from overtime

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FICA

Federal Insurance Contributions Act: the Social Security and Medicare taxes employers and employees each pay on wages

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Form 8655

Reporting Agent Authorization: the IRS form that lets a payroll provider file and pay a company’s payroll taxes Also called: Reporting Agent Authorization See: Add your employees

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Fringe benefit

Compensation beyond regular wages, such as employer-provided insurance or personal use of a company car See: Payroll settings

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Garnishment

Money withheld from an employee’s pay by court or government order, such as for child support or unpaid taxes Also called: wage garnishment See: Deductions

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Gross pay

What an employee earns before taxes and deductions come out See: Run payroll

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I-9

Employment Eligibility Verification: the U.S. form an employer completes to confirm that a new hire may work in the country Also called: Form I-9 See: Add people, Paystubs and tax forms

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Imputed income

The taxable value of a noncash benefit added to an employee’s taxable wages See: Payroll settings

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Net pay

What an employee takes home after taxes and deductions Also called: take-home pay See: Run payroll

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Off-cycle payroll

A pay run outside the regular schedule, such as for a bonus, a correction or a final paycheck Also called: off-cycle, off-cycle run See: Create an off-cycle or bonus pay run

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Pay period

The dates an employee’s pay covers, such as two weeks or a calendar month Also called: payroll cycle See: All pay runs

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PEO

Professional employer organization: a firm that co-employs a company’s staff to run their payroll, benefits and HR Also called: professional employer organization

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Post-tax deduction

Money taken from an employee’s pay after taxes have been calculated and withheld See: Deductions

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Proration

Adjusting pay in proportion to the part of a pay period an employee worked Also called: prorate, prorated See: Run a termination payroll

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PTO

Paid time off: time away from work, such as vacation or sick days, that an employee is paid for Also called: paid time off See: Time off

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W-2

The yearly IRS form that shows an employee’s wages and the taxes withheld from them Also called: Form W-2 See: Paystubs and tax forms

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W-4

The IRS form an employee fills in to tell their employer how much federal income tax to withhold Also called: Form W-4

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Withholding

Tax an employer takes out of an employee’s pay and sends to the government for them See: Payroll taxes

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Benefits

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401(k)

A U.S. retirement savings plan an employer sponsors, which employees pay into from their paychecks before or after tax See: Retirement

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Carrier

The insurance company that provides a benefits plan and pays its claims See: Health, Dental and Vision

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COBRA

Consolidated Omnibus Budget Reconciliation Act: the U.S. law that lets people keep employer health coverage when they’d otherwise lose it

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FSA

Flexible spending account: an account employees fund from pre-tax pay to spend on eligible health or dependent care costs Also called: flexible spending account See: Financial benefits

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HRA

Health reimbursement arrangement: an employer-funded benefit that reimburses employees for eligible medical expenses Also called: health reimbursement arrangement See: HRA-enabled plans

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Open enrollment

The yearly window when employees can choose or change their benefits See: Health, Dental and Vision

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Premium

The regular payment that keeps an insurance plan active See: Health, Dental and Vision

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Qualifying life event

A change such as marriage, a birth or losing other coverage that lets someone change their benefits outside open enrollment Also called: QLE, qualified life event See: Health, Dental and Vision

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Roth 401(k)

The part of a 401(k) plan funded with after-tax pay, allowing tax-free withdrawals when IRS requirements are met See: Deductions

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Workers’ compensation

Insurance that pays an employee’s medical costs and lost wages when they’re hurt or fall ill because of work Also called: workers’ comp See: Workers’ compensation

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Incorporation and equity

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83(b) election

A filing with the IRS choosing to be taxed on restricted stock when it’s granted, rather than as it vests Also called: 83(b) See: Incorporate your company

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Authorized shares

The most shares a corporation may issue, as set in its Certificate of Incorporation See: Incorporate your company

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Authorized signatory

A person allowed to sign documents and agreements on a company’s behalf Also called: signatory, company signatory See: Payroll settings

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Board of directors

The group stockholders elect to oversee a company and make its major decisions Also called: board See: Incorporate your company

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Bylaws

A corporation’s internal rules for making decisions and setting the responsibilities of its officers and stockholders See: Incorporate your company

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C corporation

A corporation taxed separately from its owners, the type most venture-backed startups use Also called: C-Corp, C corp See: Incorporate your company

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Cap table

A record of who owns a company’s shares and other equity, and how much each owns Also called: capitalization table See: All documents

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Certificate of Incorporation

The document filed with a state to form a corporation, setting out its name, shares and other basics Also called: certificate of incorporation, COI See: Incorporate your company

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CIIAA

Confidential Information and Invention Assignment Agreement: a contract that protects company secrets and assigns work inventions to the company Also called: Invention Assignment Agreement See: Add people

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Cliff

The time someone must stay with a company before the first part of their equity vests See: Incorporate your company

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CSPA

Common Stock Purchase Agreement: the contract under which someone buys shares of a company’s common stock Also called: stock purchase agreement See: Incorporate your company

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DBA

Doing business as: a name a company uses with customers that differs from its legal name See: Company information

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Delaware C corporation

A C corporation formed in Delaware, the state most venture-backed startups incorporate in Also called: DE C-Corp, Delaware C-Corp See: Incorporate your company

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Delaware franchise tax

The yearly tax a Delaware corporation pays to keep its good standing with the state Also called: franchise tax

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Entity type

The legal form or tax classification of a business or person, such as a corporation, partnership or sole proprietor See: Vendors

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Equity

Ownership in a company, held as shares or as the right to buy them

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Form 8821

Tax Information Authorization: the IRS form that lets someone a taxpayer names see the taxpayer’s tax records Also called: Tax Information Authorization See: Incorporate your company

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Founder

Someone who starts a company and builds it, alone or with co-founders Also called: co-founder See: Incorporate your company

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Issued shares

Authorized shares a corporation has given to its stockholders

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LLC

Limited liability company: a business that shields its owners from its debts and is taxed through them by default Also called: limited liability company

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Officer

Someone the board appoints to a formal role in a company, such as CEO, CFO or Secretary Also called: corporate officer See: Incorporate your company

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Registered agent

A person or service named to receive legal and government mail for a company in its state See: Open a bank account

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Responsible party

The person an EIN application names as owning or controlling the business

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SAFE

Simple agreement for future equity: an investment that turns into shares at a later priced funding round Also called: simple agreement for future equity

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SS-4

The IRS form a business files to apply for an EIN Also called: Form SS-4 See: Incorporate your company

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Statement of Information

A California filing that lists a company’s addresses, its officers or managers and its agent for service of process See: Health, Dental and Vision

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Stock grant

An award of company shares or rights to acquire them, under conditions set by the grant agreement See: Add people

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Stockholder

A person or company that owns shares in a corporation Also called: shareholder See: Incorporate your company

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Strike price

The fixed price per share paid to buy stock when exercising a stock option See: Payroll and people reports

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Unissued shares

Authorized shares a corporation hasn’t issued yet, kept for later use such as an equity plan

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Vesting

Earning full ownership of shares or options over time, as long as you stay with the company Also called: vest, vested See: Incorporate your company

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In Every

These are Every’s own names that get mixed up with the terms above, or with each other.

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Checking autopilot

A setting that keeps your checking balance above a minimum you choose, using your money market or a backup account Also called: minimum balance automation, minimum balance autopilot See: Checking account

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Payments

The sidebar item for paying bills and managing vendors, once called Bill pay Also called: Bill pay See: All payments

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Payroll autopilot

A pay schedule setting that has Every submit eligible pay runs for you See: Payroll settings

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Treasury

Every’s account for investing company cash in money market funds and U.S. Treasury bills See: Treasury

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Treasury autopilot

A Treasury setting that buys new 1-month Treasury bills when the ones you hold mature Also called: Rollover autopilot See: Treasury