GAAP

Meaning

GAAP or the Generally Accepted Accounting Principles, are accounting principles large businesses have to use in the United States.

Key points

• GAAP appears frequently in invoicing, payment handling, and bookkeeping workflows.
• The term improves clarity between clients, suppliers, and accounting teams.
• Consistent use supports cleaner documentation and better reporting quality.

Practical use

In Nexbal workflows, gaap is used to keep invoice and payment operations structured and auditable.