Glossary of Terms

BandMath uses some specific terminology to handle the complexities of tour accounting. If you're ever confused by a term in the app, you can reference this glossary.

Active Profile

A band member who has downloaded the BandMath app, created an account, and linked it to the band workspace using an Invite Code.

Automated Debt Settlement

BandMath's core algorithm. Instead of creating a complex web of "who owes who" based on individual transactions, the algorithm analyzes the net balances of everyone in the band and outputs the absolute simplest way to settle all debts with the fewest number of cash transfers.

The Band Bank

A special, permanent member profile created automatically for every band. It represents the communal pool of money owned by the band as a business entity (e.g., your shared business checking account or the physical cash box in the van).

The Penny Catcher

Our advanced profit-splitting algorithm. When an expense or income is split among multiple members, the division rarely works out to clean integers (e.g., $10.00 split 3 ways is $3.33333...). The Penny Catcher ensures that fractions of a cent are never lost or infinitely rounded, guaranteeing that the ledger balances perfectly to the penny.

Shadow Profile

A member profile created by an Admin to track the finances of someone who has not (or will not) download the BandMath app. The Admin logs transactions on their behalf.

The VAT Bank

A special, permanent member profile used exclusively to hold Value-Added Tax (VAT) or sales tax. When you sell merch, the tax portion of the sale is automatically transferred to the VAT Bank, ensuring you don't accidentally spend money that you owe to the government.

Groovatar

A Groovy Avatar! These are funky, musically-themed characters that pop up on loading screens throughout the app. They are also used as default placeholder images when transaction receipts or merch inventory photos are not available.