I think source here refers to the source address (SA) of an ip packet.
It's for packets that originate from the outside. It
- translates the source of the IP packets that are traveling outside to inside
- translates the destination of the IP packets that are traveling inside to outside
And for ip nat inside source list, it's for packets that originated from the inside. It
- translates the source of IP packets that are traveling inside to outside
- translates the destination of the IP packets that are traveling outside to inside
It's important to note that they both do basically the same thing but the order of operations (like routing) is different depending on if you are natting from inside-to-outside vs outside-to-inside. Here is a good link on this issue: