Create an account
the recurring set of busi activities and info processing operations associated with providing goods and services to customers an collecting cash in payment for those sales
the document created during sales order entry listing the item numbers, quantities, prices, and terms of the sale
Interactive sales order entry systems that allow customers to customize the products that they are ordering
vendor managed inventory VMI
when manufacturers and distributors manage a retail customer's inventory using and EDI
the maximum allowable acount balance for each customer, based on past credit history and ability to pay
a document authorizing the purchase or produciton of items for which sufficient quantity is not available to meet customer orders.
a document authorizing the inventory control function to release merchandise to the shipping department, often printed so that the item numbers and quantities are listed in the sequence in which they can be most efficiently retrieved from the warehouse.
bill of lading
a legal contract that defines responsibility for goods while they are int ransit. It identifies the carrier, source, destination, any special shipping instructions, and indicates which party must pay the carrier
method for maintaining a/r in which customers typically pay according to each invoice. usually, two copies of the invoice are mailed to the customer, who is requested to return one copy with the payment
an enclosure included with a customer's payment that indicates the invoices, stmts, or other items paid
method of maintaining a/r in which customers typically pay according to the amount shown on a mthly stmt, rather than by individual invoices. remittances are applied against the total account balance rather than against specific invoices.
a document summarizing all transactions that occured during the past month and informing customers of their current account balance.
a procedure for producing monthly stmt for subsets of customers at different times. ex the custoemr master file might be divided into four parts, and each week monthly statements would be prepared for one-fourth of the customers.
a document authorizing the billing department to credit the customer's account. usually issued for sales returns, allowances granted for damaged goods kept by the customer, or write off uncollectible accounts. approved by credit mger.
a postal address to which customers send their remittances.this post office box is maintained by the participating bank, which picks up the checks each day and deposits them to the company's account. the bank sends the remittance advices, and electronic list of all remittances, and digital copies of all checks to the company.
a lockbox arrangement in which the bank electronically sends the company info about the customer account number and the amount remitted as soon as it receives and scans those checks. this enables the company to begin applying remittances to customer accounts before the photocopies of the checks arrive.
electronic funds transfer EFT
the transfer of funds bw two or more org of individuals using computers and otehr automated technology. customers can send their remittances electronically to the company's bank and thus eliminate the delay associated with the time the remittance is in the mail.
financial electronic data interchange FEDI
the combo of EFT and EDI that enables both remittance data and funds transfer instructions to be included in one electronic package.
sales analysis reports
reports used to assess the efficiency and effectiveness of the sales force by breaking down sales by salesperson, region, or product
profitability analysis reports
reports used to assess overall marketing performance by breaking down the marginal profit contribution made by each territory, customer, distribution channel, salesperson, product, or other basis.
a budget that shows projected cash inflows and outflows. can provide advance warning of cash flow problems so corrective actions are taken
Please allow access to your computer’s microphone to use Voice Recording.
Having trouble? Click here for help.
We can’t access your microphone!
Click the icon above to update your browser permissions and try again
Reload the page to try again!Reload
Press Cmd-0 to reset your zoom
Press Ctrl-0 to reset your zoom
It looks like your browser might be zoomed in or out. Your browser needs to be zoomed to a normal size to record audio.
Please upgrade Flash or install Chrome
to use Voice Recording.
For more help, see our troubleshooting page.
Your microphone is muted
For help fixing this issue, see this FAQ.
Star this term
You can study starred terms together