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Terms in accounting information systems relating to the revenue cycle process

balance-forward processing

a customer's remittances are applied against a customer's outstanding balance rather than against individual invoices

bill of lading

the invoice received from a carrier for shipments

blanket order

a single order that calls for several shipments to the same customer over a specific time period

credit memo

a form used to document reductions to a customer's account due to sales returns or sales allowances

customer audit

procedure in which the customer acts as a control over the initial documentation of a transaction

cycle billing plan

the processing of accounts receivable is subdivided by alphabet or account number in order to distribute the preparation of statements over the working days of the month


the selling of accounts receivable at a discount to a collection agency


the time between the signing of the payment check by the customer and the moment the firm has use of the funds

goods issue notice

documentation that is forwarded to the billing function to evidence a shipment to a customer

imprest techniques

a control technique in which an item is held account to a specified total amount


A document similar to a quotation that does not contain delivery information


the document that informs a customer of charges for goods or services rendered

lock-box deposit system

customer remittances are sent directly to a bank and are credited to a company's outstanding balance

open-item processing

a customer's remittances are applied against individual invoices rather than against the customer's outstanding balance

professional shoppers

people hired to purchase goods in a retail environment for the specific purpose of observing the recording of transactions


a document sent to a potential customer to inform him or her of product prices, product availability, and delivery information.

remittance list

a listing of customer remittances that is prepared for control purposes

sales order

a document prepared to initiate the shipment of goods to a customer

shipping advice

synonym for goods issue notice

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