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17 Cards in this Set
- Front
- Back
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revenue cycle
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recurring set of business activities and related information processing operations associated with providing goods and services to customers and collecting cash in payment for those sales
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1. sales order entry
2. shipping 3. billing 4. cash collections |
four basic revenue cycle activities
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revenue margin
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gross margin minus all expenses incurred to generate sales. it integrates the effects of changes in both productivity and customer behavior
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1. taking customer's order
2. checking and approving customer credit 3. checking inventory availability |
3 steps of sales order entry process
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sales order document
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usually an electronic form displayed on a computer monitor screen. includes item numbers, quantities, prices, and other terms of the sale
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electronic data interchange (EDI)
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the use of computerized communications and a standard coding scheme to submit business documents electronically in a format that can be automatically processed by the recipient's information system
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credit limit
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the maximum allowable account balance that management wishes to allow for a customer based on that customer's past credit history and ability to pay
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accounts receivable aging report
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lists customer account balances by length of time outstanding
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picking ticket
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lists the items and quantities of each item that the customer ordered. it authorizes the inventory control function to release merchandise to the shipping department
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customer relationship management (CRM) systems
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help organize detailed information about customers to facilitate more efficient and more personalized service
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1. picking and packing the order
2. shipping the order |
two steps of filling customer orders and shipping the desired merchandise
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radio-frequency data communication
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RFDC
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packing slip
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lists the quantity and description of each item included in the shipment
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bill of lading
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a legal contract that defines responsibility for the goods in transit
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sales invoice
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notifies customers of the amount to be paid and where to send payment
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open-invoice method
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customers typically pay according to each invoice. two copies of the invoice are mailed to customer, who returns one copy with the payment
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remittance advice
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one of the two copies of an invoice a customer send back with their payment
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