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19 Cards in this Set
- Front
- Back
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Balance Forward Processing
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A customer's remittance's are applied against a customer's outstanding balance rather than against individual invoices
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Bill of lading
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The invoice received from a carrier for shipments
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blanket order
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a single order that calls for several shipments to the same customer over a specified time period
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Credit Memo
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a form used to document reductions to a customer's account due to sale's returns or sales allowances
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Customer Audit
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procedure in which the customer acts as a control over the initial documentation of a transaction
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Cycle billing plan
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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
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Factoring
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the selling of accounts receivable at a discount to a collection agency
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Float
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the time between the signing of the payment check by the customer and the moment the firm has use of the funds
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Goods issue notice
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documentation that is forwarded to the billing function to evidence a shipment to a customer
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Imprest Techniques
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a control technique in which an item is held account to a specified total amount
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Inquiry
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a document similiar to a qoutation that does not contain delivery information
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Invoice
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the document that informs a customer of charges for goods or services rendered
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lock-box deposit systems
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customer remittances are sent directly to a bank and are credited to a company's account before they are posted to a customer's accounts
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Open-item processing
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a customer's remittance's are applied against individual invoices rather than against the customer's outstanding balance
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Professional shoppers
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people hired to purchase goods in a retail environment for the specific purpose of observing the recording of transactions
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Quotation
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a document sent to a potential customer to inform him or her of product prices,product availability, and delivery information
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Remittance list
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a listing of customer remittance's that is prepared for control purposes
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Sales order
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a document prepared to initiate the shipment of goods to a customer
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Shipping advice
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synonym for goods issue notice
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