38083861
Description
Flashcards by QUINLAN WILSON, updated more than 1 year ago
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Created by QUINLAN WILSON
over 1 year ago
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| Question | Answer |
| Invoice | The invoice form is used to record a sales transaction when the product or service is provided to the customer and the customer promises to pay later. |
| Accounts Receivable | Amounts that we expect to receive in the future |
| Receive Payment | used to record a related sales transaction when a customer pays its account with cash, check, credit card, or online payment. When a customer payment is received and recorded, the customer's accounts receivable balance is reduced by the amount of the customer payment. |
| Estimate | The estimate form is used to record estimated costs of products and services to be provided to a customer in the future. |
| Credit Memo | A credit memo form is used when we need to record a credit, or reduction, in the amount the customer is charged. |
| Sales Receipt | A sales receipt form is used to record a sales transaction when the customer pays at the same point in time that the product or service is provided to the customer. |
| Refund Receipt | The refund receipt form is used when we give the customer a refund |
| Delayed Credit | A delayed credit form is used to record a pending credit to a customer that will occur at a specified future date. |
| Delated Charge | A delayed charge form is used to record a pending charge to a customer that will occur at a specified future date. |
| Inventory | Products that we sell for which we track quantities |
| Non-inventory | Products that we sell but we do not need to track the quantity of the product |
| Service | Services that we provide to customers |
| Bundle | A bundle is a collection of products and services that we sell together as a bundle |
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