Flashcards
Computer Accounting with QuickBooks Online - Chapter 5 - Key Terms – Customers and Sales
Flashcards do conjunto (15)
- 1Invoice formIs used to record a sales transaction when the product or service is provided to the customer and the customer promises to pay later.
- 2Accounts receivableCustomer promises for amounts that we expect to receive in the future.
- 3Receive Payment formIs used to record a related sales transaction when a customer pays its account with cash, check, credit card, or online payment.
- 4Estimate formIs used to record estimated amounts for products and services to be provided to a customer in the future.
- 5Credit Memo formIs used when we need to record a credit, or reduction, in the amount the customer is charged.
- 6Sales ReceiptIs 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.
- 7Refund ReceiptIs used when we give the customer a refund.
- 8Delayed CreditIs used to record a pending credit to a customer that will occur at a specified future date.
- 9Delayed ChargeIs used to record a pending charge to a customer that will occur at a specified future date
- 10InventoryProducts that we sell for which we track quantities.
- 11Non-inventoryProducts that we sell but we don’t need to track the quantity of the product.
- 12ServiceServices that we provide to customers.
- 13BundleIs a collection of products and services that we sell together as a bundle.
- 14Direct write-off methodMethod which records bad debt expense when it becomes apparent that the customer is not going to pay the amount due.
- 15Allowance methodMethod which estimates bad debt expense and establishes an allowance or reserve for uncollectible accounts; the estimate can be calculated as a percentage of credit sales or as a percentage of accounts receivable.
Informações
- Descrição
- Computer Accounting with QuickBooks Online - Chapter 5 - Key Terms – Customers and Sales
- Criado por
- Susan Esch
- Visualizações
- 45
- Tags
- Avaliação