Erstellt von Richard Kramer
vor 10 Tage
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Frage | Antworten |
Invoice | Product is provided and pay is later |
Receive Payment | Received payment and recorded |
Estimate | Recorded estimate amounts to be provided to customer in the future |
Credit Memo | Record credit/reduction in amount charged |
Sales receipt | Paid at time of receipt of product/service |
Refund receipt | Used for refunds |
Delayed credit | Pending credit to customer |
Delayed charge | Pending charge to customer |
Lists used for sales | Customer and Product/services |
Customer list | Collects and stores information about the customer |
When can you update the Customer list | Before and while entering transactions |
Projects | Can be linked to customers or a Sub-customer linked to customer |
Sub-customers | Can be made into a project but a project cannot be converted into a Sub-customer |
Products and services | Inventory, non-inventory, service, bundle |
Inventory | Products sold, quantities are tracked |
Non-inventory | Products sold, quantities not tracked |
Service | Services provided |
Bundle | Collection of products and services sold together |
Sales receipts are | Entered when paid |
Invoices are | Paid later |
Sales receipts can be deposited to | Checking or payment to deposit |
Payment to deposit account | funds recorded must be transferred from here to checking account using a bank deposit form. Allows for multiple sales to be grouped into one bank deposit |
Direct Write Off | Bad debt expense recorded from uncollectible account. Used for tax purposes. |
Allowance Method | Estimates bad debt expense and establishes an allowance for uncollectable accounts. Usually, a percentage of sales or of the account receivable account. |
Advantage of the customer list | Reduces error and saves time |
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