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Created by Stephanie Spearman
almost 2 years ago
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Question | Answer |
vendor transactions | include playing product orders, receiving products and paying bills |
customer transactions | include recording sale of product on invoices and receiving customer payments |
inventory | products we buy for which we track quantities |
non-inventory | products that we buy but we don't need to track the quantity of the product |
service | services that we buy from vendors |
bundle | a collection of products and services that we sell together as a bundle |
purchase order | record of an order to purchase products from a vendor |
Pay Bills | to select the bills that are due and we are ready to pay |
invoice | used to record sales when the customer will pay later |
internal control | set of processes and procedures to safeguard assets and detect errors |
3 way match | compares: what was ordered? what was received: what was billed? |
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