38669099
Description
Flashcards by Regan Deckinger, updated more than 1 year ago
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Created by Regan Deckinger
over 1 year ago
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| Question | Answer |
| Invoice Form | Used to record a sales transaction when the product or services is provided to the customer and the customer promises to pay later. |
| Receive Payment Form | Used to record a related sales transaction when a customer pays its account with cash, check, credit card, or online. |
| Estimate Form | Used to record estimated costs of products and services to be provided to a customer in the future. |
| Credit Memo Form | Used when we need to record a credit, or reduction, in the amount the customer is charged. |
| Sales Receipt | 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 | Used when we give the customer a refund. |
| Delayed Credit Form | Used to record a pending credit to a customer that will occur at a specified future date. |
| Delayed Charge Form | 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, such as dog hammocks that Mookie The Beagle Concierge sells. |
| Non-Inventory | Products that we sell but we don't need to track the quantity of the product. |
| Service | Services that we provide to customers, such as pet care services that Mookie The Beagle Concierge provides. |
| Bundle | A collection of products and services that we sell together as a bundle. |
| Direct write-off method | Records bad debt expense when it becomes apparent that the customer is not going to pay the amount due. |
| Allowance Method | Estimates bad debt expense and establishes an allowance or reserve for uncollectible accounts. |
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