38681562
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 |
| VENDORS: Purchase Orders | To record our order of products from vendors. |
| VENDORS: Bill | To record our obligation to pay the vendor for the products (Accounts Payable). |
| VENDORS: Pay Bills | To pay our vendors bills for products received. |
| CUSTOMER: Invoice | To record resale of product to customer and the customer's promise to pay later (Accounts Receivable). |
| CUSTOMERS: Receive Payment | To record collection of the customer's payment. |
| CUSTOMERS: Bank Deposit | To record customer's payment in the bank account. |
| Inventory | Products that we buy for which we track quantities. |
| Non-Inventory | Products that we buy but don't need to track the quantity of the product. |
| Service | Services that we buy from vendors, such as legal services. |
| Bundle | A bundle is a collection of products and services that we sell together as a bundle. |
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