Chapter 6- Process Documents from Suppliers Flashcards
1
Q
what is a price enquiry?
A
- the buyer asks for a price
2
Q
what is a price quotation?
A
- the seller sends a price or a catalogue and the buyer decides whether to buy
3
Q
what is a purchase order?
A
- when the buyer places an order and the business receives the order (starts packing and shipping)
4
Q
what is a delivery note with goods?
A
- a note with goods or services supplied and a goods received note is prepared
5
Q
what is an invoice?
A
- the seller requesting payment from the buyer
6
Q
what is a returns note?
A
- if goods are faulty they may be returned with this note and a credit note is authorised
7
Q
what is a credit note?
A
- when the amount owed by a buyer to a seller is reduced by a credit note
8
Q
what is a statement?
A
- a statement sent to the buyer from the seller requesting final payment
9
Q
what is remittance advice?
A
- payment is finally made by the buyer to seller