Chapter 6- Process Documents from Suppliers Flashcards

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1
Q

what is a price enquiry?

A
  • the buyer asks for a price
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2
Q

what is a price quotation?

A
  • the seller sends a price or a catalogue and the buyer decides whether to buy
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3
Q

what is a purchase order?

A
  • when the buyer places an order and the business receives the order (starts packing and shipping)
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4
Q

what is a delivery note with goods?

A
  • a note with goods or services supplied and a goods received note is prepared
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5
Q

what is an invoice?

A
  • the seller requesting payment from the buyer
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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
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7
Q

what is a credit note?

A
  • when the amount owed by a buyer to a seller is reduced by a credit note
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8
Q

what is a statement?

A
  • a statement sent to the buyer from the seller requesting final payment
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9
Q

what is remittance advice?

A
  • payment is finally made by the buyer to seller
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