Receiving

Sales order entry

Shipping

Billing

provide quality product in order to maximize market share.

lower expenses.

maximize the company's profit.

provide the right product in the right place at the right time for the right price.

determine whether the firm's pricing policy is effective

identify customers who have not purchased anything lately

spot firms who are falling behind in their payments

improve the speed which customers make payments

an electronic lockbox.

Financial Electronic Data Interchange.

to use procurement cards.

e-commerce.

several banks around the country are used, in order to minimize the time payments spend in the mail.

the bank deposits the payments and accesses the customer's information system to record the payments.

the bank is located nearby to the company, so remittance advices can be delivered to the company every day.

an arrangement is made with only one bank, so all remittance advices can be batched for processing.

Sequentially prenumber all invoices and prepare a sequence check at the end of each day.

Send monthly statements to all customers with balances owed.

Reconcile sales invoices in the billing department to the total debits to accounts receivable subsidiary ledgers.

Reconcile the accounts receivable control account to the accounts receivable subsidiary ledger.

open-invoice

continuous

balance forward

cycle billing

sales order

sales invoice

bill of lading

packing list

a packing slip and a bill of lading

a bill of lading and an invoice

an invoice and a sales order

an invoice and a packing slip

8

2

5

10