what information do you need to capture from a customer in order to accurately and completely fill an order?

Q: Define sales journal.

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: A. What document is used to create the Sales Order in the Revenue Cycle and where does itcome from?…

A: Answer a: Sales order is created by using a document formed by SAP.

Q: What document intiates the sales process

A: Answer: Sales order procedures involves accepting a customer order and processing it, filling the…

Q: Discuss how reengineering process of sales order processing subsystem be accomplished using the…

A:

Q: What document initiates the billing process?

A:

Q: Why do companies use sequential prenumbering for documents such as checks, sales invoices, and…

A: Pre numbered documents are a main feature of an internal control system. The pre numbering of…

Q: What is recording transactions in Merchandising concern?

A: Merchandise refers to the those transaction which are concerned with stock, purchase transactions,…

Q: OLTP VERSUS OLAP SERVERS For each of the following processes, state whether OLTP or OLAP is…

A: Meaning OLTP & OLAP OLAP means Online Analytical Processsing and OLTP means Online Transaction…

Q: What document initiates the sales process?

A:

Q: Demonstrate, using practical example how to prepare accounts from the Sales day book and Sales…

A: The sales day book is a manually-maintained ledger in which is recorded the key detailed information…

Q: All of the following functions are normally found within an organization's sales/collection except:…

A: An entity involved in sale of merchandise has to keep a track of multiple functions such as receipt…

Q: What is the business name of the vendor (seller)? How do you know this? (using the image)

A: Here in this question, we are required to answer the name of seller. Seller is the person who sells…

Q: The outputs of a computerized accounting information system are called Reports. Software.…

A: Accounting information systems: Accounting information system is a system that collects, stores,…

Q: Distinguish between the sales order, billing, and AR departments. Why can’t the sales order or AR…

A: The sales order, billing and AR department are responsible for placing the orders from the…

Q: Explain the posting process of the sales journal?

A: Sales JournalThe Sales Journal is used to record the transaction when the sale of merchandise…

Q: What purpose is served by prenumbering sales orders, shipping documents, and sales invoices?

A: Revenue Cycle: Revenue cycle records all the transactions that originate from selling a product and…

Q: (A) Explain the fundamental purpose of the sales and collection process. (B) Differentiate between a…

A: The process of sales and collection is officially known as Sales and Collection Cycle and RRR…

Q: Explain an example how to record sales revenue.

A: Sales revenue is the revenue from the sales generated by the company. The sales may be either cash…

Q: journal

A: Purchase journal is a systematic book where Purchase related transactions are recorded. It is also…

Q: In a manual accounting system, what advantage does the journal voucher system have over the…

A: Journal  Voucher Journal voucher is a special source of document which has been replaced for general…

Q: Compare and contrast a manual accounting system for processing customer transactions. Include an…

A: A manual accounting system is a bookkeeping system for recording business activity transactions,…

Q: In a good internal control​ system, which of the following sets of documents is required for proper…

A: Solution: In a good internal control system, for approval of payment we should do 3 way matching…

Q: Why is a “blind” purchase order used as a receiving report document?

A: Blind Purchase Order: Blind purchase order contains all the information related to the purchase of…

Q: Describe post sales service arrangements the firm does or should provide

A: After sale services help the companies achieve customer satisfaction and retain their customers.…

Q: d. The sales department approves sales credit memos as the result of product returns and forwards…

A: The sales department of the company is responsible for recording the sales made by the company…

Q: Explain how to journalize sales transactions.

A: Journal Entry:   It is a systematic record of a financial transaction of an organization recorded in…

Q: For each of the following processes, state whether OLTP or OLAP is appropriate, and why. a. An…

A:

Q: What represents a company’s primary means of cummunicaying information to external users?

A: First of all, we need to understand who are external users- these are the people who are interested…

Q: what is the difference between internal and external users of information, their needs and demands…

A: Accounting Information System (AIS):   The system which helps to gather, store and process the…

Q: What accounts are affected when a bill from a vendor supplying you products is recorded

A: when vendors supply products to the company the following accounts will be affected -   1) if we are…

Q: What general ledger journal entries does the purchases system trigger? From which departments do…

A: Purchasing System: The identification and procurement of the inventory needs for the organization is…

Q: What is an order book?

A: Introduction: Order books are utilized by almost every exchange for numerous assets like stocks,…

Q: Differentiate between source documents and vouchers.

A: A source document is generated routinely when the transaction takes place as a cash memo; invoice,…

Q: Which onscreen form is usually used to record a sales transaction that the customer will pay later?…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Describe the data flow in the buying process that begins when the purchasing organization sends a…

A: The Answer:

Q: Describe a service company, and give an example.

A: Business organization: Business organization refers to the structure of business that the structure…

Q: Which files do you usually find in a sales order module versus an accounts receivable (customer)…

A: Sale is the outflow of the commodities or the inventory held with the business entity to generate…

Q: For each of the following items, indicate whether a sequential, block, group, alphabetic, or…

A: State Codes - Alphabetic Code - Because it corresponds to abbreviation of postal Service.  Check…

Q: What is an accounting information system (AIS)?

A: Accounting Information System:It is a process which collects data, processes the same into…

Q: What is a walkthrough of a sales transaction? How can the walkthrough work complement the use of an…

A: Internal control- It is a process of assuring to achieve organizational's objectives by doing…

Q: State the purpose of footing the total column in the client’saccounts receivable trial balance,…

A: A necessary audit procedure is to test the information on the client's trial balance for detail…

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.