by Saleh S. Abu-keshek on 5:32 AM
The Revenue Cycle related concepts
REVENUE CYCLE BUSINESS ACTIVITIES:
Four basic business activities are performed in the revenue cycle :
- -Sales order entry
- -Shipping
- -Billing
- -Cash collection
Definitions
- Sales order : contains information about item numbers , quantities , prices , and other items of the sale.
- Back order : a notification to the customer that his order can not be available .
- Picking ticket : a list contains the items & it's quantities .
- Packing slip : lists the quantitie & description of each item included in the shipment .
- Bill of lading : a legal contract that defines responsibility for the goods in transit .
- a lockbox : a postal address to which customers sends their remittances .
- EFT (electronic funds transfer) : a way to make customers send their remittances
- electronically to the company's bank .
- FEDI (financial electronic data interchange) : an electronic system that solve the
- additional data transfering in the EFT by integrats it with the EDI .
