What are the major processes involved in generating and recording a sales transaction? What are the major
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The major processes involved in generating and recording of a sales transaction and related documents include Processes Documents Generated 1 Receipt of customer purchase order or generation of sales order based on customer inquiry 1 Purchase order from customer or sales order 2 Inquiry of current inventory status 2 No document Response is made to inquiry 3 Generation of backorder where applicable and desired by customer 3 Backorder confirmation sent to customer 4 Credit approved for shipment 4 Confirmation number or formal signature to sales person for entry on sales order 5 Shipping and packing instructions and documents prepared 5 Packing slips Inventory picking tickets Shipping instructions 6 Shipping department records goods shipped and send verification back to billing for generation of invoice 6 Bill of lading shipping document given to shipper Packing slip or some similar document used to capture shipping information to send back to billing function 7 Preparation of invoice 7 Invoice 8 Monthly statement sent to clients 8 Monthly statement of open items 9 Payment is received 9 Turnaround document ...View the full answer
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Divya Munir
I hold M.Sc and M.Phil degrees in mathematics from CCS University, India and also have a MS degree in information management from Asian institute of technology, Bangkok, Thailand. I have worked at a international school in Bangkok as a IT teacher. Presently, I am working from home as a online Math/Statistics tutor. I have more than 10 years of online tutoring experience. My students have always excelled in their studies.
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ISBN: 978-0324375589
6th Edition
Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston
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