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Remittance Advice
Remittance advice is a letter sent by a customer to a supplier to inform the supplier that their invoice has been paid. If the customer is paying by cheque, the remittance advice often accompanies the cheque. The advice may consist of a literal letter (e.g., "To Whom it May Concern: Your shipment of the 10th inst was received in good order; accompanying is our remittance of $52.47 per invoice No 83046") or of a voucher attached to the side or top of the cheque. Remittance advices are not mandatory, however they are seen as a courtesy because they help the accounts-receivable department to match invoices with payments. The remittance advice should therefore specify the invoice numbers for which payment is tendered. In countries where cheques are still used, most companies' invoices are designed so that customers return a portion of the invoice, called a remittance advice, with their payment. In countries where wire transfer is the predominant payment method, invoices are commo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Invoice
An invoice, bill or tab is a commercial document issued by a seller to a buyer relating to a sale transaction and indicating the products, quantities, and agreed-upon prices for products or services the seller had provided the buyer. Payment terms are usually stated on the invoice. These may specify that the buyer has a maximum number of days to pay and is sometimes offered a discount if paid before the due date. The buyer could have already paid for the products or services listed on the invoice. To avoid confusion and consequent unnecessary communications from buyer to seller, some sellers clearly state in large and capital letters on an invoice whether it has already been paid. From a seller's point of view, an invoice is a ''sales invoice''. From a buyer's point of view, an invoice is a ''purchase invoice''. The document indicates the buyer and seller, but the term ''invoice'' indicates money is owed ''or'' owing. Within the European Union, an invoice is primarily legally ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cheque
A cheque, or check (American English; see spelling differences) is a document that orders a bank (or credit union) to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued. The person writing the cheque, known as the '' drawer'', has a transaction banking account (often called a current, cheque, chequing, checking, or share draft account) where the money is held. The drawer writes various details including the monetary amount, date, and a payee on the cheque, and signs it, ordering their bank, known as the ''drawee'', to pay the amount of money stated to the payee. Although forms of cheques have been in use since ancient times and at least since the 9th century, they became a highly popular non-cash method for making payments during the 20th century and usage of cheques peaked. By the second half of the 20th century, as cheque processing became automated, billions of cheques were issued annually; these volumes pea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Voucher
A voucher is a bond of the redeemable transaction type which is worth a certain monetary value and which may be spent only for specific reasons or on specific goods. Examples include housing, travel, and food vouchers. The term voucher is also a synonym for receipt and is often used to refer to receipts used as evidence of, for example, the declaration that a service has been performed or that an expenditure has been made. Voucher is a tourist guide for using services with a guarantee of payment by the agency. The term is also commonly used for school vouchers, which are somewhat different. In tourism Vouchers are used in the tourism sector primarily as proof of a named customer's right to take a service at a specific time and place. Service providers collect them to return to the tour operator or travel agent that has sent that customer, to prove they have given the service. So, the life of a voucher is as below: # Customer receives vouchers from tour operator or travel age ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accounts Receivable
Accounts receivable, abbreviated as AR or A/R, are legally enforceable claims for payment held by a business for goods supplied or services rendered that customers have ordered but not paid for. These are generally in the form of invoices raised by a business and delivered to the customer for payment within an agreed time frame. Accounts receivable is shown in a balance sheet as an asset. It is one of a series of accounting transactions dealing with the billing of a customer for goods and services that the customer has ordered. These may be distinguished from notes receivable, which are debts created through formal legal instruments called promissory notes. Overview Accounts receivable represents money owed by entities to the firm on the sale of products or services on credit. In most business entities, accounts receivable is typically executed by generating an invoice and either mailing or electronically delivering it to the customer, who, in turn, must pay it within an es ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wire Transfer
Wire transfer, bank transfer, or credit transfer, is a method of electronic funds transfer from one person or entity to another. A wire transfer can be made from one bank account to another bank account, or through a transfer of cash at a cash office. Different wire transfer systems and operators provide a variety of options relative to the immediacy and finality of settlement and the cost, value, and volume of transactions. Central bank wire transfer systems, such as the Federal Reserves Fedwire system in the United States, are more likely to be real-time gross settlement (RTGS) systems, as they provide the quickest availability of funds. This is because they post the gross (complete) entry against electronic accounts of the wire transfer system operator. Other systems, such as the Clearing House Interbank Payments System (CHIPS), provide net settlement on a periodic basis. More immediate settlement systems tend to process higher monetary value time-critical transactions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cash Register
A cash register, sometimes called a till or automated money handling system, is a mechanical or electronic device for registering and calculating transactions at a point of sale. It is usually attached to a drawer for storing cash and other valuables. A modern cash register is usually attached to a printer that can print out receipts for record-keeping purposes. History An early mechanical cash register was invented by James Ritty and John Birch following the American Civil War. James was the owner of a saloon in Dayton, Ohio, US, and wanted to stop employees from pilfering his profits. The Ritty Model I was invented in 1879 after seeing a tool that counted the revolutions of the propeller on a steamship. With the help of James' brother John Ritty, they patented it in 1883. It was called ''Ritty's Incorruptible Cashier'' and it was invented to stop cashiers from pilfering and eliminate employee theft and embezzlement. Early mechanical registers were entirely mechanical, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Data Acquisition
Data acquisition is the process of sampling signals that measure real-world physical conditions and converting the resulting samples into digital numeric values that can be manipulated by a computer. Data acquisition systems, abbreviated by the acronyms ''DAS,'' ''DAQ,'' or ''DAU,'' typically convert analog waveforms into digital values for processing. The components of data acquisition systems include: * Sensors, to convert physical parameters to electrical signals. * Signal conditioning circuitry, to convert sensor signals into a form that can be converted to digital values. * Analog-to-digital converters, to convert conditioned sensor signals to digital values. Data acquisition applications are usually controlled by software programs developed using various general purpose programming languages such as Assembly, BASIC, C, C++, C#, Fortran, Java, LabVIEW, Lisp, Pascal, etc. Stand-alone data acquisition systems are often called data loggers. There are also open-source sof ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pay Stub
A paycheck, also spelled paycheque, pay check or pay cheque, is traditionally a paper document (a cheque) issued by an employer to pay an employee for services rendered. In recent times, the physical paycheck has been increasingly replaced by electronic direct deposits to the employee's designated bank account or loaded onto a payroll card. Employees may still receive a pay slip to detail the calculations of the final payment amount. A salary statement, commonly called a payslip, pay stub, paystub, pay advice, or sometimes paycheck stub or wage slip, is a document received by an employee that either includes a notice that the direct deposit transaction has gone through or that is attached to the paycheck. Each country has laws as to what must be included on a payslip, but this typically includes details of the gross wages for the pay period and the taxes and any other deductions the employer is required to make by law as well as other personal deductions such as retirement pla ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lockbox (accounts Receivable)
In banking, a lockbox is a service offered to organizations by commercial banks to simplify collection and processing of accounts receivable by having those organizations' customers' payments mailed directly to a location accessible by the bank. General In general, a lockbox is a post-office box (PO box) that is accessible by a bank. A company may set up a lockbox service with its bank for receiving customers' payments. The company's customers send their payments to the PO box. Then the bank collects and processes these payments directly and deposits them to the company's account. Typical costs are several cents per transaction to as high as one dollar or more. There are usually two types of lockbox service available, one whereby the payments (cheques in this instance), their associated remittance advices and any other correspondence, and usually the envelope they were all sent in, are all physically scanned. This is the standard service. The more expensive service provides the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Letter Of Transmittal
Letter, letters, or literature may refer to: Characters typeface * Letter (alphabet), a character representing one or more of the sounds used in speech; any of the symbols of an alphabet. * Letterform, the graphic form of a letter of the alphabet, either as written or in a particular type font. * Rehearsal letter in an orchestral score Communication * Letter (message), a form of written communication ** Mail * Letters, the collected correspondence of a writer or historically significant person ** Maktubat (other), the Arabic word for collected letters ** Pauline epistles, addressed by St. Paul to various communities or congregations, such as "Letters to the Galatians" or "Letters to the Corinthians", and part of the canonical books of the Bible * The letter as a form of second-person literature; see Epistle ** Epistulae (Pliny) ** Epistolary novel, a long-form fiction composed of letters (epistles) * Open letter, a public letter as distinguished from private corresp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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