ACC200 Ch3 Set 2 Flashcards Preview

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Flashcards in ACC200 Ch3 Set 2 Deck (20):
1

Customer relationship management (CRM)

special software packages, to support the customer enquiry process

2

Shipping process consists of two steps

1. picking & packing an order

2. shipping an order

3

Level 1 data flow diagram: Shipping

Fig7.10 pg116

4

Pick & pack an order

removing correct items from inventory & packaging them for delivery

5

Radio-frequency identification (RFID) tags

improve the efficiency & accuracy of tracking inventory movement

6

Ship the order

after merchandise has been removed from a warehouse, it is shipped to a customer

7

Example of a packing slip

Fig7.11 pg117

8

Sample bill of lading 

Fig7.12 pg118

9

Billing has two steps

1. Invoicing 

2. Maintain (update) accounts receivable

10

Invoicing

Data processing activity that repackages & summarises data from sales order entry & shipping activities

11

Sales invoice

notifies a customer of the amount to be paid & where to send payment

12

Electronic data interchange

a method for transferring data between different computer systems or computer networks. - commonly used by big companies for e-commerce purposes; e.g. Sending orders to warehouses or tracking their order

13

Level 1 data flow diagram: billing process

fig7.13 pg119

14

Example of sales invoice

fig7.14 pg120

15

Accounts receivable performs two basic tasks

1) it uses data in sales invites to debit customer accounts 2) subsequently credits those accounts when payments are received

16

Open invoice method

customers typically pay according to each invoice as an invoice is sent with each shipment of goods

17

Remittance advice

usually, two copies of an invoice are mailed to a customer, who is requested to return one copy with a payment

18

Balance-forward method

customers typically pay according to accounts shown in monthly statements, rather than by individual invoices

19

Monthly statement

lists all transactions, including both sales & payments that occurred during the last month & informs a customer of its current account balance & when that balance has to be paid by (terms)

20

Example of a monthly statement

fig7.15 pg121