Mind Map on Flow of finacal documents

  • Created by: 13Iless
  • Created on: 26-02-18 10:02
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  • Flow of finical documents
    • Purchase order
      • States what the firm intends to buy, it list the quantity and agreed price
      • Delivery Note
        • Flow of finical documents
          • Purchase order
            • States what the firm intends to buy, it list the quantity and agreed price
            • Delivery Note
              • When the goods are sent to the customer this lists what has been sent
              • Goods Received Note
                • Stays in the business, this is used for stock taking and to keep track of what needs paying.
                • Invoice
                  • This is the bill. Suppliers usually give 30-60 days to pay
                  • Credit Note
                    • If the supplier agrees that the order and invoice are wrong they will issue a credit note, to show they will refund the customer
                    • Statement
                      • This is sent every month. It records all the invoices issues and all payments received. It shows both companies if there are any unpaid bills
                      • Remittance Advice and Cheque
                        • This tells the supplier which invoice is being paid and is sent with the payment (usually cheque)
                        • Receipt
                          • Sent to show payment has been recived
        • When the goods are sent to the customer this lists what has been sent
        • Goods Received Note
          • Stays in the business, this is used for stock taking and to keep track of what needs paying.
          • Invoice
            • This is the bill. Suppliers usually give 30-60 days to pay
            • Credit Note
              • If the supplier agrees that the order and invoice are wrong they will issue a credit note, to show they will refund the customer
              • Statement
                • This is sent every month. It records all the invoices issues and all payments received. It shows both companies if there are any unpaid bills
                • Remittance Advice and Cheque
                  • This tells the supplier which invoice is being paid and is sent with the payment (usually cheque)
                  • Receipt
                    • Sent to show payment has been recived

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