What is the Auto Invoice? What are the setup Steps for Auto Invoice?

Correct Answer: A Customer Master Record is a permanent record that contains key information about a business partner or a material This information must be entered into the system before any transactions can take place involving the business partner [customer] or a material Entering all the information about a customer or a material into the system before making transactions insures that subsequent transactions or inquiries will have consistent data and reports and analyses can be done in an orderly way Master Records can be edited or changed when necessary Changing master records is frequently called "Maintaining" in SAP

Correct Answer: Selling the rights to the amounts owing by debtors to a finance company for an agreed amount (which is less than the figure at which they are recorded in the accounting books because the finance company needs to be paid for providing the service)

Correct Answer: Credit Management is the process of managing the outstanding receivables of the organistion as per the policies adopted by the organisation Companies might the approach of categorising the B/R by their ageing and provision for the same would be taken into account while preparing the financial statements for an organisation

Correct Answer: You should have recorded in your cash books all amounts you?ve actually received and payments you?ve actually made However, the cash books may be incomplete as your bank may have put extra transactions through your account, such as: bank fees or interest charges direct debits (payments) and direct credits (receipts) Doing a regular bank reconciliation will allow you to: take into account any extra transactions your bank puts through your account, and check and record any errors or omissions By regularly doing a bank reconciliation (say monthly) you can be more confident that your records contain all the information you need to prepare your income tax return and activity statements reconciliation- This is a statement prepared to find the reason for difference in any two balance eg 1)bank reconciliation is prepared to find the reason of difference between the passbook & cash book balance 2)Stock reconciliation is prepared to the reason of difference between the physical balance & book balance or to find the stock balance as on certain date etc

Correct Answer: Debenture holder are those who provides long term loan at specific interest rate in term of cash and creditor provides only short term credit in term of cash for purchasing of goods

Correct Answer: Accountants in big organization there will be a department to maintain AR department

Correct Answer: It is a process of identifying and profiling distinct groups of buyers who differ in their needs and wants.

Correct Answer: Accounts Receivable should be credited

Correct Answer: the purchase of 100 shares of AT&T by a retired business executive

Correct Answer: operating income after taxes minus depreciation