CH 11 terms - billing/accounts receivable/cash receipts...

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Unformatted text preview: billing/accounts receivable/cash receipts process- an interacting structure of people, equipment, methods, and controls designed to create information flows and records that support repetitive work routines of the credit department, cashier, and accounts receivable department and assist in the preparation of internal and external reports float- when applied to cash receipts, the time between the customer tendering payment and the availability of good funds good funds- funds on deposit and available for use electronic bill presentment and payment- B2C systems that use a website to post customer bills and to receive their electronic payments credit card- a method of payment whereby a third party (such as bank) for a fee, removes from the collector the risk of noncollection of the account receivable, also known as a charge card debit card- a form of payment that authorizes the collector to transfer funds electronically from the payer's account to the collector's account electronic funds transfer- a variety of procedures for transmitting cash funds between entities via electronic transmission instead of using paper checks automated clearing house- one of the earliest and most prominent methods for EFT in which the collector's bank account is credited and the payer's account is debited for the amount of payment...
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This note was uploaded on 02/12/2012 for the course BT 1003 taught by Professor As during the Spring '11 term at American Jewish University.

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CH 11 terms - billing/accounts receivable/cash receipts...

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