1. Shipping Log
2. General Statement of Credit
3. Allowance for Doubtful Accounts
4. Bad Debts
6. Remote Deposit Capture
7. Blanket Purchase Order
8. Capitalization Limit
9. Purchase Requisition
10. Procurement Card
11. Procurement Card Reconciliation
A. A mailbox operated by a bank, to which the customers of the company send their payments. The bank deposits all payments received into the company's bank account, and posts scanned images of all payments on a secure website, which the company can access.
B. A credit card used to acquire goods and services for a business. The business is typically directly obligated to pay any liabilities incurred with a procurement card.
C. The amount paid for an asset, above which a company records it as a fixed asset. If the amount is less than that amount it would be changed to an expense in the period incurred.
D. A periodic letter sent to customers informing them of a credit balance on their account.
E. The use of a scanning device at the company to create a legal, scanned image of both sides of a check, which is then uploaded to the bank as a valid deposit. The check used for the scan is not deposited.
F. Invoices not paid by customers.
G. A form completed by someone requisitioning goods or services. The purchasing department uses this form as the basis for its purchasing activities. This is not a legal document.
H. A purchase order that covers a number of deliveries over multiple time periods. It is typically used for recurring purchases.
I. A reverse account that offsets the total amount of accounts receivable outstanding in the general ledger. The allowance represents management's best estimate of the amount of A/R that will not be paid by customers.
J. The review of variances between the monthly statement issued by a credit card provider and the receipts associated with the procurement card linked to that statement.
K. This is a document that is either manually maintained by the shipping department or automatically in a computer system, as shipping documents are created. The log lists the date and time of each shipment, as well as the method of transportation and the name of the customer. It may also contain a link to a reference document, such as a customer number.
Answers: 1(K) 2(D) 3(I) 4(F) 5(A) 6(E) 7(H) 8(C) 9(G) 10(B) 11(J)