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Discuss some benefits of online interaction.
Credit Memo
A paper provided by the seller to the buyer that decreases the amount the buyer must pay to the seller, as per a previously issued invoice.
Note Receivable
A written promise for the payment of a specified amount of money, by a debtor to the lender, with interest, at a future date.
Journalize
The process of recording financial transactions in a journal, which is the first step in the accounting cycle.
Bank Reconciliation
The process of matching and comparing figures from the accounting records against those shown on a bank statement to ensure they are in agreement and correct.
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