The report that summarizes the cash and credit card sales of a point-of-sale terminal. schedule of accounts receivable A listing of customer accounts, account balances, and total amount due from all customers. batch report

The report that summarizes the cash and credit card sales of a point-of-sale terminal.

schedule of accounts receivable

A listing of customer accounts, account balances, and total amount due from all customers.

batch report

A report of credit card sales produced by a point-of-sale terminal.

batching out

The process of preparing a batch report from a point-of-sale terminal.

cash receipts journal

A special journal used to record only cash receipt transactions.

Customer

A person or business to whom merchandise or services are sold.

Credit Card Sale

A sale in which a credit card is used for the total amount of the sale at the time of the transaction.

Sales Return

Credit allowed a customer for the sales price of returned merchandise, resulting in a decrease in the vendor’s accounts receivable.

Sales Allowance

Credit allowed a customer for part of the sales price of merchandise that is not returned, resulting in a decrease in the vendor’s accounts receivable.

Credit Memorandum

A form prepared by the vendor showing the amount deducted for returns and allowances.

Accounting

Planning, recording, analyzing and interpreting financial information.

Accounting system

A planned process for providing financial information that will be useful to management.

Accounting records

Organized summaries of a business’s financial activities.

Financial statements

Financial reports that summarize the financial condition and operations of a business.

Service business

A business that preforms an activity for a fee.

Proprietorship

A business owned by one person.

Asset

Anything of value that is owned.

Equities

Financial rights to the assets of a business.

Liability

 

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