whether payment was made immediately or on credit determines whether the seller will provide an official receipt or a cash invoice. Receipts represent an exchange of cash at the time of purchase
The printer produces the receipt you give the customer and a copy for the merchant. This is important to keep track of sales and inventory. Credit Reader A credit reader is another way to keep track of the sale when done on a credit card. The customer inserts his credit card into the...
When the person in charge of this fund needs additional money in exchange for the invoice, bills, or receipts, it is documented. Only when the petty cash custodian is issued excess cash or when a substantial sum is deducted or credited to the petty cash is a journal entry generated. How ...
Payment termstell your customers how long they have to pay your invoice. You might require that all invoices are “Due On Receipt,” or you could extend a period of credit to your clients with Net 30, Net 60, Net 90 or even longer payment terms. H...