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wrexshop
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Customer Relationship Management System (CRM)
System that contains customer-related data organized in a manner to facilitate customer service, sales, and retention
Open-Invoice Method
Method for maintaining accounts receivable that generates payments for each individual sales transaction
Credit Memo
Document used to authorize reducing the balance in a customer account
Credit Limit
Maximum possible account balance for a customer
Financial Electronic Data Interchange (FEDI)
System that integrates EFT and EDI information
Cycle Biling
Process of dividing customer accounts master file into subsets and preparing invoices for one subset at a time
Remittance Advice
Turnaround document returned by customers with payments
Lockbox
Post office box to which customers send payments
Back Order
Document used to indicate stock outs exist
Picking Ticket
Document that authorizes removal of merchandise from inventory
Bill of Lading
Document used to establish responsibility for shipping goods via third party
Electronic Funds Transfer (EFT)
Transfering funds through use of online banking software
Electronic Data Interchange (EDI)
The use of computerized communications and a standard coding scheme to submit business documents electronically in a format that can be automatically processed by the recipient's information system