asset - something of value that you own, cash flow - the movement of money into and out of an orginasation, VAT (value added tax) - a tax on goods and services, it must be charged on each transaction in the channel of distribution , terms of sale - conditions attached to a sale, such as who pays for delivery, what discount is available and when the invoice (bill) has to be payed, quotation - written document that a seller sends to a potential buyer that shows the price of the goods and any terms of sale, bank reference - a letter from the bank confirming that the business is credit worthy, delivery note - lists the items sent by the seller to the buyer, statement of account - a summary of all the transactions between the two firms over a particular period of time, debit note - will increase the amount owed, it's used when there has been and undercharge on an account, cash discount - extra discount may be given if the goods are paid for promptly, trade reference - comes from another supplier that they has previously bought goods on credit from, errors and omissions expected - means that the seller will not be held responsible if an error has been made and it can correct the price if it has made a mistake, letter of enquiry - when a business want to buy from another business, they will write a letter of enquiry asking about goods, prices and terms of sale, CWO (cash with order) - payment must be made when the order is placed for the goods, COD (cash on delivery) - payment must be made when the goods are delivered, payment terms - details of the credit, and payment terms, trade discount - a reduction of the selling price given to business customers. it is subtracted before VAT (value added tax) is added ,

business

by
Print
Embed

Leaderboard

Visual style

Options

Switch template

Continue editing: ?