Cash Controls
What is cash controls?
monitor the process of receiving and distributing cash
what is account receivables?
it is as a current asset on a company balance sheet.
what is cost goods sold
Is the cost of the merchandise which was sold to the customers
How many steps are in bank reconciliation process?
Its has four steps
what is the customer file used for?
it used to track all invoices and incoming payments from customers.
what is the effect of bank reconciliation items?
add to your balance or subtracted from your balances
what type of statement is cash flow?
it's a financial statement.
what are cash equivalents?
They are assets which can be turned into cash in a short period of time.
what is the sale orders.
is a documents which confirms a purchase of sales of goods and services for the customer.
How many people do you need to complete a cash control transaction.
two people
when does a sales return occurs?
when a merchandise is sent back by a buyer to the seller/producer.