Process Accounts Payable and Accounts Receivable

The activities and events that affect the financial position of a business.

• Business Transactions

• Cash transactions

• Credit transactions

• Mathematics Transactions

Is a form which provides the details of transactions, and it considers as evidence that a transaction has occurred.

• Financial Statements

• Ledger

• Journal

• Source document

Is a record of financial transactions in order by date.

• Financial Statements

• Ledger

• Journal

• Source document

Is the procedure for entering details into the ledger.

• Financial Statements

• Ledger

• Journal

• Posting

Is a ledger containing all of a detailed sub-set of transactions.

• General ledger

• Subsidiary ledger

• Journal

• Posting

Is a report that lists unpaid customer invoices by date ranges.

• Exploratory Analysis

• Predictive Analysis

• Aging analysis

• Causal Analysis

Amounts a company owes because it purchased goods or services on credit from a supplier. 

• Cash

• Account payable

• Supplies

• Account Receivables

Amounts a company has a right to collect because it sold goods or services on credit to a customer. 

• Cash

• Account payable

• Supplies

• Account Receivables

The purpose of the ........................... is to organize and summarize the individual transactions listed in all the journals.

• Transaction

• General Ledger

• Subsidiary Ledger

• Journal