TA3 W.11 Professional Relationships

Why are relationships important in accounting?

• To avoid financial losses

• To deal with customers and suppliers effectively

• To increase company profits

Who does the accounting department interact with?

• Customers and suppliers

• Only employees

• Government officials

What does a purchase ledger clerk do?

• Managing company investments

• Preparing reports and handling invoices

• Handling customer complaints

What should a clerk do if a supplier calls?

• Be polite and explain the delay

• Ignore the call

• Tell them to call later

Why is it important to satisfy a creditor?

• To delay future payments

• To avoid paying invoices

• To maintain a good working relationship

What is the best way to satisfy a creditor?

• Pay the invoice promptly

• Argue with the supplier

• Delay payment as long as possible

What should you do if payment is delayed?

• Say nothing and wait

• Assure the supplier you will speed it up

• Tell them to contact someone else

Why are internal relationships important?

• They help process salaries and payments on time

• They make the office more fun

• They reduce the need for accounting software

Who does a payroll clerk work with?

• Department managers

• Customers

• Suppliers

What does a payroll clerk do?

• Manages employee schedules

• Approves all company expenses

• Processes salaries and commissions