The Revenue Cycle related concepts



REVENUE CYCLE BUSINESS ACTIVITIES:

Four basic business activities are performed in the revenue cycle :

  • -Sales order entry
  • -Shipping
  • -Billing
  • -Cash collection
Definitions

  • Sales order : contains information about item numbers , quantities , prices , and other items of the sale.
  • Back order : a notification to the customer that his order can not be available .
  • Picking ticket : a list contains the items & it's quantities .
  • Packing slip : lists the quantitie & description of each item included in the shipment .
  • Bill of lading : a legal contract that defines responsibility for the goods in transit .
  • a lockbox : a postal address to which customers sends their remittances .
  • EFT (electronic funds transfer) : a way to make customers send their remittances
  • electronically to the company's bank .
  • FEDI (financial electronic data interchange) : an electronic system that solve the
  • additional data transfering in the EFT by integrats it with the EDI .


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