FA1 Section - Introduction to sales on credit - Customer account statement
3 important questions on FA1 Section - Introduction to sales on credit - Customer account statement
- What is a statement?
- When are they sent?
Shows all invoices and credit notes sent to the customer during the month and any payments received.
Send after the last day of the month.
Send after the last day of the month.
What is a balance brought down, b/d or balance brought forward, b/f?
The amount they owe at the start of the month.
What is an aged receivables analyses?
Business needs to know on a regular basis which customer owes money and when it is due.
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