BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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For which of the following transactions can you use noted items? Choose the correct answer
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Down payment request
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Vendor payment
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Late payment
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Customer payment
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Explanation:
Detailed explanation-1: -A Noted item is a item which is only for a notice, suppose u want to collect advance from your customer before selling the goods and u wish to conve this to him, then u will post a Noted Item. that is information to customer to pay amount in advance. The same applies with Vendor also.
Detailed explanation-2: -Down Payments are different from normal documents, they are called “Noted Items” as there is no posting in FI until the actual payment is made.
Detailed explanation-3: -You can process them with the payment program or dunning program. As a result, it is possible to dun outstanding down payments or to make down payments with the payment program. To do this, you enter and store a down payment request .
There is 1 question to complete.