ITM 410 Chapter Notes - Chapter 11: Remittance, Remittance Advice, Accounts Receivable

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 410
• Professor: Margaret Plaza

Document Summary

Chapter 11 the billing/accounts receivable/cash receipts (b/ar/cr) process. B/ar/cr process: is an interaction structure of people, equipment, activities and controls designed to create information flows and records that accomplish the following: Support the repetitive work routines of the credit department, the cashier, and the account receivable departments. Support the problem solving processes of financial managers. Assist in the preparation of internal and external reports. B/ar/cr process looks at the horizontal view of the relationship between the b/ar/cr process and its organizational environment. Debit card: is a method of payment, where the money is directly collected from the customers bank account. Credit card: is a method of payment, where the stores, get money from the credit card company, and after the credit company bills the customer. Customer self-service systems: is a system which customers can process their own transactions. Mobile person-to-person money transfer: is where the customer is using their mobile devices to pay for the purchases.