Question: What are the major processes involved in generating and recording a sales transaction? What are the major documents generated during each process?

What are the major processes involved in generating and recording a sales transaction? What are the major documents generated during each process?

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The major processes involved in generating and recording of a sales transaction and related documents include Processes Documents Generated 1 Receipt of customer purchase order or generation of sales order based on customer inquiry 1 Purchase order from customer or sales order 2 Inquiry of current inventory status 2 No document Response is made to inquiry 3 Generation of backorder where applicable and desired by customer 3 Backorder confirmation sent to customer 4 Credit approved for shipment 4 Confirmation number or formal signature to sales person for entry on sales order 5 Shipping and packing instructions and documents prepared 5 Packing slips Inventory picking tickets Shipping instructions 6 Shipping department records goods shipped and send verification back to billing for generation of invoice 6 Bill of lading shipping document given to shipper Packing slip or some similar document used to capture shipping information to send back to billing function 7 Preparation of invoice 7 Invoice 8 Monthly statement sent to clients 8 Monthly statement of open items 9 Payment is received 9 Turnaround document ... View full answer

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