Monday, June 6, 2011     17:19
 

Frequently Asked Question

1. How Does EDI Work?
Electronic Data Interchange (EDI) is when companies use computers to exchange documents with each other. EDI is an alternative to the mailing system and fax machine to exchange information, but EDI is a much faster and a cost-effective way to do this task. EDI costs less then $1 to exchange documents, while the processing of a paper-based order can run a company almost $70 per exchange.

2. What Is Web EDI?
Electronic Data Interchange (EDI) is a structured, fully-automated exchange of business documents between two different computer systems. EDI is used by large companies to integrate and automate routine transactions with their vendors and customers.

3. What Is a Document Scanner?
A document scanner is a fascinating device. Through simply laying an existing, physical document on a flatbed scanner (or passing it under a hand-held scanner), an entire document can be quickly and easily input into a computer, stored as a picture, or even read into a word processing program.

4. How to Create a Manual Invoice?
. An invoice is a business document that requests payment from a client. It needs to have six parts: a header, your contact information, the client's contact information, a list of goods or services and the payment due for each, the total amount due, and payment instructions.

5. How to Write a Simple Invoice?
The hope of reward adds joy to labor. To let the person for whom you have labored know that money is due for work done, you require to send an invoice. Invoices must be accurate yet detailed. They should let the buyer of goods or services know exactly what they are paying for. The invoice must be a brief reproduction of the terms of the contract.

6. In what way to Prepare Commercial Invoices?
A Commercial Invoice is used when goods are shipped overseas. Commercial Invoices are required for export and import. The most significant thing companies need to understand about international business is that shipping goods without good export documents is pointless. International freight is nothing without paperwork. Almost like it doesn't exist. So having the right export documents, of which Commercial Invoices are one, is the important to international business success and good customer service. Fortunately, creating invoices is relatively simple.

7. What Is a Vendor Reconciliation Account in SAP?
A vendor reconciliation account is a balance sheet account found in the general ledger. This account is used to summarize the transactions found on the accounts payable sub-ledger and is also referred to as a control account.

8. What are the Benefits of vendor reconciliation account?
Using a vendor reconciliation account prevents the general ledger from being jumbled with transactions that are irrelevant to other users of the general ledger. This account serves to validate that the balance of the sub-ledger matches what is reported on the general ledger.

9. What is Vendor Master Data?
The vendor master database contains information about the vendors that supply an enterprise. This information is stored in individual vendor master records. A vendor master record contains the vendor’s name and address, as well as data such as:

  • The currency used for ordering from the vendor
  • Terms of payment
  • Names of important contact persons (sales staff)

Subsequently, to the accounts department, vendors are generally creditors (accounts payable); the vendor master record also contains accounting information, such as the relevant control account (reconciliation account) in the general ledger.
Therefore, the vendor master record is maintained by both Accounting and Purchasing.

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