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Cashflows insufficient. The term "Cash Conversion Cycle" refers to the timespan between a firm's disbursing and collecting cash. However, the CCC cannot be directly observed in cashflows, because these are also influenced by investment and financing activities; it must be derived from Statement of Financial Position data associated with the firm's operations.
Sample dunning record, from a 1913 business manual. Dunning is the process of methodically communicating with customers to ensure the collection of accounts receivable . Communications progress from gentle reminders to threatening letters and phone calls and more or less intimidating location visits as accounts become more overdue .
Accounts receivable represents money owed by entities to the firm on the sale of products or services on credit. In most business entities, accounts receivable is typically executed by generating an invoice and either mailing or electronically delivering it to the customer, who, in turn, must pay it within an established timeframe, called credit terms [citation needed] or payment terms.
The general ledger should include the date, description and balance or total amount for each account. Because each bookkeeping entry debits one account and credits another account in an equal amount, the double-entry bookkeeping system helps ensure that the general ledger is always in balance, thus maintaining the accounting equation:
In an automatic process, once the data is extracted or captured from the invoice the data is sent into the system for automatic matching against the purchase order. This matching process can compare just the invoice data with that shown on the purchase order or be expanded to include a deeper level that looks at the receiving documents.
Process flowsheeting is the use of computer aids to perform steady-state heat and mass balancing, sizing and costing calculations for a chemical process. It is an essential and core component of process design. The process design effort may be split into three basic steps Synthesis; Analysis and; Optimization.
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