Module 10: Sales, invoices, and accounts receivable
Invoicing, collections, credit notes, discounts, and bad debts.
1. Invoicing and accounts receivable
Record invoices, payment terms, and customer balances; understand aging.
About 8 minutes · 3 practice sets · Pro practice
2. Credit notes, returns, and discounts
Record customer returns, allowances, and early-payment discounts using contra-revenue accounts.
About 8 minutes · 3 practice sets · Pro practice
3. Bad debts and the allowance method
Estimate uncollectible receivables, write off specific accounts, and handle recoveries.
About 8 minutes · 3 practice sets · Pro practice
4. Partial payments and allocations
Apply partial payments and lump-sum payments to the right invoices and keep the subledger accurate.
About 8 minutes · 3 practice sets · Pro practice