Basics of Payment and Shipping Terms

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Questions and Answers

What is the primary purpose of an e-invoice in financial systems?

To facilitate electronic billing and record-keeping (correct)

To manage stock inventory levels

To establish payment terms and schedules

To calculate tax liabilities for transactions

Which payment type involves receiving partial payment in cash and the remainder in installments?

Installments (correct)

Cash

Single Payment

Term based

What does the Delivery Type indicate in a sales or purchasing process?

The quality assurance measures for delivered goods

The manner of sharing costs and risks during transportation (correct)

The time frame for payment completion

The method of payment for the goods

What is a Payment Term in the context of financial systems?

A predefined period after which payment must be made Signup and view all the answers

Which of the following correctly defines the Payment Plan in financial systems?

The method and timeframe for repaying borrowed funds Signup and view all the answers

What does Ex Works (EXW) refer to in delivery types?

Delivery in a commercial enterprise Signup and view all the answers

Which payment method involves paying for goods before they are shipped?

Advance Payment Signup and view all the answers

In which delivery type is the cost, insurance, and freight included?

Cost, Insurance And Freight (CIF) Signup and view all the answers

What is the main characteristic of Payment Against Goods?

Payment is made after receipt of the goods. Signup and view all the answers

Which of the following payment methods passes the greatest risk to the exporter?

Payment Against Goods Signup and view all the answers

What does Delivered Duty Paid (DDP) imply?

All taxes related to delivery have been paid. Signup and view all the answers

Which payment method involves sending shipping documents via a bank for payment?

Documents Against Payment Signup and view all the answers

What is the key feature of Free On Board (FOB)?

Delivery happens when goods are loaded onto the ship. Signup and view all the answers

What is the primary function of a Letter of Credit in trade transactions?

It guarantees payment to the exporter under specified conditions. Signup and view all the answers

Which of the following is NOT a type of shipping method defined in the ERP payment system?

Aviation Signup and view all the answers

What defines a taxpayer's eligibility to send or receive e-Invoices?

Having e-Invoice user status. Signup and view all the answers

What method allows a firm to send e-Invoices directly to GİB without using integrators?

Direct Integration Method Signup and view all the answers

Which section of the ERP system contains information about sales representatives?

Seller Code Signup and view all the answers

How is the status of an e-Invoice checked within the ERP system?

On the status inquiry screen. Signup and view all the answers

What happens when an e-Invoice is entered into the system and the sender is an e-Invoice user?

It is automatically marked as an e-invoice. Signup and view all the answers

Which of the following is a method for sending e-Invoices that requires an approved integrator system?

Special Integration Method Signup and view all the answers

What is the purpose of the e-Archive application?

To electronically organize and submit invoices that are usually kept in paper format Signup and view all the answers

Which of the following correctly describes e-Ledger requirements?

It mandates the keeping of day-books and ledgers according to VUK or TTK. Signup and view all the answers

What happens if a company that is invoiced is not an e-invoice user?

An e-archive invoice cannot be issued. Signup and view all the answers

What is one of the key features of the system regarding invoice creation?

Invoices are automatically registered after being made compatible with system codes. Signup and view all the answers

Which document types can be included in the e-ledger system?

Invoices, Receipts, Letters of Guarantee, and Bank statements Signup and view all the answers

How are accounting slips created in the e-ledger system?

Entered from modules or directly from the accounting screen Signup and view all the answers

What is no longer required when using e-Archive invoices?

Printing and storing invoices in paper format Signup and view all the answers

Which of the following statements is true regarding the sending of e-archive invoices?

They must be submitted to GİB through the sending screen of the ERP system. Signup and view all the answers

Study Notes

Basic Concepts

Payment Term: The period of time allowed by a contract or law for a borrower to make a payment after a certain date.
Payment Plan: A defined schedule of how a borrower will fulfill payment that can include cash, single payment, installments, or term-based payments.
Delivery Type: Specifies the delivery method, cost, and risk sharing between the seller and buyer during goods transportation.
Payment Method: Forms of payment agreed upon in sales or purchasing processes, which are important in Foreign Trade.
Seller Code: A section where sales representatives of companies are defined, enabling easy analysis and automation.
Shipping Type: The type of transportation used for shipment, including highway, seaway, airline, and railway.
Shipper Description: A section where shippers who make the shipment are defined.

e-Invoice

e-Invoice is a messaging infrastructure that enables the transmission of predefined user invoices in UBL-TR standard and electronic documents through specific protocols.
Three ways to send e-Invoices: Through the GİB (General Directorate of Revenue Administration) portal, special integration method with approved integrators, and direct integration method.
For companies using an ERP system with e-Invoice capability, the system automatically identifies e-Invoice users and updates current account cards with their taxpayer information.
When sending e-Invoices, the system automatically marks the invoice as such, allowing for tracking and management.
Purchasing invoices from suppliers are accepted and registered, generating automatic accounting and finance records.

e-Archive

e-Archive is an application allowing invoices that were previously required to be kept in paper format to be stored electronically.
Companies using e-Invoices are required to send invoice information electronically to GİB. However, if the company is not an e-Invoice user, an e-Archive invoice is used instead.
The paper environment is no longer required for storing invoices, and the invoices are sent to the Revenue Administration and the customer via email.
Invoices created in the system can be sent to GİB as e-Archives from the sending screen.

e-Ledger

e-Ledger is a requirement for keeping day-books and ledgers electronically, according to the General Regulation of the electronic ledger.
Accounting slips are created in the system and entered into the accounting screen.
Accounting receipts to be sent as e-ledgers require specific definitions such as document type and payment method, which are integrated into the system to automate the process.

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Description

This quiz covers fundamental concepts related to payment terms, plans, and delivery types in the context of sales and foreign trade. You'll also learn about e-invoices and the methods and codes used in shipping and payment processing. Test your knowledge and understand the essentials for effective trade transactions.