Data Collection Process Quiz

A mail room employee opens envelopes containing customers’ payments and remittance ______.

Remittance ______ contain information needed to service individual customer accounts.

The remittance advice is a form of a turnaround ______.

Errors are avoided and operational efficiency is greatly improved when using remittance ______.

Mail room personnel route the checks and remittance advices to an administrative clerk who endorses the check “for deposits ______.”

The clerk then records each check on a form called a remittance ______ where all cash received is logged.

In case where the clerk prepares three copies of remittance list, the original copy is sent with the checks to the record and deposit check ______.

The second copy of the remittance list goes to remittance ______ to update the AR function.

The third copy of the remittance list goes to ______ task.

Its important is most apparent in firms that process large volumes of cash receipts ______.