A document sent to a customer at regular price intervals to enable him know his indebtedness to his supplier is known as?
Answer Details
The document that is sent to a customer at regular price intervals to inform them about their outstanding debts to their supplier is known as a "statement."
A statement typically includes a summary of all the invoices that have been issued to the customer over a particular period, along with the amounts that have been paid and any outstanding balances. The purpose of the statement is to provide the customer with a clear picture of their financial position with the supplier, and to facilitate prompt payment of any outstanding amounts.
In contrast, an invoice is a document that is issued by the supplier to the customer at the time of a sale, indicating the products or services provided, along with the price and payment terms. A debit note is a document that is issued by the supplier to the customer to request payment for goods or services that were overcharged or incorrectly invoiced.
A receipt is a document that is issued by the supplier to the customer at the time of payment, acknowledging that the payment has been received. Finally, a consignment note is a document that is used to accompany goods being transported by a carrier, providing information about the contents of the shipment and the parties involved in the transaction.