Final answer:
When entering invoices, you need to create and maintain various types of data such as supplier/vendor information, product/service details, invoice numbers/dates, payment terms, and payment history.
Step-by-step explanation:
When entering invoices, you need to create and maintain various types of data. Important data includes:
- Supplier or vendor information: This includes details such as their name, address, contact information, and any specific terms or conditions related to the invoice.
- Product or service details: You need to specify the items or services being invoiced, their quantities, unit prices, and any applicable taxes or discounts.
- Invoice numbers and dates: Each invoice should have a unique number and a date to help with tracking and record-keeping.
- Payment terms: This includes information about when the payment is due and any additional charges for late payment.
- Payment history: It's important to maintain a record of payments made against each invoice, including the date, amount, and method of payment.
By accurately creating and maintaining these types of data, you can efficiently manage your invoices and ensure smooth financial transactions.