NEGATIVE CONFIRMATION REQUEST, in accounting, in the negative form of accounts receivable confirmation asks the client's customer to respond only if the customer disagrees with the balance determined by the client. The positive form asks the customer to respond whether the customer agrees or disagrees with the client's receivable balance. The negative form is used when controls over receivables are strong and accounts receivable consists of many accounts with small balances. The positive form is used when controls are weak or there are fewer, but larger, accounts. See Positive Confirmation.
ONLINE is access to a computer for immediate processing without having to wait for a batch of transactions to be processed at a later time.
IMPREST BASIS, in cash accounts, means that the exact amount of fund expenditures is replaced periodically.
Enter a term, then click the entry you would like to view.