A cash buyer is a customer who pays for goods or services by submitting cash, a check, or a money order with the order they make. Unlike credit transactions, the payment is made upfront.
A credit order is a transaction where goods or services are provided without immediate payment, rather, billing occurs at a subsequent time. This is a standard practice in many business transactions.
An open account is a type of credit agreement between a buyer and a seller where the seller provides goods or services to the buyer with the expectation of receiving payment at a later date. It is also referred to as an unpaid credit order or open credit.
A status indicating whether and how an order was paid. Status types include cash order, paid credit order, credit card order, claims-paid complaint, unpaid credit order, and complimentary subscription.
