Order processing financial definition of order processing
Also found in: Acronyms
order processing the procedure followed by a firm from receipt of a customer order to despatch or delivery and invoicing of the goods or services concerned. This procedure usually involves vetting the customer's credit limit and authorization of the customer's order; recording orders and sending copy orders to appropriate personnel, for example stores, despatch and accounts; and finally advising customers and sales personnel of delivery dates. See DELIVERY NOTE, INVOICE, WAREHOUSING, PICK LIST.