Mastering Sales, Credit, and Collections: A Business Overview
Classified in Economy
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English with a size of 3.07 KB.
Current Account Card (Vendor)
This tab tracks credit purchases, increasing vendor debt, and payments, decreasing it. It shows the outstanding balance. All vendor accounts are compiled in a set of cards.
Basic Sales Operations
These operations aim to place products on the market, including:
Determine Selling Price
Find Buyers
Establish Credit Lines
Execute Transactions
Deliver Goods
Identifying Potential Buyers
Searching for Information
Organize a list of purchase orders and property requests from potential customers.
Result
Knowledge of potential buyers.
Verifying Goods Availability
Searching for Information
Check stock records. If stock is insufficient, request the purchase of missing property.
Result
Confirmation of stock for prospective buyers.
Managing Credit
Searching for Information
Check each customer's credit limit to determine sales feasibility.
Result
Ability to fulfill requests within established credit limits.
Processing Sales Requests
Searching for Information
Verify sales approval documentation, including the packing slip.
Note the departure of goods from stock.
Current Account Tab (Customer)
This tab records credit sales, increasing the amount receivable from the client, and collection operations, decreasing it. It shows the outstanding balance. All records form the file.
Pricing
The company produces price lists with sales conditions. The appropriate price list is selected at check-in.
Sales and Purchase Summary
The buyer issues a purchase order, and the seller issues an Invoice, Debit Note, Credit Note, or Account Summary.
Financial Movements
These reflect the inflow and outflow of money and securities (documents representing money).
Collection and Payment Documentation
The seller provides a delivery receipt, and the buyer signs a promissory note, makes a payment, or uses a post-dated check.
Basic Collection Operations
This involves receiving amounts owed by customers, including:
Debt Claim
Receipt of Money or Securities
Record Collection
Track Collection
Determining Amounts Due
Searching for Information
Review a list of invoices receivable.
Result
Prepare a list of customers due for payment this month.
Identifying Debtors
Searching for Information
Review a list of debtors with their balances and payment due dates.
Result
Identify collectible, delinquent, and potentially bad debtors.
Customer Classification
Collectible
Those whose due date has not yet been reached.
Delinquent
Those who are late in paying relative to the due date.
Bad
Those who have not paid their debt, and recovery is deemed unlikely.