- Description
- Specifications
The control of debtors is very important for all business, but particularly important for small/medium enterprises because unless debtors are properly controlled, then the business could miss out on a significant amount of revenue owed to the business.
This paper analyses the procedures that are adopted for a sound credit sales/debtors recording policy for an SME.
The paper includes worked examples on how the various forms interrelate with one another. The paper includes commentary on:
- Introduction To Credit Sales
- Tax Invoice
- Treatment Of Tax Invoices
- Credit Sale Process
- Sales Journal
- Delivery Docket
- Debtors’ Ledger
- Adjustment Note
- Receipt Of Cash From A Debtor
- Sundry Debtors Control Account
- Aging Of Debtors’ Transactions
- Sundry Debtors’ Aged Analysis
The paper includes a number of worked Addendums, including:
- Sample of Tax Invoices
- A flow chart explaining the credit sales process
- Headings contained in the Sales Journal
- Examples of a completed Tax Invoice, Sales Journal, Debtors' Ledger, Delivery Docket, Sundry Debtors' Aged Analysis and Sundry Debtors' Reconciliation Report
This paper will be of considerable assistance to all SMEs offering credit to their customers.