Scribd Logo
Upload

Welcome to Scribd!

  • Payment Recocilliation

    Uploaded by

    Sanket Patel
    12 views1 page
    This document outlines a proposed payment reconciliation process for sales invoices raised by VKVC to clients. It involves 7 steps: 1) Receiving a purchase order and sending it to works and accounts, 2) Creating a sales invoice and documents and sending to accounts, 3) Sending the sales invoice to the client and updating debtors lists, 4) Analyzing the purchase order to find the due amount, 5) The client releasing payment and confirming it with the bank against the invoice, 6) Comparing the received amount to the due amount and updating debtors lists, and 7) Following up for outstanding payments and coordinating with accounts. The objective is to establish a system to reconcile payments received against sales invoices issued.

    Original Description:

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    This document outlines a proposed payment reconciliation process for sales invoices raised by VKVC to clients. It involves 7 steps: 1) Receiving a purchase order and sending it to works and accounts, 2) Creating a sales invoice and documents and sending to accounts, 3) Sending the sales invoice to the client and updating debtors lists, 4) Analyzing the purchase order to find the due amount, 5) The client releasing payment and confirming it with the bank against the invoice, 6) Comparing the received amount to the due amount and updating debtors lists, and 7) Following up for outstanding payments and coordinating with accounts. The objective is to establish a system to reconcile payments received against sales invoices issued.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    12 views1 page

    Payment Recocilliation

    Uploaded by

    Sanket Patel
    This document outlines a proposed payment reconciliation process for sales invoices raised by VKVC to clients. It involves 7 steps: 1) Receiving a purchase order and sending it to works and accounts, 2) Creating a sales invoice and documents and sending to accounts, 3) Sending the sales invoice to the client and updating debtors lists, 4) Analyzing the purchase order to find the due amount, 5) The client releasing payment and confirming it with the bank against the invoice, 6) Comparing the received amount to the due amount and updating debtors lists, and 7) Following up for outstanding payments and coordinating with accounts. The objective is to establish a system to reconcile payments received against sales invoices issued.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 1

    VKVC: SALES FUNCTION

    OBJECTIVE: Payment reconciliation for sales invoices raised by VKVC.

    INTRODUCTION: This is proposed procedure to establish a system for reconciliation of payment received against sales invoices raised by VKVC to clients.

    VKVC SALES PROCESS

    1. SALES Receipt of P.O at Head Office.


    Send to Works and Accounts

    2.WORKS Make sales invoice against order. Other sales documents.


    Send to Accounts


    Send to Collection

    3.ACCOUNTS Sending SALES INVOICE to the Client. Attach/Mail Format No. VKV SF 3. Update debtors list.
    Accounts

    4.ACCOUNTS Analyze P.O to find DUE AMOUNT. Generate details as per Format No. VKV SF 4.


    Accounts

    5.ACCOUNTS Payment released by client. Confirm with bank & against invoice.


    Send to Collection

    6.ACCOUNTS Compare received amount with Step 4. Find dues if any & update debtor list.

    7.COLLECTION Follow up for outstanding payment. Coordinate with accounts.

    Prepared By Sanket (Acc.)

    Format No. VKVC SF 1

    Rev / Date 0/05.09.2011

    ApprovedBy

    You might also like