Difference between revisions of "Selling"
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| + | <div style="text-align: center;"> | ||
| + | [[Sales]] | [[Purchase]] | [[Inventory]] | [[Maintenance]] | ||
| + | </div> | ||
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| + | |||
The selling process is also sometimes called customer order management (COM) or Order to Cash (OTC) that starts with a sales quotation to settlement of the account by the customer. | The selling process is also sometimes called customer order management (COM) or Order to Cash (OTC) that starts with a sales quotation to settlement of the account by the customer. | ||
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====Setup==== | ====Setup==== | ||
| − | |||
| − | #Company | + | * Before any selling transaction can be made, you would need to setup the following [[Maintenance]] tables: |
| + | |||
| + | #[[Company]] | ||
#[[Account Class]] | #[[Account Class]] | ||
| − | #Chart of Account | + | #[[Chart of Account]] |
#[[Account Codes]] | #[[Account Codes]] | ||
| − | #Currency | + | #[[Currency]] |
| − | #Exchange Rate | + | #[[Exchange Rate]] |
| − | #Tax | + | #[[Tax]] |
| − | #Item Class | + | #[[Item Class]] |
| − | #Item Type | + | #[[Item Type]] |
| − | #Item Master | + | #[[Item Master]] |
| − | #Unit of Measure | + | #[[Unit of Measure]] |
| − | #Price List | + | #[[Price List]] |
| − | #Customer | + | #[[Customer]] |
| − | #Terms | + | #[[Terms]] |
| − | # | + | #[[Warehouse]] |
| − | ==== Customer ==== | + | * Items created must be replenished according to the user's preferences using [[Inventory Adjustment]] or [[Stock Transfer]] module depending if the user has another warehouse to supply the items. |
| + | |||
| + | ====Customer==== | ||
======Sales Quotation====== | ======Sales Quotation====== | ||
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No accounting entries or inventory updates are made upon creation of a sales quotation | No accounting entries or inventory updates are made upon creation of a sales quotation | ||
| − | Refer to this document on how to create a [[Sales Quotation]] | + | Refer to this document on how to create a [[Sales Quotation Aids|Sales Quotation]] |
<br /> | <br /> | ||
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No accounting entries are made upon creation of a sales order. Inventory of items in the sales order is allocated upon creation. | No accounting entries are made upon creation of a sales order. Inventory of items in the sales order is allocated upon creation. | ||
| − | Refer to this document on how to create a [[Sales Order]]<br /> | + | Refer to this document on how to create a [[Sales Order Aids|Sales Order]]<br /> |
======Delivery Receipt====== | ======Delivery Receipt====== | ||
Delivery receipts are documents created to be used as a proof of delivery that is usually signed by the customer as proof of delivery and receipt of the items based on the customer sales order. | Delivery receipts are documents created to be used as a proof of delivery that is usually signed by the customer as proof of delivery and receipt of the items based on the customer sales order. | ||
| Line 49: | Line 57: | ||
An accounting entry is made upon creation of a delivery receipt to record the [[average cost]] of the items in the delivery receipt at the time of the transaction. | An accounting entry is made upon creation of a delivery receipt to record the [[average cost]] of the items in the delivery receipt at the time of the transaction. | ||
| − | Inventory is moved from allocated to delivered to update an inventory movement once the Delivery receipt is tagged as delivered. | + | Inventory is moved from allocated to delivered to update an inventory movement once the Delivery receipt is tagged as delivered.<br />Refer to this document on how to create a [[Delivery Receipt Aids|Delivery Receipt]] |
| − | <br />Refer to this document on how to create a [[Delivery Receipt]] | ||
======Sales Invoice====== | ======Sales Invoice====== | ||
Sales invoices are created to record a business transaction. A sales invoice cannot be created without a delivery receipt that has been tagged as delivered. Only one delivery receipt can be tagged to a sales invoice. | Sales invoices are created to record a business transaction. A sales invoice cannot be created without a delivery receipt that has been tagged as delivered. Only one delivery receipt can be tagged to a sales invoice. | ||
| − | Once the invoice is saved, Oojeema automatically creates an Accounts | + | Once the invoice is saved, Oojeema automatically creates an [[Accounts Receivable]] voucher for the sales invoice. |
| − | Accounting entries are made to record cost of goods sold based on the average cost of the items per [[item | + | Accounting entries are made to record cost of goods sold based on the average cost of the items per [[Item Class|item Class]] as well as the entries assigned to the item during setup. (See [[Item Class|Item Class]] - Accounting details or [[Item Master|Item Master]] - Accounting details) |
======Accounts Receivable====== | ======Accounts Receivable====== | ||
| − | Accounts | + | [[Accounts Receivable]] vouchers are documents created to record payment dues from the customer based in invoices generated. <blockquote>Accounts Receivable vouchers (ARV) that is automatically generated via sales invoices can only be edit through its [[Sales Invoice]]</blockquote> |
======Receipt Voucher====== | ======Receipt Voucher====== | ||
| + | [[Receipt Voucher|Receipt Vouchers]] are documents created upon receiving payment in cash or check during a business transaction. | ||
| + | |||
| + | Refer to this document on how to issue a payment using [[Receipt Voucher Aids|Receipt Voucher]] | ||
======Sales Return====== | ======Sales Return====== | ||
| + | [[Sales Return]] occur when customers return defective, damaged, or otherwise undesirable products to the seller. | ||
| + | Refer to this document on how to perform a [[Sales Return]].<br /> | ||
======Credit Memo====== | ======Credit Memo====== | ||
| + | A [[Credit Memo]] is a contraction of the term "'''Credit Memorandum'''," which is a document issued by the seller of goods or services to the buyer, reducing the amount that the buyer owes to the seller under the terms of an earlier invoice. | ||
| + | |||
| + | Refer to this document on how to create a [[Credit Memo Aids]] | ||
======Down Payments====== | ======Down Payments====== | ||
| + | A down payment is a type of payment, often in cash, made in the early stages of a purchase of an expensive good or service. The payment represents a percentage of the full purchase price. | ||
======Advances from Customers====== | ======Advances from Customers====== | ||
| + | Advance from customer is a liability account, in which is stored all payments from customers for goods or services that have not yet been delivered. Once the related goods or services have been delivered, the amount in this account is shifted to a revenue account. | ||
| + | |||
| + | Creating Advances from Customers can be done through [[Receipt Voucher Aids|Receipt Voucher]] which will generate a [[Credit Voucher]] | ||
| + | {| class="wikitable" | ||
| + | |+Categories: | ||
| + | ! colspan="2" |'''Modules''' | ||
| + | |- | ||
| + | |Sales | ||
| + | |[[Sales]]<nowiki> | </nowiki>[[Sales Order]] <nowiki>| </nowiki>[[Delivery Receipt]]<nowiki> | </nowiki>[[Sales Invoice]] | ||
| + | |- | ||
| + | |Financial | ||
| + | |[[Accounts Receivable]]<nowiki> | </nowiki>[[Credit Memo]]<nowiki> | </nowiki>[[Credit Voucher]]<nowiki> | </nowiki>[[Receipt Voucher]] | ||
| + | |- | ||
| + | |Inventory | ||
| + | |[[Inventory Adjustment]]<nowiki> | </nowiki>[[Sales Return]]<nowiki> | </nowiki>[[Stock Transfer]] | ||
| + | |- | ||
| + | |Maintenance | ||
| + | |[[Account Class]]<nowiki> | </nowiki>[[Account Codes]]<nowiki> | </nowiki>[[Chart of Account]]<nowiki> | </nowiki>[[Currency]]<nowiki> | </nowiki>[[Customer]]<nowiki> | </nowiki>[[Exchange Rate]]<nowiki> | </nowiki>[[Item Class]]<nowiki> | </nowiki>[[Item Master]]<nowiki> | </nowiki>[[Item Type]]<nowiki> | </nowiki>[[Price List]]<nowiki> | </nowiki>[[Tax]]<nowiki> | </nowiki>[[Terms]]<nowiki> | </nowiki>[[Unit of Measure]]<nowiki> | </nowiki>[[Warehouse]] | ||
| + | |- | ||
| + | | colspan="2" style="vertical-align:middle;text-align:center;" |'''Job Aid Modules''' | ||
| + | |- | ||
| + | |Sales Aids | ||
| + | |[[Sales Order Aids]]<nowiki> | </nowiki>[[Delivery Receipt Aids]]<nowiki> | </nowiki>[[Sales Invoice Aids]] | ||
| + | |- | ||
| + | |Financial Aids | ||
| + | |[[Accounts Receivable Aids]]<nowiki> | </nowiki>[[Credit Memo Aids]]<nowiki> | </nowiki>[[Credit Voucher Aids]]<nowiki> | </nowiki>[[Receipt Voucher Aids]] | ||
| + | |- | ||
| + | |Inventory | ||
| + | |[[Inventory Adjustment Aids]]<nowiki> | </nowiki>[[Sales Return Aids]]<nowiki> | </nowiki>[[Stock Transfer Aids]] | ||
| + | |- | ||
| + | |Maintenance Aids | ||
| + | |[[Account Codes Aids]]<nowiki> | </nowiki>[[Chart of Accounts Aids]]<nowiki> | </nowiki>[[Currency Aids]]<nowiki> | </nowiki>[[Customer Aids]]<nowiki> | </nowiki>[[Exchange Rate Aids]]<nowiki> | </nowiki>[[Item Class Aids]]<nowiki> | </nowiki>[[Item Master Aids]]<nowiki> | </nowiki>[[Item Type Aids]]<nowiki> | </nowiki>[[Price List Aids]]<nowiki> | </nowiki>[[Tax Aids]]<nowiki> | </nowiki>[[Terms Aids]]<nowiki> | </nowiki>[[Unit of Measure Aids]]<nowiki> | </nowiki>[[Warehouse Aids]] | ||
| + | |}<div style="text-align: center;"></div> | ||
Latest revision as of 12:46, 1 February 2021
Sales | Purchase | Inventory | Maintenance
The selling process is also sometimes called customer order management (COM) or Order to Cash (OTC) that starts with a sales quotation to settlement of the account by the customer.
Except for Sales Quotation, Oojeema tightly links the order to cash modules which keeps transactions easily traceable with each other until settlement of customer transactions.
Contents
Setup
- Before any selling transaction can be made, you would need to setup the following Maintenance tables:
- Company
- Account Class
- Chart of Account
- Account Codes
- Currency
- Exchange Rate
- Tax
- Item Class
- Item Type
- Item Master
- Unit of Measure
- Price List
- Customer
- Terms
- Warehouse
- Items created must be replenished according to the user's preferences using Inventory Adjustment or Stock Transfer module depending if the user has another warehouse to supply the items.
Customer
Sales Quotation
Sales quotations are created to document quotes to customers and document what arrangements was committed to a customer prior to a sales order. It can also be used to quote on estimates as details in the sales quotation can still be changed once this is converted into a sales order.
No accounting entries or inventory updates are made upon creation of a sales quotation
Refer to this document on how to create a Sales Quotation
Sales Order
Sales orders are documents created by the seller or vendor upon receipt of a purchase order from the customer. This document details the price, details of the items, discounts, tax arrangement as well as which warehouse the seller is getting the items from.
Once the sales order is created inventoried items are then allocated for the customer.
No accounting entries are made upon creation of a sales order. Inventory of items in the sales order is allocated upon creation.
Refer to this document on how to create a Sales Order
Delivery Receipt
Delivery receipts are documents created to be used as a proof of delivery that is usually signed by the customer as proof of delivery and receipt of the items based on the customer sales order.
A delivery receipt may include all or some of the items listed in the customer sales order. This means, the seller or vendor may do partial deliveries of the ordered items
An accounting entry is made upon creation of a delivery receipt to record the average cost of the items in the delivery receipt at the time of the transaction.
Inventory is moved from allocated to delivered to update an inventory movement once the Delivery receipt is tagged as delivered.
Refer to this document on how to create a Delivery Receipt
Sales Invoice
Sales invoices are created to record a business transaction. A sales invoice cannot be created without a delivery receipt that has been tagged as delivered. Only one delivery receipt can be tagged to a sales invoice.
Once the invoice is saved, Oojeema automatically creates an Accounts Receivable voucher for the sales invoice.
Accounting entries are made to record cost of goods sold based on the average cost of the items per item Class as well as the entries assigned to the item during setup. (See Item Class - Accounting details or Item Master - Accounting details)
Accounts Receivable
Accounts Receivable vouchers are documents created to record payment dues from the customer based in invoices generated.
Accounts Receivable vouchers (ARV) that is automatically generated via sales invoices can only be edit through its Sales Invoice
Receipt Voucher
Receipt Vouchers are documents created upon receiving payment in cash or check during a business transaction.
Refer to this document on how to issue a payment using Receipt Voucher
Sales Return
Sales Return occur when customers return defective, damaged, or otherwise undesirable products to the seller.
Refer to this document on how to perform a Sales Return.
Credit Memo
A Credit Memo is a contraction of the term "Credit Memorandum," which is a document issued by the seller of goods or services to the buyer, reducing the amount that the buyer owes to the seller under the terms of an earlier invoice.
Refer to this document on how to create a Credit Memo Aids
Down Payments
A down payment is a type of payment, often in cash, made in the early stages of a purchase of an expensive good or service. The payment represents a percentage of the full purchase price.
Advances from Customers
Advance from customer is a liability account, in which is stored all payments from customers for goods or services that have not yet been delivered. Once the related goods or services have been delivered, the amount in this account is shifted to a revenue account.
Creating Advances from Customers can be done through Receipt Voucher which will generate a Credit Voucher
| Modules | |
|---|---|
| Sales | Sales | Sales Order | Delivery Receipt | Sales Invoice |
| Financial | Accounts Receivable | Credit Memo | Credit Voucher | Receipt Voucher |
| Inventory | Inventory Adjustment | Sales Return | Stock Transfer |
| Maintenance | Account Class | Account Codes | Chart of Account | Currency | Customer | Exchange Rate | Item Class | Item Master | Item Type | Price List | Tax | Terms | Unit of Measure | Warehouse |
| Job Aid Modules | |
| Sales Aids | Sales Order Aids | Delivery Receipt Aids | Sales Invoice Aids |
| Financial Aids | Accounts Receivable Aids | Credit Memo Aids | Credit Voucher Aids | Receipt Voucher Aids |
| Inventory | Inventory Adjustment Aids | Sales Return Aids | Stock Transfer Aids |
| Maintenance Aids | Account Codes Aids | Chart of Accounts Aids | Currency Aids | Customer Aids | Exchange Rate Aids | Item Class Aids | Item Master Aids | Item Type Aids | Price List Aids | Tax Aids | Terms Aids | Unit of Measure Aids | Warehouse Aids |