Van Sales. Ver : 2.0 AT/F/PR 07 Date : 12/09

Transcription

1 1. Objective The objective of this procedure is to describe all the activities associated with handling the accounts of Van Sales. 2. Scope The scope of the activities defined in the procedure is applicable to the Finance Department of Axiom Telecom UAE 3. Inputs Sales / Stock Reconciliation Sheet Schedule Stock Requisition Form Credit Monitoring Report 4. Hierarchy and responsibility If the organization structure doesn t provide Senior ; all the tasks will be handled by with the full coordination with Account Supervisor. Page 1 of 16

2 5. Requirements Activity : Pre-activities Requirements KPI: Customers set up in system Manual Invoice (only used when its not possible to issue invoice using the HANDHELD) Define Customer in ERP Define Site in ERP (each customer should be linked to particular site). No customer is allowed to be sold by more one van; unless Account Supervisor is informed (by ) in order to updated in system. Then; the site in ERP should be defined accordingly. P.O.S. (Handheld) Define Customer in ERP Define Site in ERP (each customer should be linked to particular site). No customer is allowed to be sold by more one van; unless Account Supervisor is informed (by ) in order to updated in system. Then; the site in ERP should be defined accordingly. Update (Synchronize) in the Handheld If Customer with Credit: Credit limits/ credit in days to be recommended by Channel Manager, reviewed by Country Finance Manager and should be approved by Country VP in charge. Customers paying by cheques will be considered Credit Customers and limits need to be set initially since cheques take 2-4 days to be collected (in addition to bouncing back risk). Bouncing cheques When cheque bounced back; credit limits should be stopped (will be blocked in Handheld), and payment collection transfer customer to cash, or VP approval. Page 2 of 16

3 6. Activities Activity : Daily Collection (1) Input / To ensure On-Time & Correct KPI: payment collection from van sales man. Process Sequence Process Step Responsibility Record Generated Deliver Cage to warehouse Salesman/ Security (Handheld Interface) Salesman to put the HANDHELD on the docking station to synch with system (download daily sales data and update the inventory) start data inter- face and Day End Process. In Case of manual invoice due to data problem, correction should be in same day in coordination with IT max by next day morning. Salesman Day End Process and data transfer to ERP sales report (HANDHELD Interface) Customers Wise sales Report with copy of all sales invoices done including details of collections done (cash and cheques) Salesman/ Cashier sales report HANDHELD system (HANDHELD Interface) Confirm from manual invoice book that; all the invoices have been captured (from customer account in the system) to insure that no manual invoice is still pending (in case of any pending to be listed in the daily reconciliation) Van sale Cashier sales report with copy of all invoices attached with the actual cash and chqs received sales report with support Sales man to sit with the cashier for the daily sales process. The sales man will submit the customer wise sales report + detailed support (invoice copies) + daily collections + Sale man / Van sales Cashier sales report with support Page 3 of 16

4 Activity : Daily Collection (1) Input / To ensure On-Time & Correct KPI: payment collection from van sales man. Process Sequence Process Step Responsibility Record Generated details of manual invoices and other issues that could not be solved in the same day + reconciliation (if required) sales report with support Upon receiving the amount & cheques, Cahier will approve Customers Wise sales Report (confirms data match in ERP is a must) Van sale Cashier sales report with support Hand over Salesman to Cashier Sign and stamp (dated stamp) the above report as proof of receiving the money & documents. As proof of handover of all cash and cheques from salesman to cashier. One copy to be kept with sales man file and the other with accounts. Issue document listing all cheques received from that sales man (list of cheques received & customer name signed by salesman to be able to track bounced cheques). Cashier will fill all details of van wise customer wise sales report on the consolidated sales report sheet. This will be the summary daly sales report having all required details to be submitted end of the day from Cashier to Van sale Cashier sales report with cash and cheques details. Signed with two copies one with sales man and the other for accounts + list of cheques received by salesman signed. Place cash and cheques in cashier Safe. sales report (for each van sales) and the daily sales report Repeat above process for each van sales man Cashier / Van sales man sales report and the Daily sales report (including customer wise, van wise sales and collections of cash and cheques for the Page 4 of 16

5 Activity : Daily Collection (1) Input / Daily sales report with support (customer wise sales report + cheques and cash) To ensure On-Time & Correct KPI: payment collection from van sales man. Process Sequence Process Step Responsibility Record Generated day) Cashier to send the Daily sales report (excel) to the accountant and hand over the cash and cheques Van sale Cashier / Cash & cheques entry in system Process AR receipts according to payment mode per customer per van. (For cash, to be processed as one batch for all customers/ vans of that area & receipt reference will be money receipt voucher #s) (For cheques, the receipt number will be the cheque number with money receipt voucher #). ERP Applied or Unapplied Receipt Voucher Report. Receipts notes to match respective invoices Process Receipt Summary Report to catch receipts voucher and match it with related invoices ERP Summary Receipts Report & Applied or Unapplied Receipt Voucher Report. Cash & Cheques with the deposit slips Prepare cheques deposit as per bank standard rules of deposit (i.e. one deposit = one cheque, or 1 deposit = for several cheques listed per available fields, or if bank is having automated cheques deposit facility then no manual deposit done.) Deposit the money in the bank. The bank deposit slip is kept with accountant as proof of deposit, and attached to the Daily sales report (excel) Money Collector/ Collection company (Mashreq Bank) / Bank deposit prepared Bank deposit slip Page 5 of 16

6 Activity : Daily Collection (1) Input / To ensure On-Time & Correct KPI: payment collection from van sales man. Process Sequence Process Step Responsibility Record Generated Once online banking show money realized; clear the receipt from cash management. Bank GL account is updated & cash management is cleared In case or Senior are located in different location of Van sale Account Supervisor Forward the support documents (daily sales report on excel + customer cheque list + Applied & Unapplied Receipt Voucher Report + Bank deposit slip) to Van sale Account Supervisor for review & approval. / Van sale Account Supervisor. Journal voucher of posted bank deposit entry. Note: if is not located in the same area then the full documents could be fax (scanned & ed Recommended) for review & approval. If bank deposit slip is not available yet, Internet banking could be used for verification. Discrepancy (Cash Shortage) Incase of cash shorted found & verified while money is being collected from Sales man, to inform the Van Sales Supervisor prior to handover. After that; the form will be signed by both the & the Van Sale Supervisor mentioning the discrepancy found & obtain the Sales man signatory as proof of shortage. Note: Van sale Account Supervisor/ Country Finance Manager to be informed first thing in the morning. Senior & Van sale Supervisor Discrepancy signed to Van sale Account Supervisor/ Country Financial Manager. Page 6 of 16

7 Activity : Daily Collection (1) Input / Discrepancy (Bounce Cheque) To ensure On-Time & Correct KPI: payment collection from van sales man. Process Sequence Process Step Responsibility Record Generated In case of any cheque bounce problems, inform to the Sales man / Van sale Supervisor to take necessary actions. Any cheque bounces the replacement will be done thro' cash only not by cheques. Also, any credit limit exceeds further clearance will be done thro' cash only. Or approval from VP should be obtained before the sale takes place /, Salesman & VP Activity Decision Review & Approval Page 7 of 16

8 Activity : Daily Collection (2) Input / Process Sequence KPI: Process Step To ensure On-Time & Correct payment collection from van sales man Record Responsibility Generated Receivable reconciliation done for all payment received on daily basis for any reconciliations + Confirm van receivables accounts nullified (Preparation of all ERP entries and receipts) / Van sales Account Supervisor Reconciliation Report Credit Note : Price reduction / any discount as per agreement Updates coming from sales for all products under price reduction. By sending by Manager to Account Supervisor. ( Account Supervisor inform his subcoordinates by ). Manager/ Van sales Account Supervisor Send for notification Issue Credit Note per customer The Sales man based on information received will prepare the Credit Note per customer Sales man Credit Note Can also recorded in the Invoice for proper control (included in the HANDHELD) Credit note checked by the Van Sales. Verify the customer Credit Note against invoices sold in previous period (max 3 days old), verify price and received & book the CR in ERP. Credit Note / Invoice verified. Review Credit Note and approve/ modify if required. Deliver Credit Note to Sales man. Credit note to be used as mean of payment (deduction) from the next issued invoice to the customer. / Van sales Account Supervisor Approved Credit Note Activity Decision Review & Approval Page 8 of 16

9 Activity :Credit Controlling / market collection Input / Process Sequence KPI: Process Step Monitor & Control the Credit Terms are maintained all Times Record Responsibility Generated Based on the credit Terms / Payment Terms The will run the Credit Monitoring Report after all transcriptions are completed in system (daily) / Van Sales Supervisor Credit Monitoring Report The same report has been verified by the for credit limits / terms control / Van Sales Supervisor Credit Monitoring Report Credit monitoring Report The same has been given to the concerned Van Sales man for follow up - to understand the available credit limits on each customer. / Van Sales Supervisor Credit Monitoring Report Where touching the limits / Exceeding the limits Any outstanding / Exceptional cases will be informed to Van Sales Supervisors/ Country Finance Manager for necessary actions Van Sales Supervisor/ Country Finance Manager Activity Decision Review & Approval Page 9 of 16

10 Activity : Inventory KPI: Variation should be Nil Input / Process Sequence Process Step Responsibility Record Generated Weekly, based on the schedule the physical Inventory has been updated in the system Based on the internal account schedule, the will prepare for stock take for van warehouse (cage) Van Daily full stock counts on scheduled vans. Process to be started in the morning after cage stock refill. Van Conduct the count, sent to IT to generate variance report for reconciliations. accountant / Salesmen Salesman sign physical stock count result Verify adjustment for variance if any in System Account Supervisor/ IT department Inform the Van Sales Supervisor for necessary actions & approval. In case of shortage, send info for payroll to do salary deduction & inform CFM & Channel manager for gap. Account Supervisor Country Finance manager approve cycle count CFM Stock updated. Activity Decision Review & Approval Page 10 of 16

11 Activity :Bank Reconciliation Cash / Credit KPI: Tallying bank account with books Input / Process Sequence Process Step Responsib ility Record Generated Cheques (both on time/pdc) reconciliation should be prepared on daily basis. Cheques should be kept in s safe as per maturity date sequence. (Daily; Receipt Journal report shows all matured cheques need to be deposited in Bank) Van sales Account Supervisor must insure that all the matured cheques for the day have been deposited before bank closing time. / Supervisor Receipt Journal Report Prepare the reconciliation with supporting document for all pending payments ( Bounced/ PDC cheques, cash for the days deposit not yet done only non working days of the end of the month should be pending for cash deposits , Reconciliation Report Recommendation: Cash management & bank reconciliation should be segregated & managed By GL to have job segregation & controls from different division. Coordinate cash bank account reconciliation with GL on daily basis to insure all bank deposits are cleared. Or Van sales accountant to do reconciliation depending on country setup GL / accountant Activity Decision Review & Approval Page 11 of 16

12 Activity : Day to Day Follow up Input / Process Sequence KPI: Process Step Ensure daily Control on stock movement and on time status of store inventory Responsib Record Generated ility Sales return for Phone care At the customer: inspect the damaged phone. This is to insure the case of damaged phone is eligible for replacement of new phone. After inspection: Accept and take the damaged phone Issue a new phone to the customer in the HANDHELD to do a move order to Phonecare location. Take the damaged phone and give it to Phonecare. Inform the during the hand over of sales report, cash and cheques. man / Phonecare / Van sales Account Move order to Phonecare, Phone care to accept SLI Prepare weekly status on unresolved issues pending during the week to the Country Finance Manager. Pending issues related for more than one week time need to be addressed on top priority to insure repetitive mistakes are avoided. Activity Decision Review & Approval Page 12 of 16

13 Activity : Stock controlling ( Issue / Receipt ) Input / The Van Sales Supervisor will also allocate the special items- Recommendation Process Sequence Requisitions Form - Van Salesmen - given for items needed to the Store Keeper for issue in evening KPI: Process Step To maintain the physical stock variations as Nil Responsibility Sales man Record Generated Stock Requisition Form ( limits of distribution Loading of Items to be defined ) Check the stock Availability in system (warehouse) Store Keeper All stock in system transfer will have their own reference no. to be matched for transfer between the locations Prepare available stock for deliver; process move order in ERP Van Sales / Store keeper each enter his location Move order Load the items in the van in presence of van driver, Van Salesman, Security & Store Keeper & get signatory of Salesman & Security on the move order Store Keeper Salesman and Security Then the will verify the approval of Salesman, Security & Store Keeper Confirm - Mover order for van location posted in the system Move order Stock Return Form will be made for items to be returned and given to the warehouse Salesman Stock Requisition Form (return) Proper approval signatures to be made in Stock Transfers / move orders Return physical stock in the presence of Salesman, Security & Store Keeper, generate the move order in warehouse location to be signed by security, salesman and store keeper, signed copy filed with security and store Store Keeper, security and sales man Signed move order by Security, Salesman & Store Keeper Page 13 of 16

14 Activity : Stock controlling ( Issue / Receipt ) Input / Process Sequence KPI: Process Step To maintain the physical stock variations as Nil Responsibility Record Generated to verify the approved form & posting done move order in van location. Move order Warehouse based on the move order posted, the stock is updated in system. Store keeper Move order Inspection of material during the receipt to be evidenced & Recorded, any damages to be recorded & Actions to be initiated for improvement- Recommendation Activity Decision Review & Approval Page 14 of 16

15 Activity : Commissions KPI: Input / Process Sequence Process Step Responsibility Record Generated AS PER COUNTRY STRUCTURE FOR COMMISSIONS Page 15 of 16

16 7. Outputs Receipt Voucher Cash / Cheque Deposit receipt Reconciliation Report Stock Transfer Out Credit Monitoring Report 8. Monitoring and Measurement Refer to Process Control Sheet 9. Forms and Records Name Sales / Stock Reconciliation Sheet Receipt Voucher Cash / Cheque Deposit receipt Invoice Reconciliation Report Credit Note Move order Stock Requisition Form Credit Monitoring Report 10. Interfaces None 11. Process Tailoring None Page 16 of 16