Consignment Customers

Transcription

1 1. Objective 2. Scope 3. Inputs The objective of this procedure is to describe all the activities associated with handling the accounts of Van Sales /Retail - Consignment customers The scope of the activities defined in the procedure is applicable to the Finance Department of Axiom Telecom UAE Move Order / Stock Reports from HANDHELD System or ERP Stock take Schedule Sell Out & Closing Stock Report from Consignee 4. Hierarchy and responsibility Finance Receivables Credit Controller Recon Page 1 of 7

2 5. Requirements Activity : Pre-activities Requirements Manual Invoice (only used when it is not possible to issue invoice using the HANDHELD) - Define Consignee in ERP - Define Site in ERP - Define Sub-inventory location in ERP (in Co-oordination with ERP Admin) - Link Customer sites and subinventories to the Vans if MO doing through PDA Terms of consignment Consignees set up in system P.O.S. (Handheld) - Setup the Handheld (IT department) - Update (Synchronize) in the Handheld Consignment terms, Credit limits/ credit in days to be mutually agreed by the Customer and Axiom management and to be documented in a legal contract/ agreement Update of the credit terms in the ERP by credit controller upon receiving the signed contract Payment terms - As per the agreed payment cycle in the Contract/ Agreement. Page 2 of 7

3 6. Activities Activity : Daily Day End Process (1) To ensure Daily posting of MO in the Handheld and interface to PDA ERPor PDA Sales rep to make MO based on the LPO receiving from the consignment customer and send to warrhouse for delivery or deliver by if sales rep if assigened to Vansales Sales Rep Day End Process and data transfer to ERP Delivery Based on the Sell Out Report from Consignee Sell out/account status report from ERP Warhouse or sales man (PDA) deliver the stock The Sales Coordinator will upload the invoice to make the Auto Invoice. Receivable to verify the invoices created correctly in ERP and total amount is matching with the monthly SELL OUT amount. Sales Rep / Reco Sales Coordinator Sales Coordinator/Reconcilia tion Consignee wise sales report - HANDHELD system or POD with Sales invoice ERP Customer Ageing Report Monitoring the Ageing Report and followup the payment as per the credit terms agreed /Credit Controller Customer Aging report Payment entry in the system When payment receive pass the receipt in the system and do the application with the respective invoice in the same month. Receipt Voucher In case of any variance in the payment or unpaid invoices, raise the same with the consignee in the same month to be resolved in the next payment Emial Page 3 of 7

4 Activity : Inventory (Consignment ERP locations Stock matching with Consignment Stock Report from the Consignee) Ensure Inventory is in control Based on the Closing Stock Report from the Consignee and Shedule Based on the Schedule, will prepare the stock variance report for Consignment Locations Process to be started after Sell Out Invoiced for the previous month ERP Stock on Hand Report/Consigne e sell out report To take Closing Stock Report on 1st of the Month fron ERP and to match it with the Stock On Hand Report from the Consignee. Pending current month's sell out need to consider for generating the varaince. Stock Varaince Report Inform the Consingnement account manager, Channel and Country finance manager for necessary actions and approval. Make the Adjustment for Variances after approval from them in the system Cycle Count Varaince Report Cycle Count Approval Report/ Country Finance to approve in ERP, if there is any Shortages/Excess Country Finance Page 4 of 7

5 Activity : Inventory (Matching the Physical Inventory of Consignment locations with ERP Inventory balalance) Ensure Inventory is in control Based on the stock take schedule Sales Man to count the Pysical stock counts in the consignement sites and take the stock on hand report from the consignment sites system if possible Reconiciliation /Sales Representative Physical Count Sheep Process to be started 1st of every month before making any new transactions to the respective consignment site Reconiciliation /Sales Representative accountat to match the counted stock with the ERP stock balance Reconiciliation /Sales Representative Varaince Report In case of shortage,inform CFM & Channel manager about the gap and request for write off approval Cycle Count Varaince Report Confirmation Country Finance manager approve cycle count Country Finance Stock updated Page 5 of 7

6 Activity : Inventory: Aged stock Pull Back To maintain Stock Ageing Stock Ageing Report Site Wise to generate the Inventory Ageing Report after the Sell Out booked in Every month Share the Inventory Ageing Report with Petrol Station Divn (Sales Supervisor//Business Analyst, Receivables manager and Credit Controller, CFM) /Sales Supervisor//B usiness Analyst Inventory aging report Sales Team to do necessary Pull Back the stocks as per agreed Over-aged days. Sales Team/Sales Supervisor MO Return Page 6 of 7

7 7. Outputs Receipt Auto Invoice Report Sell Out Report Closing Stock Report MO return 8. Monitoring and Measurement Refer to Process Control Sheet 9. Forms and s Name Receipt Voucher Invoice - POD Move Order Report Stock Variance Reports - Van Stock Variance Reports - Consignment Locations Inventory Aging report Sell Out Reports 10. Interfaces None 11. Process Tailoring None Page 7 of 7