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UNIT 4: Revenue and Receipts Cycle - Coggle Diagram
UNIT 4: Revenue and Receipts Cycle
Credit sales
Ordering Function
Objective
: Record orders from Customers and Initiate action to fill them.
Documentation:
Customer Order
Internal Sales Order
Pricelist
Credit Application Form
Credit bureau information
Order Form Customer: Generates a Internal Sales Order
Dispatch Function
Objective
: To fill orders promptly and accurately and to ensure only authorized orders are acted on.
Documentation
Pickslip
Delivery Note
Back Order Note
List of Deliveries
Invoicing Function
Objective:
To notify the customer promptly of amounts due for goods supplied
Documentation
Sales Invoice
Price Lists
Recording function
Objective:
To record the sales made and to raise the corresponding debtor promptly
Documentation
Invoice
Sales Journal
Debtors Ledger
General ledger
Credit Management Function
Objective:
To limit the loss from Bad debts and to encourage debtors to pay promptly
Documentation
All Records kept in the cycle are relevant
Age Analysis
Monthly Statement
Credit Bureau information
Credit Application Process Done at ordering Function
Identification of Debtors to be handed to lawyers