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CREDIT MANAGEMENT FUNCTION, RECIPTS FROM DEBTORS AND CASH SALES, RECEIPTS…
CREDIT MANAGEMENT FUNCTION
OBJECTIVE
Limit loss from bad debts and encourage debtors to pay promptly
DOCUMENTS
Age analysis
Monthly statement
Records kept in cycle relevant
RISKS
Debtors prematurely or inappropriately written off
debts written off without authority
debtors pay late or don't pay
RECIPTS FROM DEBTORS AND CASH SALES
OBJECTIVE
Must be captured correctly an kept in till until cash up performed
Over the counter sales - cashier receives money immediately
DOCUMENTS
Receipt
RISKS
Despoits not recorded timeously or not recored at all
Payments received not banked - theft or carelessness
FUNCTIONAL AREA
Cash sales
RECEIPTS FROM DEBTORS AND CASH SALES
OBJECTIVE
Arrival go payment from debtor record and prepared for banking
FUNCTIONAL AREA
Receipts and recording of receipts
DOCUMNENTS
Proof of payment
EFT
RISKS
Despoits not recorded timeously or not recored at all
Payments received not banked - theft or carelessness