An invoice with payment terms and a due date is sent to the customer.
After a sale to an A/R Customer is made
Asset
Sundry Debtors
an asset
The revenue cycle is the sequence of transactions beginning from the time when a sale is first made, through billing the customer, through the time cash is received from the customer in payment of the bill.
When a sale is made to a customer on credit, it creates an AR which is classified by the company as an accounts receivable.
After a sale to an A/R Customer is made
customer and the percentage made from the sale.......... silly
A business man agrees on a sale that the customer and it made.
Asset
Sundry Debtors
an asset
Sundry Debtors
The point of sale system in reference to the customer is going to overall enhance their shopping/buying experience. Less mistakes will be made, it should speed up their time at the register. The POS system can store their information for future use, process credit card trasactions. In my opinion there are no disadvantages for the customer with a well working point of sale system.
The objective of the point of sale is to complete the sale and have the customer leave with the merchandise. It is important to remember that it is the last contact the customer has with the store, so it should be extremely friendly and encourage the customer to want to return. Point of Sale provides 1. Inventory Management 2. Customer Data 3. Accounting Automation
The revenue cycle is the sequence of transactions beginning from the time when a sale is first made, through billing the customer, through the time cash is received from the customer in payment of the bill.
Following up with your customer, once you've made a sale, is an important part of providing good customer service. Not only is it an important part of developing a good relationship with your customer, but it will also enable you to introduce your new products.