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For any businesses which provides "open terms" policy to their customers, it is important to have a cap on the amount of credit given. Every customer is given different amount of credit in relation to their sales turnover.
These credits are monitored on a daily, weekly or monthly basis according to individual companies requirement.
A person from the finance dept or marketing is appointed to ensure the total invoice value at any point of time do not exceed the credit amount agreed.
What else can I help you with?
What is the internal control procedure for the credit sales?
Usually, the internal control procedure for credit sales is a credit check by the seller. Other methods used for control include an aging of accounts receivable. Returning customers are judged on their ability to pay by how fast they paid in previous transactions.
What jobs are involved in credit control?
Jobs such as senior finance advisers, full and part-qualified accountants, tax and treasury workers, public services workers and cover credit controllers (trainee and part time also) jobs are involved in credit control.
What are the top three business credit bureaus?
The top three business credit bureaus are Dun & Bradstreet, Business Experian and Business Equifax. These credit bureaus control 99% of the credit bureau market.
What does debit and credit mean?
Debit is when they take from your bank. A credit is money paid into your account. But the other meaning of credit is the ability to borrow money. The more money you make and the more you use your credit and pay it off, the more credit you get.
What does cc mean in reg cc for banking?
It means Credit Control
Selective credit control?
pappu can't dance sala.............. is selective credit control.
What is the meaning of revolving line of credit?
The meaning of a revolving line of credit is a line of credit that is not linked to a certain number of payments. It is the complete opposite of installment credit.
What are the function of credit control department?
The functions of the credit control department include the effective and efficient control and collection of all income and debt management.
What is the meaning of credit cards for people with poor credit?
The meaning of credit cards for people with poor credit refers to credit cards that are approved to people that have had financial problems or debts in the past. They usually allow one to rebuild their credit score.
What is credit control policy of rbi?
control of supply and demand of the money.
What is meant by credit card companies having to validate?
meaning of credit card
Is it the same meaning of credit and loan?
No. A loan utilizes one's credit, but the loan does not define one's credit capability.
What is poor credit control?
LaaaaaaaLaaaaaaaaaaaLaaaaaaaaaaLaaaaaaaaaaaLaaaaaaaaaaaaaaaaaaaaa :D
Is bank a debit or credit?
The answer will appear on the statement in re, meaning that it is a negative or credit value.
What is the meaning of credit card in marathi?
UDHAARIPATRA
What is the meaning of lc?
Letter of Credit payment
How is opening letter of credit different from establishing letter of credit?
Both has same meaning, opening letter of credit establishing letter of credit once letter of credit is opened, credit is established.
