Okay, now we’ll see an interesting topic, which is credit control. Credit control is the credit limit that we give to new customers. For example, we have a new customer willing to buy products from us, we will give a limit, an amount limit up to which you can place orders, and if he [...]
read moreSee a special topic called noted items. Noted items is used to post dated checks. Let’s say for example, the customer gives you a post dated checks. The due date of the check is 20th May, 2009. So now, you can keep this check in your file, in the customer’s file, let [...]
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Okay, now let us see a new topic, which is down payments received. As you know, down payment is actually a deposit which is given by a customer when placing the order, so let me just illustrate this with an example. Let’s say the invoice amount is $1000, but the customer [...]
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