Accounting Records for Sales

Item 7. Accounting Record of Operations, Marketing, and Sales

7.1. Accounting for Sales PGC

System of Accounting Records and Accounts to Identify PGC

  • (700) Sale of goods
  • (701) Sales of finished products (35)
  • (702) Sales of semifinished products (34)
  • (703) Sale of products and waste (36)
  • (704) Sales of container and packaging (326, 327)
  • (705) Services

Create Accounts and Subaccounts for the Registration of Sales of Goods

The PGC accepts accounts and subaccounts as may be necessary.

Example: blue pen 70001, green pen 70002, red pen 70003

The Accounts of the Company and Control of Charges

  • (430) Customers
  • (431) Commercial paper to pay customers
  • (4310) Commercial paper portfolio
  • (4311) Discounted commercial paper
  • (4312) In commercial paper debt collection
  • (4315) Outstanding commercial paper
  • (433), (434), (435) Associated group companies and affiliates
  • (437) Packaging for return customers
  • (438) Customer advances

Need for New Accounts to Control Receivables

The CMP recommends that the trade effects are not accepted to go to 439. Serves to make customers are reflected by accepting the effects. Although whoever may be left on the 430. It is divided into:

  • (4390) Accepted commercial purposes
  • (4391) Discounted trade bills are not accepted
  • (4392) Commercial purposes not accepted debt collection
  • (4395) Accepted no outstanding commercial paper

Create Customer Accounts and Sub-Accounts

It is mandatory to create sub-account and for each customer by name, address …

The Output VAT on Sales of Goods and Other Property

You have to liquidate the 477 has always taking into account rebates, discounts, advances and bonuses.

The Accounting Valuation of Merchandise Sales

There are 3 rules of valuation:

  • The 9 -> financial instruments
  • The 10 -> value-added tax, VAT and other taxes not included
  • The 14 -> revenues and benefits service

Of these 3, they conclude two things:

  • Sales in the accounts are set the price of goods, net of all discounts and rebates.
  • The bill of sale is not collected:
  • expenses related to sales by the seller. Logged in group 6.
  • Packagings which can be returned. Go to the account 437.
  • VAT payable. Goes to 477.
  • discounts granted to customers.
  • Interests postponement in the event that copper.

7.2. Recording, Monitoring, and Accounting Control of the Goods and Their Slow Recovery Process

Books and Records

  • Book journal and ledger
  • Book Store
  • Record Book issued invoices
  • Books auxiliary to control the portfolio of charges (notes receivable ledger, billing ledger)

Documents support of sales

And amending bills are sent to customers. Removed from storage where instrumentalize charges.

Record accounting transactions

Sales

(430) to (700)

(477)

Prepaid sales

(572) to (438)

(477)

(438) to (700)

(430) (477)

The packaging operations in vent

Packaging Sales

(430) to (701)

(704)

(477)

Containers that are shipped in tank and allowed its subsequent return

Returned

(430) to (700)

(437)

(477)

(437) to (572)

(477)

Not Returned

(437) to (704)

Transportation and insurance sales operations

Transport and insurance costs has increased the number 600. There are different ways when you are a seller:

– Implementation of transportation (if done by itself is not counted.) Transport is made by an external company.

(624) to (410)

(472)

– Customer Impact costs

There are two options, if no effect or if it is passed

(430) to (700)

(477)

(759)

Descuntos and bonuses

Problem of accounting for discounts on sales operations. There are 4 types:

  • Commercial Discounts (sales campaigns, promotions …). Is accounted for by reducing the 700.
  • Prompt payment discount. Account 706.
  • Discount sales. Account 709.
  • Discount defective or non delivery date. Account 708.