System Study For Sales
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KPMG Ford, Rhodes, Thornton & Co. Client : Uni-Dil Packaging Limited Period : Y/E 31.03.2009 Subject: System Study for Sales
Schedule ref: Prepared by : Shathees Reviewed by:
Products Company is manufacturing packing boxes , Cardboard sheets Customers The Company making revenue in the following manner • •
From Indirect Export customer From Local Customer
- 90% - 10%
Company has customers of following sectors • • • • • • •
Tea manufactures Garments Food & Beverage Ceramics Rubber Aqua (Fathering) Others
- 35% - 25% - 15% - 10% - 10% - 3% - 2%
Procedures for new customers •
Customer need to fill “Customer Information Form” and this document should be approved by following officers. 1. Director 2. Marketing Manager 3. Finance Manager
•
Marketing division has to evaluate the new customer credit worthiness from Minimum two other suppliers.
KPMG Ford, Rhodes, Thornton & Co. Client : Uni-Dil Packaging Limited Period : Y/E 31.03.2009 Subject: System Study for Sales
Schedule ref: Prepared by : Shathees Reviewed by:
Competitors Currently the Company is holding 15% market share in the packaging market and the major competitors are as follows, • • • •
Cent Regid Ceylon Paper Sacks Abdullah Paper Sacks Ms Packaging
KPMG Ford, Rhodes, Thornton & Co. Client : Uni-Dil Packaging Limited Period : Y/E 31.03.2009 Subject: System Study for Sales
Schedule ref: Prepared by : Shathees Reviewed by:
Receiving of Quotation Request from the customer
Quotation sent to customer 1. Marketing Assistant prepares “Price Estimate Report” (System generated) and based on this report he will prepare the Quotation and send to Customers. 2. Marketing Assistant should obtain approval from Assistant Manager – Marketing to give more than 5% discount from system generated price and if the discount rate is more than 10% should obtain approval from director. Discount is decided on the negotiation period after the quotation.
Purchase Order from Customer 1. Marketing Assistant matches the price of Customer Order and Quotation then handover the P/O to Accounts Division. (He puts his signature in the Customer Order) 2. Assistant Manager – Sales checks “Daily Order Received Report” (System generated) to ensure discount given to customers (more than 5% of the system price) has been approved and the report should be authorized by Finance Manager.
KPMG Ford, Rhodes, Thornton & Co. Client : Uni-Dil Packaging Limited Period : Y/E 31.03.2009 Subject: System Study for Sales
Schedule ref: Prepared by : Shathees Reviewed by:
Production Order Report 1. Once Purchase Order is received from marketing division Accounts Assistant verify the price with quotation and prepare “Production Order Report” (5 Copies) for requirement of the following department. • Accounts Dept. • Planning Dept. • Printing Dept. • Marketing Dept. 2. Production Order Report is authorized by Assistant Manager – Marketing dept. and hand over to Planning Dept. 3. Planning dept. is responsible for achieving dead line of customer orders. Further planning dept. coordinate with Stores to get material required and printing dept.
Printing Dept. 1. Printing division has to communicate with the following sub division • Cutting • Assembling • Printing 2. Quality Assurance dept. checks the quality of the output.
KPMG Ford, Rhodes, Thornton & Co. Client : Uni-Dil Packaging Limited Period : Y/E 31.03.2009 Subject: System Study for Sales
Schedule ref: Prepared by : Shathees Reviewed by:
Dispatch Dept. 1. Dispatch dept. prepares “Advice of Dispatch” (AOD two copies) and Production Executive authorizes the AOD. 2. Security division checks the Advice of dispatch with the delivery goods.
Finance Dept. 1. Accounts Assistant prepares Sales Invoice (2 copies) and the same Accounts Assistant authorizes the Sales Invoice. ( This has been identified as control weakness and Included in ML) 2. Sales Ledger and Debtors Ledger are updated at the same time when invoices are posted.
Cash Sales 1. Company generates receipts for cash receipts. 2. Company ensures the customer’s cheques are realized, before releasing goods to customers.
KPMG Ford, Rhodes, Thornton & Co. Client : Uni-Dil Packaging Limited Period : Y/E 31.03.2009 Subject: System Study for Sales
Schedule ref: Prepared by : Shathees
Credit Sales
1. Assistant Manager-Credit control is follow-up monthly outstanding statement (System generated) and communicates with relevant marketing executive for outstanding collection. 2. The credit periods given to customers are 3odays, 45days and 60 days. Procedures for long outstanding • •
Outstanding for 90days – 120days Outstanding over 150days
- 1st reminder - Letter of demand and stop new orders
Sales Commission 1. Company pays sales commission to Marketing Executives if the payment is received from customers within 60days. Commission rates are as follows. •
Payment collected 1 – 7 days from the Invoice date - 2% on the profit margin
•
Payment collected 7 – 45 days from the Invoice date - 1% on the profit margin
•
Payment collected 45 – 60 days from the Invoice date - 1% on the profit margin
KPMG Ford, Rhodes, Thornton & Co. Client : Uni-Dil Packaging Limited Period : Y/E 31.03.2009 Subject: System Study for Sales
Schedule ref: Prepared by : Shathees
Sales Return 1. When the goods are returned by the customers Dispatch division prepares Finished Goods Returned Note” (FGRN) and it should be authorized by Production Manager & AGM Operations. 2. Production manager prepare weekly report on sales returns identifying the reasons, person responsible and preventive measures.
Schedule ref: Prepared by : Shathees Reviewed by:
Products Company is manufacturing packing boxes , Cardboard sheets Customers The Company making revenue in the following manner • •
From Indirect Export customer From Local Customer
- 90% - 10%
Company has customers of following sectors • • • • • • •
Tea manufactures Garments Food & Beverage Ceramics Rubber Aqua (Fathering) Others
- 35% - 25% - 15% - 10% - 10% - 3% - 2%
Procedures for new customers •
Customer need to fill “Customer Information Form” and this document should be approved by following officers. 1. Director 2. Marketing Manager 3. Finance Manager
•
Marketing division has to evaluate the new customer credit worthiness from Minimum two other suppliers.
KPMG Ford, Rhodes, Thornton & Co. Client : Uni-Dil Packaging Limited Period : Y/E 31.03.2009 Subject: System Study for Sales
Schedule ref: Prepared by : Shathees Reviewed by:
Competitors Currently the Company is holding 15% market share in the packaging market and the major competitors are as follows, • • • •
Cent Regid Ceylon Paper Sacks Abdullah Paper Sacks Ms Packaging
KPMG Ford, Rhodes, Thornton & Co. Client : Uni-Dil Packaging Limited Period : Y/E 31.03.2009 Subject: System Study for Sales
Schedule ref: Prepared by : Shathees Reviewed by:
Receiving of Quotation Request from the customer
Quotation sent to customer 1. Marketing Assistant prepares “Price Estimate Report” (System generated) and based on this report he will prepare the Quotation and send to Customers. 2. Marketing Assistant should obtain approval from Assistant Manager – Marketing to give more than 5% discount from system generated price and if the discount rate is more than 10% should obtain approval from director. Discount is decided on the negotiation period after the quotation.
Purchase Order from Customer 1. Marketing Assistant matches the price of Customer Order and Quotation then handover the P/O to Accounts Division. (He puts his signature in the Customer Order) 2. Assistant Manager – Sales checks “Daily Order Received Report” (System generated) to ensure discount given to customers (more than 5% of the system price) has been approved and the report should be authorized by Finance Manager.
KPMG Ford, Rhodes, Thornton & Co. Client : Uni-Dil Packaging Limited Period : Y/E 31.03.2009 Subject: System Study for Sales
Schedule ref: Prepared by : Shathees Reviewed by:
Production Order Report 1. Once Purchase Order is received from marketing division Accounts Assistant verify the price with quotation and prepare “Production Order Report” (5 Copies) for requirement of the following department. • Accounts Dept. • Planning Dept. • Printing Dept. • Marketing Dept. 2. Production Order Report is authorized by Assistant Manager – Marketing dept. and hand over to Planning Dept. 3. Planning dept. is responsible for achieving dead line of customer orders. Further planning dept. coordinate with Stores to get material required and printing dept.
Printing Dept. 1. Printing division has to communicate with the following sub division • Cutting • Assembling • Printing 2. Quality Assurance dept. checks the quality of the output.
KPMG Ford, Rhodes, Thornton & Co. Client : Uni-Dil Packaging Limited Period : Y/E 31.03.2009 Subject: System Study for Sales
Schedule ref: Prepared by : Shathees Reviewed by:
Dispatch Dept. 1. Dispatch dept. prepares “Advice of Dispatch” (AOD two copies) and Production Executive authorizes the AOD. 2. Security division checks the Advice of dispatch with the delivery goods.
Finance Dept. 1. Accounts Assistant prepares Sales Invoice (2 copies) and the same Accounts Assistant authorizes the Sales Invoice. ( This has been identified as control weakness and Included in ML) 2. Sales Ledger and Debtors Ledger are updated at the same time when invoices are posted.
Cash Sales 1. Company generates receipts for cash receipts. 2. Company ensures the customer’s cheques are realized, before releasing goods to customers.
KPMG Ford, Rhodes, Thornton & Co. Client : Uni-Dil Packaging Limited Period : Y/E 31.03.2009 Subject: System Study for Sales
Schedule ref: Prepared by : Shathees
Credit Sales
1. Assistant Manager-Credit control is follow-up monthly outstanding statement (System generated) and communicates with relevant marketing executive for outstanding collection. 2. The credit periods given to customers are 3odays, 45days and 60 days. Procedures for long outstanding • •
Outstanding for 90days – 120days Outstanding over 150days
- 1st reminder - Letter of demand and stop new orders
Sales Commission 1. Company pays sales commission to Marketing Executives if the payment is received from customers within 60days. Commission rates are as follows. •
Payment collected 1 – 7 days from the Invoice date - 2% on the profit margin
•
Payment collected 7 – 45 days from the Invoice date - 1% on the profit margin
•
Payment collected 45 – 60 days from the Invoice date - 1% on the profit margin
KPMG Ford, Rhodes, Thornton & Co. Client : Uni-Dil Packaging Limited Period : Y/E 31.03.2009 Subject: System Study for Sales
Schedule ref: Prepared by : Shathees
Sales Return 1. When the goods are returned by the customers Dispatch division prepares Finished Goods Returned Note” (FGRN) and it should be authorized by Production Manager & AGM Operations. 2. Production manager prepare weekly report on sales returns identifying the reasons, person responsible and preventive measures.
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