252435 - Basic Invoicing_Financial and Accounting Principles

Supplementary Invoices

• Once the accounts section has reconciled the creditors
account it is then in a position to distribute its findings by
means of a report to the different departments.

• On receipt the department must then take action on those
items which have been listed on the report. This will involve
the retrieval of the work files involved, if they are not still in an
active status, and checking the nature of the query.

Reconcile and identify individual transactions with
statements of accounts.

Reconciliation is made between the invoices and statement
of accounts.

Reconciliation between Invoice and
Statement of Account

• Once the accounts section has reconciled the creditors account it is then in
a position to distribute its findings by means of a report to the different
departments.

• On receipt the department must then take action on those items which
have been listed on the report. This will involve the retrieval of the work
files involved, if they are not still in an active status, and checking the
nature of the query.

• You also need to remember that the list of creditors is not only be
restricted to those parties who are based in the same country but also
outside of the country e.g. your overseas agents.

Identify and disburse the items on behalf of the
organization to be recovered in the invoicing process.

Cartage charges as disbursed by the organisation, are
identified and posted to the cartage disbursement account.

Cartage charge disbursed are identified

• Cartage charges will be incurred on most shipments unless the importer or
exporter arranges their own collection or delivery using their own cartage
operator or delivers in or collects the container or cargo using their own
transport.

• Some clearing and forwarding agents also use their own fleet of vehicles
although the trend over recent years has been to sub contract this out to
service providers as it is expensive to own and operate a fleet of various
sized vehicles which cannot be utilised on an ongoing basis and make sure
that the basic running and operating costs of both these and the drivers
are at least covered or, better still, exceeded.

Identify and disburse the items on behalf of the
organisation to be recovered in the invoicing process.

Storage charges as disbursed by the organisation are
identified and posted to the storage disbursement account.

Storage charge disbursed are identified

• There are many reasons why storage could be incurred and several
different parties who may be involved in terms of to whom you disbursed
this type of charge.

• Full container loads which are not collected from the Terminal within the
specified time allowed will go onto overstay which will involve a storage
charge being paid to the ship’s agent on behalf of the container facility to
which the container has had to be removed.

• For LCL cargo storage would occur when the cargo has not been collected
within the time permitted from the day on which the container was
unpacked at the container depot.

Identify and disburse the items on behalf of the
organization to be recovered in the invoicing process.

All special charges such as extra attendance are disbursed by
the organisation are identified and posted to the
disbursement accounts.

Special charge disbursed are identified

• Special attendance is an additional charge which is not incurred very often
as it is raised by SARS Customs and Excise in circumstances where their
time has been wasted whilst trying to carry out an inspection of some
nature.

• This could be a Customs Stop inspection of the goods as a result of
Customs and Excise detaining rather than releasing the goods after
checking the SAD 500 or it could relate to other kinds of inspection such as
the checking of goods which have been temporarily imported to make sure
that the same items are now being exported.

Questions & Answers

For further information on this and
other Training Courses offered by
GMLS, please contact us on:-

Website: www.gmls.co.za
Email: [email protected]

Office Mobile: +27 82 852 3626

Tel: +27 44 813 0052
or +27 11 425 1840