The sales module has capability of making invoices / memos of many different types of sales / returns or other transactions. These transaction are posted correctly as per the requirement of each type of sale. The sales book also shows these different kind of sales separately. Also reporting is done for all types of sales as per their classification.
A modern business or trading house may have many kind of activities, like stockistship, distributorship, clearing and forwarding, cash sales or credit sales. All these types of sales transaction can be handled by the Sales Module of HiTech Financial Accounting Program.
The basic two categories of sales are distribution or general sales. Distribution is selling products of one single company in one invoice to the dealers or stockist. Each of distribution invoices and memos always contain products of one company. These are included in Distribution Sales of that company and all the reports like areawise / customerwise / productwise sales are prepared for that individual company.
In general category of sales products of any number of companies can be sold through one invoice. That means in one invoice products of many companies are included. This is normally the billing mode for Cash or Credit sales. Cash Sales are the sales which are fully paid at the time of creating the invoice. The Credit Sales are sales which remain unpaid or partly paid at the time of creating the invoice. In general category sales the further categories are made as per the VAT (Value Added tax) Liabilities after the sales is made. These categories are Sales against 'D' Form ( These sales are made to the government and no tax is chargeable ), Interstate Sales ( These sales are made out of the state and no Local Tax is chargeable while the Central Sales tax is charged) and Tax Free Sales (sales for which no VAT (Value Added tax) or central sales tax is chargeable. Cash and Credit Sales are taxable if they are made using cash and credit memo. Normally a business organisation may need only the option cash and credit memo. To make sales of any other type create the appropriate memo.
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