The transaction is recorded and archived into your general ledger. When payment is received it is matched with the open invoice and the invoice is marked as closed and reconciled to cash. If not, the invoice goes to a collections person, department, or service to remind the customer that payment is due. Ideally, the customer pays the invoice within the allotted timeframe. The finance department generates an invoice and delivers it either physically (by postal mail) or electronically (via email). Post-delivery, the system transmits the order to the finance department. When the shipment is ready, the shipping department passes it to the appropriate carrier service for delivery to the customer. The product is then pulled, packed, and prepared for shipment. When the customer’s credit is approved, the order is sent to your shipping department. The customer should be informed of any potential shipping delays. If insufficient inventory is on hand, orders must be placed for additional inventory if available. Order FulfillmentĮither after or during the credit management process, there is an inventory check to ensure the order can be filled. Assuming the customer is not paying cash up front, the credit department conducts a thorough review of the customer’s credit and accesses the ability of the customer to pay for the order. Once the system enters an order, it sends it to your company’s credit department. ![]() ![]() ![]() At this point, the order is entered manually or automatically into your system. The OTC process begins when a customer places an order- typically through your company’s sales department. From that point on the two processes are identical. Because of the unique aspects of B2B transactions, QTC adds configuration, quoting, and pricing to the front end of the OTC process before order placement. The order-to-cash process used in B2C transactions is subtly different from the similar quote-to-cash (QTC) process which is more typical in B2B transactions.
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