but are normally recorded under a single account title in a company's accounting records. Defective or damaged merchandise returned by customers is classified as sales returns. Sales allowances are given when the customer agrees not to return the merchandise in exchange for a price discount. ...
According to AccountingTools, the sales allowance definition is a cut in price between the time you bill the buyer and the time you receive the payment. It's a way to keep customers happy when they have complaints but don't want to return the goods. Sometimes the problem is that you bil...
A sales receipt is a document that's given to a customer to act as a record that he or she has bought and paid for something...
A sales cycle is the collection of sequential stages sales reps follow when converting a prospect into a customer. Think of it like the structure of a deal — the building blocks, like lead qualification and sales calls, that need to be stacked in a specific order so it’s possible to dr...
In addition, there is also what’s known asa tax refund, which is the government’s return of excess taxes to taxpayers. Refund – example A customer who bought an item of clothing may ask the store for their money back if it didn’t fit. ...
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A sales pipeline is a visual representation of where all of your prospects are in the sales process. This allows you to gauge likely revenue and determine the health of your business. It provides a snapshot of the health of your business. After all, you can’t manage what you don’t me...
Guides The Shopify Podcast Founder Stories Ecommerce Business Tips See All topics Enterprise Blog Start your online business today. For free. Start free trial To build an effective sales funnel, you need to understand your customers, their behaviors, and their needs at each stage of the funnel....
(The supplier/seller will record the return with a debit to Sales Returns and a credit toAccounts Receivable.) Thecredit balancein the Purchase Returns account will partially offset thedebit balancein the account Purchases. Since the return of purchased merchandise is time consuming (and therefore ...
Actual return is also used to describe the performance of a company’s pension plan assets. In this case, it is referred to as “actual return on plan assets.” The actual return is compared to the expected return. The formula for computing actual return for pension plan assets is: ...