Delegated Staff:

Credit Controllers, Financial Manager, Credit Control Supervisor, Managers & Directors.

DEBITS

Debit notes to be listed on a One Sided Journal or Two Sided Journal list. To be captured by Credit Controller on the AS400, providing all supporting documentation. Use correct Product and Reason Codes.
 

Transaction number to be written on journal and given to the Credit Control Supervisor with the documentation for authorisation and to be released on the AS400.
 

The Credit Control Supervisor does the re-allocations from one account to another, only if the supporting documentation as per list given below, is attached.
 

All debits and credits cancelling out are to be done by the Credit Control Supervisor and they must be listed with all transaction numbers on a Two Sided Journal list.
 

Should the Credit Control Supervisor or the Directors reject any processed debit note, the Credit Control Supervisor will delete the debit note from the AS400. The Credit Control Supervisor will make a written note on the documentation for the reason of rejection.
 

Rejected debit notes are to be filed in the debit note file.
 

Retention period for all source documents in archive will be five (5) years before it is destroyed.
 

SUPPORTING DOCUMENTATION.

AS400 report reflecting transaction to be corrected on Debtors account.
 

AS400 report reflecting Debtors account balance.
 

Copy of cheque requisition reflecting cheque numbers and amount if refunded to Debtor.
 

Copy of cheque and advise note from bank if cheque was "REFER TO DRAWER".
 

Copy of Multi Data report in case of "DEBIT ORDER NOT HONOURED".
 

Any other documents, letter, and etc. as proof that debit needs to be processed on AS400.
 

CREDITS

Credit Controller complete the pre-numbered, manual credit note book. A Credit Note is then processed on the AS400, referring to the manual credit note number. Use correct product- and reason codes. All supporting documentation is attached to manual credit note at all times.
 

When capturing a credit note pertaining to Interest and Trade Discount, Interest & Trade Discount Reversals List is to be completed.
 

Manual credit notes are given to the Credit Control Supervisor for authorization and to be released on the AS400.
 

All Credit Notes to be authorised by the Financial Manager & Director.
 

Credit Controllers will give all re-allocations to the Credit Control Supervisor to do after credit notes have been released.
 

Should the Credit Control Supervisor or the Directors reject any processed credit note, the Credit Control Supervisor  will delete the credit note from the AS400. The Credit Control Supervisor will make a written note on the documentation for the reason of rejection.
 

Rejected credit notes are to be filed in the credit note file.
 

SUPPORTING DOCUMENTATION

AS400 report reflecting transaction to be corrected on Debtors account.
 

AS400 report reflecting Debtors account balance
 

Any other documentation and letters that serves as proof for the credit note to be processed on the AS400.