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Buying-Selling Process and Documents

The buying and selling process involves several stages from placing an order to delivering goods and issuing invoices. It requires qualified staff across functions and organized documentation. The key stages are: 1) Receiving the order via methods like phone, fax, or letter. 2) Delivering the goods to the buyer who verifies the order and signs a delivery note. 3) Issuing an invoice detailing the goods sold and prices to support the transaction. Relevant documents include inquiry letters, quotations, orders, advice notes, invoices, credit notes, debit notes, and statements. Proper documentation and organization is needed to track the process.

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3K views3 pages

Buying-Selling Process and Documents

The buying and selling process involves several stages from placing an order to delivering goods and issuing invoices. It requires qualified staff across functions and organized documentation. The key stages are: 1) Receiving the order via methods like phone, fax, or letter. 2) Delivering the goods to the buyer who verifies the order and signs a delivery note. 3) Issuing an invoice detailing the goods sold and prices to support the transaction. Relevant documents include inquiry letters, quotations, orders, advice notes, invoices, credit notes, debit notes, and statements. Proper documentation and organization is needed to track the process.

Uploaded by

jontxu86
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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BUYING-SELLING PROCESS

As every process of purchasing, we could say that every selling process is not an easy
task, since it includes a whole development of some stages, from the taking of the order
by the company up to the delivery of the goods, including the series of operations that
have to be made in the process, as well as the elaboration of all the necessary documents
in order to achieve a good result in the process.
All the process needs qualified and specialized people in each function, which cannot be
carried out without their intervention. But apart from this, the company needs
organization, an exhaustive control, and a suitable classification and organization of the
documents generated during the process, in order to have an easy access to the
information generated in the realized operations.
1.- PROCESS OF DEALING
When we talk about the process of dealing of a company we refer to the whole process,
since a client requests certain goods to the company until they are server, delivered and
paid, including, at the same time, the accounting and recording of the originated
documentation.
1.1 THE ORDER
The process of purchasing begins generally when the warehouse of the company
observes that there is no stock of a product or these are scanty.
The buyer has to define what she or he wants to ask, in order that the selling
company sends him/her the goods as easy and soon as possible. In order that the
process of dealing begins it is necessary to place an order
1.2. STAGES OF THE PROCESS OF DEALING
It is possible to say that the selling process begins with the order and includes
the following phases or steps:
- Receipt of the order.
- Sending or delivery of the goods to the client.
- Preparation of the invoice and its collection.
- Recording and filing of the operation.

1.3 THE RECEIPT OF THE ORDER


Once the buyer and seller have reached an agreement, the buyer issues an order
giving details of the purchasing to the seller.
There are several ways of receiving the order: telephone, fax, commercial letter,
visiting the client personally
1.4 SENDING OR DELIVERY OF THE GOODS
Once the goods have reached the destination, the buyer verifies that everything
is correct and that coincides with the requested order. This one also signs a
document to the person who delivers the goods, expressing this way that he/she
agrees with the realized operation. Both the buyer and the seller remain with a
copy of the accepted document.
The buyer later examines the goods that he/she has received in detail in order to
ensure that they have not received any damage or deterioration during the
delivery. If so, he/she will have to present a claim. Therefore, when we talk
about sending or delivery of goods, the document called delivery note is going
to be originated.
1.5.- ELABORATION OF THE INVOICE AND LATER COLLECTION.
Whereas the delivery note is a justification document of the delivery of the
goods, the invoice is a document supporting that the operation has been realized.
In the invoice, the seller details all the information that the operation of dealing
has originated, indicating among other things, all the goods sold, the price, the
services provided to the client, etc.

DOCUMENTS INVOLVED IN BUYING-SELLING PROCESS


Inquiry letter: The letter sent to the potential supplier asking questions about its
products in order to get information about them.
Quotation: Written statement of exactly how much money the product will cost.
Order: A request by a customer for a company to supply goods.
Advice note: a document sent by a supplier to a customer to inform him that
goods he ordered have been dispatched. It usually gives details such as the
quantity of goods and how they have been sent
Invoice: a detailed bill for goods sold or services provided, containing
individual prices, the total charge, and the terms.

Credit note: A credit note is a document issued in various situations to correct a


mistake, such as when the buyer has been overcharged, correct discount rate is
not applied, goods are returned because they are damaged...
Debit note: a written record showing that a customer owes money to a company
Statement: Chronological summary of all transactions associated with an
account during a stated period.

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