A. Characteristics of Trade Company
Trading company is a company whose main business is buying goods for the purpose of sale without reprocessing. In the event of processing is usually limited to the packaging or the provision of specialized packaging for goods more attractive. Trading companies can be divided into wholesalers and small traders. Basanya wholesalers buy goods directly from factories producing these goods. While small traders (retailers) to purchase goods from wholesalers for resale to consumers directly with the retail price.
The process of recording transactions in principle the same trading company with the listing process performed on the company's services. Only in a trading company needed the additional accounts and certain procedures relating to the purchase and sale of merchandise.
One karasteristik listing on the trading company is the calculation of cost of goods sold. Cost of goods sold is the amount applied by the company until the acquisition cost of goods ready for sale.
To calculate the cost of goods sold required records relating to the purchase, transportation costs, purchase returns and price reductions, discounts purchases, merchandise inventory beginning of the period, as well as end of period inventory.
Given the da karasteristik the special accounts are needed, then pmbuatan company's financial statements will be different from merchant services company report. There are clear differences in the income statement, considering that the calculations contained therein cost of goods sold, while the other financial statements, ie balance sheet and statement of changes in capital is almost the same as the accounting services firm.
Trading company activities include:
a. Purchase goods for resale without changing shape.
b. Traded goods are tangible physical
c. Basic income in the form of sales
d. A staple of the cost of goods sold (Cost of good sold)
Operation of trading companies as follows:
a. purchase
b. payment
c. sale
d. receipt of goods
Basically a trading company has the following main activities which include buying, selling merchandise, receipts, and disbursements. In this trading activity, not out of the following conditions:
a. payment terms
b. delivery terms
Payment Terms trading company in the transaction
Buy and sell, especially for payments made on credit, payment terms at a time when that would come to be defined clearly so that both sides know some of the amount to be paid and when payment must be made.
Payment terms closely related to the provision of pieces that can be divided into:
a. Cut Cash
Cut Cash (cash discount) is a piece provided by the seller to the buyer in connection with payments made eligible cash discount has been determined. While the credit period is the grace period given by the seller to the buyer to make payment.
Pieces and the credit period must be stated in the invoice, for example, 2/10, n/30 means pmbeli will receive 2% discount if payment is made no later than 10 days of account after the date of the transaction.
While the nominal loan period (n) given is 30 days.
Example:
Dated March 4, 2012, CV Prosperous merchandise sold for Rp. 200,000.00 with terms 2/10, n/30.
This means, CV Prosperity will mmberi discount to buyers of Rp. 4000.00 (2% x 200,000.00), if payment is made no later than 14 March 2012. later than the date the buyer does not get cut and the purchaser must pay the amount of Rp. 200,000.00 until April 3.
b. Quantity of pieces
Quality pieces (Quantity discounts) is granted if the number of pieces of the goods purchased are qualified in quantity discounts. So in this case if the greater number of purchases, the lower the One Price.
In addition to the above terms, there is still no agreement the buyer and seller which is a condition of payment, the End of Mount (EOM), which are divided into:
A. EOM payment terms, meaning that the net invoice price must be paid no later than the end of the sale. In this case, the seller does not give discount to the buyer.
On 5 April 2012 is to purchase merchandise for Rp. 100,000.00 on condition of EOM. This means, the buyer must pay the net invoice price no later than 30 April 2012, without a discount.
B. payment terms n / 5, EOM, meaning that the net invoice price must be paid no later than 5 days after the end of the month without a discount.
On 11 May 2012 made the purchase of merchandise for Rp. 300,000.00 provided that n / 5, EOM. This means, the buyer must pay the invoice price no later than the 5th of June 2012 without a discount.