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The handling and controlling Creditors’ Accounts


The least expensive form of financing of a business is the Creditors of the business. The reason for this is the fact that most creditors don’t charge interest on the outstanding amount of their customers’ accounts. However, the most common mistake made by most managers, is to employ unskilled workers to handle this vital source of finance – with the result that the benefits are lost.

To equip learners to utilise electronic creditors’ programs and to understand the process of recording and handling creditors’ accounts, this course firstly exposes learners to the manual control of the accounts. Once the manual system is mastered, learners will be able to understand and maximise the use of computerised systems.

Outcomes Based Expectation

On completion of this course, learners will:

Recognise various classes of creditors of a company;
Know and understand the documentation, filing and methods of recording used in the control of creditors’ accounts;
Know and understand the preparation and use of a Purchases Journal;
Know and understand the principles of accruing for outstanding accounts;
Know and understand the recording and calculation of goods in transit;
Know and understand the recording and calculation of Value Added Tax, and
Be able to reconcile creditors’ accounts.

Course Content

Types of Creditors
     Suppliers of Raw Materials
     Suppliers of essential requirements
     Suppliers of Overheads
     Suppliers of Stocks for re-sale
     Financiers
Sources of Creditors
     Services
     Buying Department
     Leases / Rentals
     Maintenance
Documentation
     Purchase Requisition
     Purchase Order
     Goods Received Voucher
     Delivery Note
     Invoice
     Credit Note
     Claims Advice
     Statement
        Open Item
        Balance brought Forward
     Cheque Requisition
The processing of orders
     Orders placed – not yet delivered
     Orders received not yet invoiced
     Accruals
The Purchases Journal or Purchases Day Book
     Manual system
     Various Mechanical Systems
     Electronic Systems
The Payments Cash Book
Remittance Advice
Submission of Claims
Discounts and deductions
Accounting for Value added Tax
Accounting for Goods in Transit
Reconciliation of Creditors’ Accounts
     Debit Notes
     Credit Notes
     Journals
Reconciliation of Bank Accounts
Reconciliation of Control Accounts
Terms of Payment
     End of Month Terms
     Open Account Terms
     Consignment Stock
     Floor Plan

Practical exercises are given to ensure that the subject taught is correctly utilised, as envisaged by the Outcomes-based Expectation requirement of the National Qualification Framework and the South African Qualification Authority.

Accreditation

This course and its notes and contents, is accredited by the International Institute of Credit Management (Africa). Learners submit assignments which will be marked and evaluated. Learners must obtain at least 50% for all assignments to qualify for the Handling Creditrs Accounts certificate.

Course facilitator

Christine Jordaan was born and raised in the Republic of South African. Christine initially obtained a B.A degree.

She studied and obtained the master’s Degrees in business leadership and Diploma in Credit Management and several other financial disciplines. She is a Fellows of the South African and African Institutes of Credit Management and the Principal of PBS College.

She has presented various public and in-house training courses throughout South Africa, Namibia and neighbouring countries, to several large corporations and Government Institutions. They are currently actively presenting courses (both face-to-face and correspondence) in the certificate in Credit Management of the Institute of Credit Management since 1981.

She has been contracted to present correspondence courses in Credit Management disciplines to UNISA and also lectured at UNISA summer schools. She has also act as guest lecturers at several colleges and universities in Credit Management and has facilitated and organised various seminars for large corporations.

She was appointed members of the National Credit Education Forum since 1997 and is a past director on the board of the Association of Debt Recovery Agents. She is presently the chairperson of the Institute of Credit Management (Africa).

She has lectured extensively since 1981.

Registration Form - Skills Courses

Please complete the form below. If you have any questions please contact us on +27 11 781 9727 or pbs@pbscollege.com
Once we’ve received your application and your payment has cleared, we’ll send you a confirmation letter and course material, as well as any other relevent information.

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I, the learner, hereby accept and agree that:

  • I am signing this contract with the knowledge and consent of my natural guardian (if applicable)
  • Submission of this registration form constitutes an agreement that binds me to attend and pay for the course/courses as indicated above.
  • Monthly payments are due by the 1st working day of each month.
  • Registration fees are not refundable, but will be deducted from course fees.
  • Interest will be charged on overdue accounts, at prime plus 2 % as stipulated by ABSA Bank.
  • Either party may cancel this agreement within 4 weeks of registration date on the condition that no material has been sent. The moment material is made available to the learner, this agreement stands. If the learner cancels, he/she is liable for one month’s payments, irrespective of the date of cancellation. Any cancellation after the four week period will incur the full course fee
  • In the event of non-payment of any amount due and payable on the due date, PBS, in addition to any other remedies it may have in terms of this agreement or under law, may:
  • Terminate this agreement without notice and keep all amounts already paid, and/or
  • Claim mages (which may include immediate payment of all arrear payments) and/or
  • Suspend the learner for non-payment, and/or
  • Claim the full amount of the contract, which amount shall become immediately due and payable.
  • All fees to be paid in full before examination entry will be granted.
  • I consent to the jurisdiction in terms of section 45 of the Act that an legal proceeding arising from this agreement may be instituted in the Magistrates Court of any district with jurisdiction in terms of section 28 of the Act.
  • Should legal action be instituted, any legal costs incurred by PBS shall be Bourne by me on the attorney/client scale
  • I choose as my domicillium citandi et executandi the address set out above
  • I hereby declare the above information to be true and accurate, and enrol as a student of PBS College (Pty) Ltd. I understand that I need to pay or make arrangements to pay all fees for my studies prior to receiving my study material.

I, the sponsor, hereby accept and agree that:

  • All the terms and conditions of the agreement between the learner and PBS shall mutatis mutandis be binding on me
  • In addition thereto I hereby bind myself as surety and co-principal debtor for the learner in favour of PBS for the payment of al sums of money with the learner may now, or in the future become indebted to PBS arising for whatsoever cause.
  • I further confirm that I am/am not married in community of property

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