Why do you need a Daily Sales Collection?
Daily Sales collection is crucial because it helps you collect debts before they become overdue, improving cash flow and identifying any trends in late payments. Unlike a general sales report, the Daily Sales Collection report gives you a clear picture of how much money you're actually receiving from past sales, keeping your business financially healthy.
Here is how you monitor the status of your Daily Sales Collection.
1. First create a Sale Invoice, if you have no idea how to, you may click here ;
2. Click Report and go to View More
3. Find Daily Sales Collection and click on Daily Sales Collection
4. You have arrived in your daily sales collection
Your Daily Sales Collection report acts like a daily cash register for past sales. It focuses on incoming payments, not just total sales. Imagine you run a bakery. Yesterday, Fairuz sold $100 worth of bread to Bryan with a due date today
The report shows this unpaid amount with details like salesperson (Fairuz), payee (Bryan), and the outstanding balance ($100). Armed with this information, you can prioritize collections by perhaps calling Bryan with a friendly reminder or offering different payment options.
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