Glossary
Credit sale
A credit sale is when the customer takes the goods today and pays later, so the amount is recorded as a debt in his statement.
What it means for a shop owner
It lifts sales and wins loyal customers, but it ties your cash up with other people. Give each customer a limit and a due date, and review the statement often so the debt does not turn into a forgotten notebook.
A worked example
You sell 300 to a customer who will pay in 15 days. 300 shows as a receivable until he pays, and if he pays 100 of it, 200 is still owed.
Related
Try it in your shop, free, no card.
The free plan: the whole shop for one branch, an offline cashier with stock, debts and accounting, with a daily limit on invoices, expenses and purchase orders. What it includes