Clarifying expenditure and revenue items, distinguishing between fixed and variable costs.
Clarifying expenditure and revenue items, distinguishing between fixed and variable costs. Executing invoicing operations, posting amounts to relevant accounts, reconciling transactions with account statements, and disbursing items on behalf of the organisation to be recovered in the invoicing process.
Course Content
- A definition of expenditure is provided in the context of freight forwarding and customs clearing
- A definition of revenue is provided in the context of freight forwarding and customs clearing
- The difference between expenditure and revenue is explained as they apply to freight forwarding
- Fixed cost is defined with examples
- Variable cost is defined with examples
- Three examples are provided where fixed costs could happen
- Examples are provided where variable costs could be confused as fixed costs
- The consequences of a variable cost being confused as a fixed cost are explained with examples
- An invoice is prepared which has items of expenditure and items revenue for a sea freight shipment for a full container load and import which has paid customs duty, duty schedule, and the ocean freight is on a collect basis
- An invoice is prepared for an air freight export shipment which has items of expenditure and items of revenue where the master airway bill is collected, insurance must be invoiced as well as cartage collection charges
- The expenditure items must be posted to the appropriate accounts for both the sea freight and airfreight invoices
- A record is made up of the over-recoveries of the items of expenditure which must later be taken to profit
- Ocean freight or air freight is identified as items of the organisations’ invoices
- Cartage is identified as an item of the company’s invoices and statements from the transporter taking into account all over-and-under recoveries
- All landside and surface charges are identified including port authority charges, airline charges, depot charges and carrier’s handling
- All customs and charges are identified and reconciled with bills of entries, statements and deferment accounts
- Other disbursements charges are identified and reconciled with invoices from those parties taking into account all over-and-under recoveries
- Supplementary charges from outside parties are identified and reconciled to the organisation’s invoice, taking into account all over-and-under recoveries
- Supplementary invoices are disbursed by the organisation and account for all disbursement items which have been invoiced
- Reconciliation is made between the invoices and statement of accounts
- Cartage charges as disbursed by the organisation, are identified and posted to the cartage disbursement account
- Storage charges as disbursed by the organisation, are identified and posted to the storage disbursement account
- All special charges such as extra attendance as disbursed by the organisation are identified and posted to the disbursement accounts
- Non-accredited: Short course only
- Duration: 1h 05m
- Delivery: Classroom/Online/Blended
- Access Period: 12 Months
