Meet Samantha
From executive positions to entrepreneurship, Samantha is
well-rounded. A certified Leadership Mentor and Coach for youth and adults,
a long-standing juvenile advocate, and consultant to nonprofits and small
businesses nationally.
- • Organizational Excellence
- • Building Collaborative Relationships
- • Operations Management
- • Forward Thinking
- • Youth advocacy
- • Technical Expertise
- • Conflict Resolution
- • Nonprofit Board Development
- • Business Strategies
- • Governor appointee to Florida Department of
Juvenile
Justice Prevention State Advisory Group
- • Top 20 Professionals Under 40 in Tallahassee -
Authentic Community Engagement Award - 2020
- • Tallahassee African American History
Calendar Award -
2019
- CEO, Connecting Everyone with Second Chances (July 2021-present)
- Lead Consultant, CEO, impact Core Group, Nationwide
(2019-present)
- Executive Director, Ladies Learning
to Lead “L3”, Tallahassee, FL (2010 – present) Part
time
- Executive Operations/IT Manager,
Florida Health Care Association, Tallahassee, FL
(2010-2016)
- CEO, SACS Group Consultant, SACS Group, LLC,
Nationwide (2008-2010)
- Operations Supervisor, California
State University East Bay, Hayward, CA
(2007-2008)
- Financial Project Manager,
Alliant International University, San Francisco, CA
(2004-2007)
-
Additional 5 years of experience in IT with the
Environmental Protection Agency, and City of Las Vegas.
- • B.S. in Political Science, minor
in Public Administration, Florida State University,
2011
- • A.A. in Business Management,
Tallahassee Community College, 2009
- • 12 college credits in computer
science courses, 2001
- • Certificate, Nonprofit Executive
Program, Florida State University Jim Moran
Institute, 2017
- • Youth Leadership Mentoring Coach Certification,
Youth Coaching Institute, 2021
- • Google Certifications:
-Ads Certification
-Cloud Certification
-Analytics Certification
-Marketing Platform Certification
-Campaign Manager Certification
Find a way to do the work that glows on your face, keeps no record of time, and
makes the world a better place.
- Samantha Vance
Clients
Samantha has a proven ability to build and lead teams and smoothly manage operations.
The Sales Journal has been a great every-day journal working as an SDR/EDR. I think every little bit of the journal is useful, from the call counter to the daily motivational quotes (much needed on Mondays). Leaving the office on that note can hurt confidence and motivation. There’s always a silver lining to every day, even the worst of them. Taking the time to think about the good and writing it down will keep you in a positive frame of mind to start fresh the next day.
Financial Accounting
- In the above example, 400 is posted to the ledger account of customer BCD, 150 to customer KLM, and 350 to customer PQR.
- If the payment is made in cash, the column becomes the sales column, but when it is paid on credit, the column becomes account receivables.
- Therefore, a sales discount account is a contra account against sales.
- We must also record the cost of goods sold in the perpetual inventory system and the inventory reduction.
- In new accounting software, both functions of this column are happening simultaneously.
So, if a client wants to return the product the invoice number can be matched with the invoice number in the sales journal. Usually, the seller records the sales discount in a separate account. Therefore, a sales discount account is a contra account against sales. While the payment is due at the end of the same month as the month of sale, the terms are written as n/eom (end-of-month). To encourage the buyer to pay before the due date, the seller usually offers a discount.
Record the transaction in the sales journal
This system, known as the accounting system, has evolved into what is commonly referred to as the accounting cycle. Some businesses keep a different purchase and sale journal, while some journals keep the record of purchases and sales in the same journal. In new accounting software, both functions of this column are happening simultaneously. The warehouses are updated constantly, so there is no delay and the company does not run out of product when clients are asking for it.
If ever some issue arises in the sale or delivery of the product to the client, the post reference entries help track the specific order and client. The sales invoice number is mentioned in the third column as shown in figure 1. A copy of the sale invoice is also generated and handed down to the customer. The identification number mentioned in the invoice allows for helping track down that particular sale. An item can be returned to the seller, which is a sales return. In addition, for reasons of damaged goods, defects or other reasons, the seller can reduce the price of the goods / provide sales discounts (sales allowance).
Each column serves a specific purpose, from tracking dates and invoice numbers to monitoring credit terms and payment status. This structured approach facilitates monthly totaling and posting to the general ledger. The sales journal recording process follows a systematic approach. Learn how to record transactions accurately and maintain proper documentation. Start implementing these practices to improve your financial record-keeping.
- The sales journal concept is mostly confined to manual accounting systems; it is not always used in computerized accounting systems, where there is less need for subsidiary-level journals.
- Businesses issue credit memos for these transactions, which reduce accounts receivable and adjust inventory and cost of goods sold.
- Built to simplify complex financial processes, it enables Malaysian enterprises to maintain seamless records, track receivables, and generate accurate reports with minimal effort.
- HashMicro is Singapore’s ERP solution provider with the most complete software suite for various industries, customizable to unique needs of any business.
- So, whether sales are credit or debit depends upon whether sales are made or products are returned.
HashMicro is Malaysia’s ERP solution provider with the most complete software the sales journal suite for various industries, customizable to unique needs of any business. So, when a particular product’s amount goes down, the warehouse is notified of it, and they put more purchase orders for that particular. By mentioning the date, we can easily track when that particular good was sold. This allows the company to track the dates on which the goods were sold.
Sales Journal Types, Format, and Examples Unpacked
On a regular (usually daily) basis, the line items in the sales journal are used to update each customer account in the accounts receivable ledger. In the above example, 400 is posted to the ledger account of customer BCD, 150 to customer KLM, and 350 to customer PQR. When posting to the accounts receivable ledger, a reference to the relevant page of the journal would be included. Knowing the types of sales journals is key to managing your sales effectively.
Sales discount journal
The seller usually makes a credit memo or credit memorandum for the buyer who makes the return. This memo shows the amount and reason for the seller’s credit in the accounts receivable account, which accounts receivable in the event of a credit sale means that the amount gets a reduce. Fourthly, at the end of each reporting period, carefully total the columns in the sales journal, such as Accounts Receivable and Sales.
However, many businesses still use the sales daybook to record cash sales as well. Following best practices in sales journal maintenance includes proper documentation, timely entries, and regular backups. Training staff on correct procedures and maintaining clear audit trails supports accurate financial reporting. These practices form the foundation of sound credit sales management. Proper integration of your sales journal with the general ledger streamlines the month-end closing process.
The sales journal, sometimes referred to as the sales day-book, is a special journal used to record credit sales. The sales journal is simply a chronological list of the sales invoices and is used to save time, avoid cluttering the general ledger with too much detail, and to allow for segregation of duties. That’s where a daybook combined with modern accounting software becomes a game-changer.
PRODUCT DETAILS
The risk of selling on credit is in the notes receivable and notes payable journals. A sales journal is a particular journal for an accounting cycle whose job is to record sales transactions. In addition, we can use special journals to record and post to accounts for computerization.
If you apply any discounts, returns, or allowances, adjust the records accordingly by creating the proper journal entries, such as those in the sales returns journal. This step helps maintain accurate and reliable financial records. This type of special journal focuses mainly on credit sales, excluding cash sales, which are typically recorded in the cash receipts journal.
The general journal is the all-purpose journal that all transactions are recorded in. Since all transactions are recorded in the general journal, it can be extremely large and make finding information about specific transactions difficult. That is why the general journal is divided up into smaller journals like the sales journal, cash receipts journal, and purchases journal. The name of the four sales journals is sales journals, cash receipt journals, purchase journals, and Cash Payments journals. For example, cash receipt journals are used by merchant businesses to record cash receipt transactions.
