FAQ
Module 1 - Banking
COMPONENTS | INSTRUCTIONAL GUIDE LINK |
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Module 2 - Vendor Bills
COMPONENTS | INSTRUCTIONAL GUIDE/DEMO LINK |
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Module 3 – Client Invoicing
COMPONENTS | INSTRUCTIONAL GUIDE LINK |
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Module 4 – Banking & Accounting
COMPONENTS | INSTRUCTIONAL GUIDE LINK |
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Best practices
Best Practices | Reasoning |
Invoicing Job sheets and invoices are sent together | This practice ensures clarity and transparency for the client. By providing both documents simultaneously, clients can easily cross-reference the work completed with the corresponding invoice, reducing confusion and potential disputes. |
Invoicing Trading terms set to COD with card on file | Where possible, COD minimises the risk of non-payment and ensures steady cashflow. |
Invoicing Invoicing within 24-48 hours of job completion | The reason for this is that stock decrements are posted to LightSpeed at the time of generating invoices, not when products are added to a job. Therefore, FPs who have a slow approval process where the invoice goes to the office for checking before it's sent to the client will have a delay in inventory accuracy. By progressing the jobs to invoices imminently, you ensure accurate stock management and prevent any discrepancies in inventory tracking. |
Adding a client Minimum client details obtained: Name, postcode plus an additional identifier (phone or email address) | Collecting essential client information such as name, postcode, and contact details (phone or email address) establishes a foundation for effective communication and client support. These details serve as valuable identifiers for client management and facilitate outreach for promotional activities or service reminders. |
Storing credit card details All CC details held within compliant PCI system | Adhering to PCI standards ensures the security and confidentiality of sensitive payment information. Storing credit card details within a compliant system reduces the risk of data breaches and safeguards client trust and loyalty. |
Obtaining credit card details When obtaining credit card details, you must obtain a signed credit card authorisation form | When obtaining credit card details, it's imperative to secure a signed credit card authorization form from the cardholder. This form serves as a legally binding agreement between the cardholder and your business, authorising the use of the credit card for payment purposes. By obtaining this authorization in writing, you mitigate the risk of disputes or unauthorised charges, ensuring compliance with payment card industry regulations and enhancing security for both parties involved. Additionally, the authorization form provides clarity regarding the terms of payment, including any applicable fees, cancellation policies, or recurring charges, thereby promoting transparency and client trust. Overall, requiring a signed credit card authorization form safeguards against potential liabilities and facilitates smooth transactions, while also demonstrating a commitment to ethical and secure payment practices. |
Credit card authorisation handling and storage Upon obtaining the signed authorization form, it is imperative to promptly input the credit card details into Vital's secure system for processing. Subsequently, the bottom section of the credit card authorization form, containing sensitive information, should be securely shredded to prevent unauthorised access. Meanwhile, the sanitized authorization form must be uploaded to the client's record in Vital for future reference. | Once a signed credit card authorization form is obtained, it's imperative to handle and store the credit card details securely and in compliance with data protection regulations. The authorized credit card details must be entered into Vital's secure system for processing payments. Subsequently, the bottom portion of the credit card authorization form, containing sensitive information such as the card number, should be securely shredded to prevent unauthorised access or misuse. |
Suppliers Minimum Supplier information obtained/entered | |
Chart of Accounts Maintain the Master Chart of Accounts Set by PSC Finance Team | Adhering to the master chart of accounts established by the PSC Finance Team ensures consistency and uniformity in financial reporting across the network. Any requests for additional charts will undergo review and authorisation by the Finance Management Team to uphold integrity and accuracy in financial record-keeping. This centralised approach promotes standardised accounting practices, facilitates effective financial analysis, and ensures compliance with regulatory requirements. Additionally, it minimises the risk of errors or discrepancies in financial reporting, contributing to the overall financial stability and transparency of the Poolwerx network. |
Job sheets and invoices are sent together | This practice ensures clarity and transparency for the client. By providing both documents simultaneously, clients can easily cross-reference the work completed with the corresponding invoice, reducing confusion and potential disputes. |
Add bill into Xero Attach the bill (Xero App to upload the photo or unique email account to get into to the library) for audit purposes |