Small sized logistics companies

Sharing Knowledge can increase sales, improve service quality and customer satisfaction, save processing time, avoid risk and save operating costs of your company
It can be flexible in the form of training and part time financial controller working for company under hourly rate for contracted period
It is affordable by small to medium logistics company instead of paying an experienced financial controller or senior manager
The benefits greatly exceed the costs
The benefit is long term and sustainable

Multi-currency, changing exchange rate and payers in different countries under different jurisdiction
Seasonal price & CAF, Bunker results in frequent change in quotes, late billing, frequent amendment on invoices, issue of debit note and credit note, supplementary invoice
Voluminous transactions
Integrated logistics service and charges
Incoterms is necessary to identify billing party
COD term for new customers
Payment and collection on behalf of others
Set off against AR and AP
Intercompany and Agent reconciliation
Summary invoice and Interfacing transactions among customers and vendors
Frequent review on credit limit especially overseas agent
Multi billing and payment location
Tax invoices in China
Revenue recognition is difficult due to different incoterm, import & export, integrated services

Audit on payment is difficult due to voluminous transaction, integrated services and seasonal price and different Incoterms
On time payment is necessary to ensure the reliability supply of cargo space
Late billing or debit note or credit note by agent is common
TT payment to agent in overseas
Dispute and transactions need clarification is common
Payment should be checked against billing to avoid omission of billing
Payment should be processed after netting of Accounts Receivable
Tax invoices is necessary before payment in China

56ACC limited