Recognition of sales and condition for paying commission

Memorandum Circular

Subject:   Recognition of Sales and when commission is to be paid

Objective:

1.  So that our SBU would understand why they need to submit PPA on time

2.  So that we will bring to 0 our backlog for documents;

3.  To bring to 0 customer complaints on documents

Reality:

1. In the current Hataw:

    1.  Of the 400+ declared hataw sales only about 50 were submitted initially in HGGMP;  for Hg Pangasinan, of the 900 or so declared, only 100 PPA were sent, and after much prodding and follow up;

   2. There were double sales because the SD had booklets of PPA with them, and they were not able to control the sales;

   3.  And yet all the sellers received their commission.

This is the reason why we cant have year long outright com, or year long hataw.

WHAT:

1.  Ordinarily we recognize sales when  (and let us look at our chart of accounts)

        1.  There is a contract that is signed and witnessed;

        2.  There is a 20% down payment

This is in accordance with obligation and contract there should be an agreement and consideration.

2.   Thus if there is money received but no contract, there is no sales

3.  No sales, no commission to be paid yet, as we ordinarily do in 1.

4.  It is thus anomalous that we pay out commission for sales that do not exist.

LET THE SBUS BE PROPERLY WARNED. (And the sellers too.  They are equally to be blamed for:

       1.  double sales

       2.  missing documents

       for which the SBUs and the 3ffb are blamed and harassed.

ACTION PLAN:

     The ppa must be received by 3ffb in 7 days otherwise we will disallow outright;  we will pay the outright only after we receive the PPA

Jorge  U. Saguinsin

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