Accounts Receivable

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  • Published : December 13, 2012
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Background of the Project
The company was founded on February 11, 2009 with the Mission: To change the riding culture of a sports motorcycle enthusiast, and Vision: To become the number one sports motorcycle distributor in the country. With Filipino sports motorcycle enthusiasts’ desire and with VAMA’s realization, the company is using its engineering skills to make sports motorcycles reachable and affordable for everybody. Inspired by its Mission and Vision and supported by its engineering profession, VAMA is collaborating with international manufacturers to come up with reliable, efficient and durable sports motorcycles. This gives birth to Phoenix Junior Sports bikes. The phoenix junior sports motorcycle is equipped with a power rating from 125cc to 200cc, single cylinder 4 stroke engine which made major sales in the Philippines. After two years of operation, the demand of VAMA’s customers evolve from junior sports bikes to full size branded sports bikes which let the company collaborate again with international manufacturers, including Japan, the number one branded motorcycle manufacturer. VAMA Motors is the only company in the Philippines who is retrofitting branded sports bikes such as Honda, Yamaha, Suzuki and Kawasaki from Japan which replicates the latest models. The company currently has three systems: debit/credit system, website, and accounts receivable system. The debit/credit system and the website are already automated while the accounts receivable system is currently manual. The debit/credit system records all the expenses of the company, may it be capitalization expense or daily operating expense. It also records the sales from the job orders. The website simply advertises the company’s sold units and shows the company site map. The accounts receivable system holds the schedule of payment of the clients, the requirements and other necessary information. The company’s sales processing takes a while in doing the accounts receivable system. It...
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