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sales credits - - - - buying agent

Spanish translation: crédito por devolución de mercaderías

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:sales credits
Spanish translation:crédito por devolución de mercaderías
Entered by: Margarita Palatnik
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20:25 May 24, 2005
English to Spanish translations [PRO]
Bus/Financial - Accounting
English term or phrase: sales credits - - - - buying agent
Candie's also recorded several unsupported journal entries in the fourth quarter of fiscal year 1999 to recognize approximately $1.65 million in baseless "sales credits" on from one of its overseas buying agents("Buying Agent"). Specifically, Candie's used the false sales credits to reduce its accounts payable to the Buying Agent, and correspondingly to understate expenses, which enabled Candie's to inflate reported income. Tucker, a Candie's director and member of the audit committee, as well as Candie's principal contact at the Buying Agent, agreed to permit Candie's to record the false credits and assisted Candie's in obtaining documentation of the nonexistent credits.
Damian Cassani
Local time: 03:25
crédito por devolución de mercaderías ... agente de compras
Explanation:
Si la empresa alega que la mercadería fue devuelta, entonces le tiene que pagar menos comisiones al agente de ventas...

IGI failed to process and record sales credits on a timely basis in fiscal years 1995, 1996, and 1997. By delaying the processing and recording of such credits, IGI misstated its accounts receivable, sales, and net income from 1995 through 1996, and during the first three quarters of fiscal year 1997.

IGI typically issued sales credits to its customers for returned products, for the return of liquid nitrogen containers used to ship mareks, or for promotional allowances. Customers generally sent requests for credits to the sales clerks who prepared credit memoranda. Before entering the credits into IGI's accounting system, the sales clerks sent the credit memoranda to their managers for approval. At the direction of the former President, the managers routinely delayed approval of large sales credits until the revenue levels were high enough to allow write-offs of the credits without affecting expected or targeted earnings. In some instances, at the direction of the former President, IGI's mangers instructed the sales clerks not to process or record large sales credits at all. In one instance, management deferred a sales credit of $101,000 for more than a year before charging the related receivable off against sales.



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Note added at 20 hrs 38 mins (2005-05-25 17:03:38 GMT)
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ESTIMATION OF SALES CREDITS

Sales credits arise in the ordinary course of business. Adjustments to the actual billing may arise due to variances in the systems tracking devices between us and our customers. The primary factors we consider in estimating our sales credit reserve are the historical rate of sales credits issued as a percentage of revenue and the impact of changes in the services we offer. We apply the sales credits issued percentages to gross receivables to estimate the total sales credit reserve necessary at each balance sheet date. We then consider the impact of changes in our service offerings and adjust the credit reserve as necessary. Eighty-five percent of sales credits are generally issued within 90 days of delivery of the service. For the years ended December 31, 2004, 2003, and 2002, we reduced revenues for estimated sales credits by $272, $725, and $385, respectively.

For those same three years, we issued sales credits of $305, $694, and $435, respectively.

Sales credit memos issued as a percentage of revenues approximated 0.8%, 2.1%, and 1.7% in the years ended December 31, 2004, 2003, and 2002, respectively. Sales credit reserve balances as a percentage of gross accounts receivable approximated 1.3%, 2.3%, and 1.6%, respectively, as of the end of the same periods. We expect that sales credit memos issued as a percentage of revenues will likely fluctuate between 0.8% and 2.3% in the foreseeable future as we add or eliminate products and services and make changes in our contract terms and conditions which may impact the amount of sales credit memos issued.


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Note added at 20 hrs 45 mins (2005-05-25 17:10:35 GMT)
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The most significant estimates that affect net sales are wholesaler chargebacks, sales credits and cash discounts. The wholesaler chargeback calculation is computed as described in the following paragraph. The allowances for doubtful accounts, cash discounts and sales credits are estimated monthly by applying historical percentages (based on credits issued for each category), which are reassessed periodically, to the product sales for the month.

** Purchases are calculated as total credit purchases less sales credits (i.e. returns) and adjustments during a statement period. Excludes cash advances (including bills paid over the counter at a bank, fi nancial institution or post offi ce) when you use your card to purchase travellers’ cheques, or as a debit card to access linked accounts. Business transactions are also excluded; as are credit charges; annual or other bank fees; government charges or unauthorised transactions for which the cardholder is not liable.
Selected response from:

Margarita Palatnik
Local time: 03:25
Grading comment
3 KudoZ points were awarded for this answer

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Summary of answers provided
4 +2ventas a crédito - - - - agente (representante) de compras
Michael Powers (PhD)
5crédito por devolución de mercaderías ... agente de comprasMargarita Palatnik
5Créditos por Ventas
Terejimenez


Discussion entries: 7





  

Answers


22 mins   confidence: Answerer confidence 5/5
Créditos por Ventas


Explanation:
suerte

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Note added at 2005-05-24 23:15:58 (GMT)
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Actividades operativas
Los fondos netos originados en las operaciones durante 2004 fueron USD 98,3 millones, comparables con USD 275,6 millones originados en 2003. La generación de recursos derivada de las operaciones se vio afectada por un incremento sustancial en el capital de trabajo de USD 621,2 millones, lo que refleja:
• un incremento en inventarios de USD 411,0 millones, principalmente por incrementos en el costo de la materia prima y por una mayor actividad de negocios,
• un incremento neto en créditos por ventas, menos anticipos de clientes y deudas comerciales, de USD 82,8 millones, lo que refleja mayores ventas netas trimestrales,
• el pago del primer y segundo vencimiento de la deuda con el consorcio encabezado por BHP Billiton Petroleum Ltd. (USD 116,9 millones). El tercer y último pago de esta deuda, por GBP 30,4 millones (aproximadamente USD 62,0 millones) vence en diciembre de 2005, aunque antes de tener que efectuar dicho pago esperamos haber recibido de Fintecna el pago de EUR 92,6 millones (aproximadamente USD 126,1 millones) como resultado del laudo arbitral.

http://www.tenaris.com/sp/investors/annual_2004_sp/files/08_...

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Note added at 2005-05-24 23:25:41 (GMT)
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Nadie te está \"tomando del pelo\". Créditos por Ventas son ingresos por Ventas. Lee bien tu párrafo. \"Más claro no canta un gallo\".

B. Sales Credits

1. Sales Credits are income from the sales, both internal and external, of goods/services. In the University Accounting System, sales credits are budgeted as an offset to expenses. The accounting for Sales Credits is dependent on the departmental funding source:



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Note added at 2005-05-24 23:32:36 (GMT)
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es demasiado claro que están hablando de créditos por ventas falsos para reducir las cuentas por pagar de la compañía e inflar los ingresos reportados.

Se refiere a Créditos en términos Contables. Existe una Cuenta de Créditos y otra de Débitos. En la cuenta de Créditos están los Ingresos y en la cuenta de Débitos están los gastos.




Terejimenez
Local time: 01:25
Specializes in field
Native speaker of: Spanish
PRO pts in category: 26
Login to enter a peer comment (or grade)

3 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
ventas a crédito - - - - agente (representante) de compras


Explanation:
Mike :)

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Note added at 3 mins (2005-05-24 20:28:40 GMT)
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Así es la traducción de las dos frases en Diccionario de negocios, Editorial Limusa, por Urrutia.

Mike :)

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Note added at 18 mins (2005-05-24 20:43:18 GMT)
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Ley de entidades financieras número 21526 - [ Translate this page ]
... otorgar anticipos sobre créditos de venta. otorgar avales. realizar inversiones
en valores mobiliarios. efectuar inversiones de carácter transitorio ...
html.rincondelvago.com/ ley-de-entidades-financieras-numero-21526.html - 28k - Cached - Similar pages

Abandono con matices - [ Translate this page ]
... francés seguramente hubiese cooperado mucho más con la República, sobre todo desde
el punto de vista de concesión de créditos, de venta de material de ...
boards4.melodysoft.com/app?ID=forogce&msg=9462 - 15k - Supplemental Result - Cached - Similar pages

Fundación Amigos de la Naturaleza * FAN - Bolivia - [ Translate this page ]
... En el marco de la implementación del Proyectos de Acción Climática PAC-NK ,
este año se comenzó con la certificación de créditos de venta de carbono que ...
www.fan-bo.org/FanNoticias/ Diciembre/logrosconservacion.htm - 45k - Cached - Similar pages

Entrevista al Senador José Korseniak del Partido Socialista ... - [ Translate this page ]
... Incluso yo planteaba que se recordase lo que era emitir para redescontar documentos
que reflejaban créditos de venta de ganado por ejemplo, en Uruguay eso se ...
www.radio36.com.uy/entrevistas/ 2003/mayo/050503_korseniak.htm - 32k - Supplemental Result - Cached - Similar pages



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Note added at 21 mins (2005-05-24 20:46:22 GMT)
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créditos de venta - - - - agente (representante) de compras



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Note added at 23 mins (2005-05-24 20:49:00 GMT)
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También, en Diccionario de térmionos contables, escrito por el Instituto Mexicano de Contadores Públicos, A.C., dice:

\"sales budget: presupuesto de ventas\"
\"sales department: departamento de ventas\"
\"sales price: precio de ventas\"

etc.

No tiene \"sales credit\", pero está claro que \"credit\" es \"crédito\" y \"sales\" se traduce \"de venta\" cuando sirve de adjetivo.

Michael Powers (PhD)
United States
Local time: 02:25
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 71

Peer comments on this answer (and responses from the answerer)
agree  Xenia Wong
0 min
  -> Gracias, Xenia - Mike :)

agree  Gabriela Rodriguez
5 mins
  -> Gracias, gaby32 - Mike :)
Login to enter a peer comment (or grade)

45 mins   confidence: Answerer confidence 5/5
crédito por devolución de mercaderías ... agente de compras


Explanation:
Si la empresa alega que la mercadería fue devuelta, entonces le tiene que pagar menos comisiones al agente de ventas...

IGI failed to process and record sales credits on a timely basis in fiscal years 1995, 1996, and 1997. By delaying the processing and recording of such credits, IGI misstated its accounts receivable, sales, and net income from 1995 through 1996, and during the first three quarters of fiscal year 1997.

IGI typically issued sales credits to its customers for returned products, for the return of liquid nitrogen containers used to ship mareks, or for promotional allowances. Customers generally sent requests for credits to the sales clerks who prepared credit memoranda. Before entering the credits into IGI's accounting system, the sales clerks sent the credit memoranda to their managers for approval. At the direction of the former President, the managers routinely delayed approval of large sales credits until the revenue levels were high enough to allow write-offs of the credits without affecting expected or targeted earnings. In some instances, at the direction of the former President, IGI's mangers instructed the sales clerks not to process or record large sales credits at all. In one instance, management deferred a sales credit of $101,000 for more than a year before charging the related receivable off against sales.



--------------------------------------------------
Note added at 20 hrs 38 mins (2005-05-25 17:03:38 GMT)
--------------------------------------------------

ESTIMATION OF SALES CREDITS

Sales credits arise in the ordinary course of business. Adjustments to the actual billing may arise due to variances in the systems tracking devices between us and our customers. The primary factors we consider in estimating our sales credit reserve are the historical rate of sales credits issued as a percentage of revenue and the impact of changes in the services we offer. We apply the sales credits issued percentages to gross receivables to estimate the total sales credit reserve necessary at each balance sheet date. We then consider the impact of changes in our service offerings and adjust the credit reserve as necessary. Eighty-five percent of sales credits are generally issued within 90 days of delivery of the service. For the years ended December 31, 2004, 2003, and 2002, we reduced revenues for estimated sales credits by $272, $725, and $385, respectively.

For those same three years, we issued sales credits of $305, $694, and $435, respectively.

Sales credit memos issued as a percentage of revenues approximated 0.8%, 2.1%, and 1.7% in the years ended December 31, 2004, 2003, and 2002, respectively. Sales credit reserve balances as a percentage of gross accounts receivable approximated 1.3%, 2.3%, and 1.6%, respectively, as of the end of the same periods. We expect that sales credit memos issued as a percentage of revenues will likely fluctuate between 0.8% and 2.3% in the foreseeable future as we add or eliminate products and services and make changes in our contract terms and conditions which may impact the amount of sales credit memos issued.


--------------------------------------------------
Note added at 20 hrs 45 mins (2005-05-25 17:10:35 GMT)
--------------------------------------------------

The most significant estimates that affect net sales are wholesaler chargebacks, sales credits and cash discounts. The wholesaler chargeback calculation is computed as described in the following paragraph. The allowances for doubtful accounts, cash discounts and sales credits are estimated monthly by applying historical percentages (based on credits issued for each category), which are reassessed periodically, to the product sales for the month.

** Purchases are calculated as total credit purchases less sales credits (i.e. returns) and adjustments during a statement period. Excludes cash advances (including bills paid over the counter at a bank, fi nancial institution or post offi ce) when you use your card to purchase travellers’ cheques, or as a debit card to access linked accounts. Business transactions are also excluded; as are credit charges; annual or other bank fees; government charges or unauthorised transactions for which the cardholder is not liable.

Margarita Palatnik
Local time: 03:25
Native speaker of: Native in SpanishSpanish
PRO pts in category: 242

Peer comments on this answer (and responses from the answerer)
neutral  Terejimenez: "credits" en este caso es un término contable
2 hrs
  -> No en este caso. He colocado más referencias...
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