Selling & Invoicing
An invoice is a bill or a form that lists the quantity, description, unit price, and total cost of the items sold to a customer.
Points to consider:
You will be selling to two categories of customers.
- Customers who are visitors to the trade show (non-VE participants) and do not have online virtual checking accounts.These customers will pay for their purchases using paper checks that will be provided to them on the day of the trade show. Visitors will receive a total of ten checks; the maximum dollar value of each check will be $1,000.
- Customers who are VE participants who have online virtual checking accounts.
These customers will pay for their purchases after the trade show using the online banking software.
Note: Every VE participant has a bank account, but not necessarily a US Network Bank account(Austria, Bulgaria, Canada, etc.). These customers will be able to pay through the banking system only if they specify when they set your firm up as a payee that their account belongs to the US Network Bank.
Make it easier for customers to pay you. Be sure to include your US Network Bank account number on your invoice. Specify that your account is a US Network Bank account.
The customer will want – and should receive – an invoice at the time of the sale. The seller must keep a copy of the invoice as well. Firms keep the original.
Customers who are non-VE participants will pay on the spot. By retaining a copy of the invoice you will have the information you need to construct sales records.
Customers who are VE participants will pay after the trade show is over. These are sales-on-account. By retaining a copy of the invoice you will have the information you need to construct sales records and a record of your accounts receivable (customers who owe you money).
The seller’s copy of invoices for sales on account should be signed by the customer. If payment is not made, an invoice signed by the customer is evidence that the seller is entitled to receive payment.
How will you prepare duplicate copies of invoices?
Getting Paid For Sales On Account
If you make a sale to an individual who is purchasing a product or service for him or herself, be mindful of what the customer is purchasing, and how much credit you are extending.
It is not realistic to expect that an individual will want to buy auditing services or Website design services for him or herself, for example.
You should expect that most individuals who are buying for themselves are likely to have about as much money as you. If you can’t afford it, chances are that they can’t afford it either.
What is your firm’s credit policy? Will you provide the same amount of credit to all customers?
If you make a sale to a customer who is making a purchase on behalf of his or her firm, the seller needs to be assured that the purchaser is authorized to do so. When the customer signs the invoice, ask him or her to include their company title.
Raffles and promotions are a proven way to increase sales. Customers who buy are allowed to enter into a drawing for prizes.
Be aware of the following:
- Customers who buy more products and services than they intend to pay for in order to increase the odds of them winning the raffle.
- Customers who make multiple purchases just for the sake of increasing their chance of winning the raffle.
- It is not legal to require a purchase to be entered into a raffle
Using Labels To Identify Customers
Ask your customer to provide you with a label that identifies his/her school/firm/ and bank account number.
Using Labels to Identify Yourself When Purchasing
All firms should be sure that they prepare labels that include the name, title, firm, firm address, firm email and firm bank account number. Be sure that firm labels are only given to individuals who are authorized to purchase on behalf of the firm.
- JOHN STUDENT
- Authorized purchaser for
- Firm Name
- School Name
- Street Address of Firm
- City, State ZIP
- Bank Name /Firm’s Account Number
All employees in the firm should also prepare labels that include the individual’s name, firm, firm address, and employee bank account number. The purpose of these labels is to provide information about you, the customer. You must be sure you have money in your checking account to cover the purchases you make.
You will find deposit envelopes and deposit slips in your welcome kit. Directions for submitting deposits:
-Verify that all checks are payable to your firm, are signed and do not exceed the limit stated on the check.
-Endorse each check: “For deposit only”; write the company’s Bank account #.
-List each check on a separate line of the deposit slip.
-Complete the label on the envelope providing:
- company name
- bank account number
- The number of checks
- total deposit amount
-Do not seal the envelope.
-Bring your completed deposit to the bank; a teller will examine your deposit and give you a receipt. Do not wait until the end of the day to submit bank deposits.
Feel free to make frequent, small deposits.
You can obtain additional deposit slips and envelopes at the U.S. Network Bank booth (Booth 149).
The US Network Bank will deposit funds into your account after your deposits have been audited. When making sales, be sure your invoice/sales receipt has complete and legible billing information for customers as this will be your only sales record.
NOTE 1: The U.S. Network Bank will not accept paper check deposits for trade fair sales that are submitted to the U.S. Network Bank after the trade fair.
NOTE 2: : Detailed Trade Show Preparation information, including Trade Show Banking, Selling and Invoicing and GUEST CHECK Procedures have been uploaded to the VEI national website at www.veinternational.org. Click on Resources, Reference Files. Under Marketing/Sales, click the link Preparing for Trade Show – Prezi and Trade Show Preparation Guide.
Responsibilities and Regulations
The exhibitor agrees to abide by all rules as set forth by Virtual Enterprises International.
Set-up and Breakdown
Set up will take place on Wednesday, April 10, 2013 from 1:00 to 8:00 p.m. Breakdown will occur on Thursday, April 11, 2013 from 3:30 to 4:30 p.m. Under no circumstances may exhibitors dismantle displays before the scheduled time and completion of all closing ceremonies. Materials left after 5:30 p.m. will be discarded.
Crates and packing materials not required for the show must be removed at least one hour prior to the opening.
The exhibitor is responsible for any and all damage to the facility caused by its representatives. The exhibitor agrees to leave the assigned booth(s) in the same condition as received.
Exhibitors shall remove and deposit in receptacles provided all bulk, crates, packing materials, etc., prior to show opening and following breakdown. All booth refuse must be placed in plastic garbage bags provided and taken to disposal areas, which will be clearly identified.
Booths must be continually staffed by at least two people during all official setup and exhibit hours.
Students must be supervised at all times, including tours.
All participating students and faculty members MUST have identification badges visible at all times. The badges must include the participant’s name, firm name, and school.
Smoking is not permitted in the Armory. Exhibitors are required to keep their booth area neat and litter free. During the official trading day, participants must dress in accepted business attire or in a manner that compliments the exhibit booth theme. Disorderly conduct, profanity and running are expressly prohibited. Any inappropriate behavior is prohibited and is cause for immediate dismissal from trade fair activities. Coordinators must actively chaperone their employees.
No exhibitor may engage in any activity or employ any individual or device that tends to create unreasonable congestion in the aisles. Sufficient space must be provided within the exhibit area and be arranged so that persons watching demonstrations and other activities are contained within the booth. Moving displays, motion pictures, slide projectors, TV monitors, etc., must be operated in a manner that will not create crowd congestion or obstruct the activities of adjacent exhibitors.
The exhibitor agrees to abide by booth wall height restrictions. The booth is 8′ wide, 8′ deep and 8′ tall. All displays, tables, chairs, etc., must fit within the confines of the booth and may not extend into the aisle. No display, balloons, banners, flags, etc., may extend above the 8′ height of the rear curtain. Height limitations may be modified for side row booths beneath the balconies, but will require special permission.
All booths are to be designed in a manner that will eliminate sight-line obstructions from one exhibit to the next.
Exhibitors are to show respect for spectators and booth demonstrators by keeping the volume of music or other amplified sound to a minimum. Loud sounds are distractions and tend to disrupt participants and spectators. It is recommended that exhibitors use headsets when music or other amplified sounds is critical to booth presentation. NYC and national office staff will enforce these limits.
The exhibitor assumes responsibility for compliance with all pertinent ordinances, regulations and codes of duly authorized local, state, and federal governing bodies concerning fire, safety and health. No person may sit on any stairs, including the main entrance to the armory.
Although Virtual Enterprises International will take every precaution to provide adequate security during the event, it does not assume any responsibility for lost or stolen articles. Items such as money, jewelry, personal stereos, computers, exhibitor display items or other valuables should never be left unattended in the booth during setup, breakdown or any time that the exhibit is open for trading. Please report any security issue, which would affect the event, to trade fair management, at the registration booth. Where storage space is made available, the exhibitor agrees to hold Virtual Enterprises International and the 69th Regiment Armory harmless for loss or damage to such items that are stored.
Be sure you have made arrangements to have your students supervised at all times. One adult must accompany ten students on all tour activities. If you are sending students on a tour, be sure you have made supervision arrangements. In addition, be sure you have signed parental permission forms for all activities in which your students are participating.