Regarding reselling of goods[serious]
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Currently im working in x company dealing with lightings
supplying lightings to hotels and offices
usually,these hotels wuld purchase bulds and lamps in bulk lyk 1000pcs
and company wuld give a qoute to them
supposely,a company call up,and ask for a qoute of a bulb
i told them 3.5$
but comapny sell them at 3$
they order 1000pcs
so i take out 3000$ and get the 1000pcs of bulb worth 3$ each and sell them to the customer at 3.5$,making a profit
is it a crime?
they customer are nt bonded by contract but they r big company and regular purchasers
if its ok to do so,its it leggal to use the company invoices to bill them? -
So the 0.50cents each goes to company or you?
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of course meOriginally posted by mhcampboy:So the 0.50cents each goes to company or you?
cuz i wuld qoute the seller 3.5$ but company actually sells at 3$
but b4 tat,i wuld quickly buy from the company
i duno weather its legal
something tells me its nt
but i wanna know if its ok or not -
WTF!??
Have you booked a place at Changi Chalet or not?
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y u say so?Originally posted by mhcampboy:WTF!??
Have you booked a place at Changi Chalet or not?
i think its ok to give a higher qoute cuz diff suppliers have diff pricelist
but what im afraid is if its possible to do this using company name -
WTF!!?Originally posted by olala:y u say so?
i think its ok to give a higher qoute cuz diff suppliers have diff pricelist
but what im afraid is if its possible to do this using company name
Still can say its ok ar?
Crazie ar you. That is considered embezzlement. There are few acts and laws regarding it. And what you are doing is totally wrong.
You can be charge for making false quotations to the hotel. And charge for making use of Company for your own good.
Whatever it is, you are dealing on behalf of the Company. Not by yourself. Your company hires a forensic accountant then u know. Can say bye bye to your life already. -
Merry Meet Olala,
What you do is definitely not legal. Its Corporate Fraud as you are issuing your Company Invoice however the excess profit goes to your pocket. If its a Third Party Sale under your own name to another Third Party who is not your Company clientele then should not have much of an issue. However if its not you are liable in the eyes of law.
Blessed Be,
Oceanos -
of course it's illegal!
u can get charged!
u bill the buyer with company's invoice.
naturally the invoice will be reflected with $3.5k.
end of the mth do accounts see $500 missing u think they duno? -
It's not legal. What you're suggesting could be fraud in eyes of common law. From an accounting pt of view, a sales invoice is evidence of revenue earned for your company. Your employer will expect to collect back whatever money that was invoiced.
Only if your employment contract states that you will be paid a commission based on the sales u make, the commission that you receive will be legal. Even then, this will be a separate accounting treatment & cannot be simply net off from the sales that you made.
Your customer may not realise this but your company's finance dept will definitely check this out when there's a discrepancy between invoice amount & amount collected.
If this is legal, then more enrons will be coming up..
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and more fun with dick and janeOriginally posted by Livvy:It's not legal. What you're suggesting could be fraud in eyes of common law. From an accounting pt of view, a sales invoice is evidence of revenue earned for your company. Your employer will expect to collect back whatever money that was invoiced.
Only if your employment contract states that you will be paid a commission based on the sales u make, the commission that you receive will be legal. Even then, this will be a separate accounting treatment & cannot be simply net off from the sales that you made.
Your customer may not realise this but your company's finance dept will definitely check this out when there's a discrepancy between invoice amount & amount collected.
If this is legal, then more enrons will be coming up.. -
As to weather the purchaser is a client,i can some which are and which are not
they are regular customer but not bound by any prices contract
[eg.to buy this particular product at a give price for 1 yr]
hm...guess its a troublesome thing -
not allowed to use company products to gain personal profits
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u can get sued
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By right everything muz go into the a/c lor.Originally posted by olala:Currently im working in x company dealing with lightings
supplying lightings to hotels and offices
usually,these hotels wuld purchase bulds and lamps in bulk lyk 1000pcs
and company wuld give a qoute to them
supposely,a company call up,and ask for a qoute of a bulb
i told them 3.5$
but comapny sell them at 3$
they order 1000pcs
so i take out 3000$ and get the 1000pcs of bulb worth 3$ each and sell them to the customer at 3.5$,making a profit
is it a crime?
they customer are nt bonded by contract but they r big company and regular purchasers
if its ok to do so,its it leggal to use the company invoices to bill them?
Moonlighting = sack = changi prison reserved for you. -
want ur butt to become lightbulbs too is it...
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Or you want you butt to have barcode ar. |||| ||| |||||| ||<- rotanOriginally posted by kaobeikaobu:want ur butt to become lightbulbs too is it... -
Later people make joke about u...
How many OLALAs does it take to sell a lightbub? -
But seriously i dun see why its illegal when i buy the goods from company and qoute it at higher price
as for invoice juz merly using company to get purchaser to pay me nia ma -
Either way u tio laOriginally posted by olala:But seriously i dun see why its illegal when i buy the goods from company and qoute it at higher price
as for invoice juz merly using company to get purchaser to pay me nia ma
U buy from them and resell at higher place. Ur ex employers will sue you for something about conflict of interest.
U use their stuff and inventory and sell at higher price also same la. Invoice comes into effect in the Profit/Loss statement la. At the end of the month, the ledger entries and the invoice amout have to tally. -
It's an offence under Corrupted Practices Investigation Bureau (CPIB) for Criminal Breach of Trust (CBT)...
For a small gain, in exchange you will lose your dignity and future... -
of course it is illegalOriginally posted by olala:Currently im working in x company dealing with lightings
supplying lightings to hotels and offices
usually,these hotels wuld purchase bulds and lamps in bulk lyk 1000pcs
and company wuld give a qoute to them
supposely,a company call up,and ask for a qoute of a bulb
i told them 3.5$
but comapny sell them at 3$
they order 1000pcs
so i take out 3000$ and get the 1000pcs of bulb worth 3$ each and sell them to the customer at 3.5$,making a profit
is it a crime?
they customer are nt bonded by contract but they r big company and regular purchasers
if its ok to do so,its it leggal to use the company invoices to bill them?
SAF rule - if u want to do something, just don't get caught
u get caught, u be hanged out to dry -
Even if you don't get caught, people will say your future GTR is bought with dirty money.
ANG ZHAN $$
ANG ZHAN CAR!! -
if u PAKAT with another company to quote them a 'lower' price than you can obtain from them... u already can be sacked liao.
So what u think u quote urself a 'low'price so can steal ur company current contacts?
AND hor.. if u offer hor.. I reckon one of those 'clients' will tell ur boss too
use ur blain la.. if u boss would u allow ur employee like this or not???
BUTT if you become VERY FAMILIAR with market price.. u CAN set up a separate company of your own and become middle man in buying these things. NOT while u still working in the company and can suka suka 'quote' ur ownself whatever price in order to make the margin. -
It is illegal you can go to jail for it .Originally posted by olala:of course me
cuz i wuld qoute the seller 3.5$ but company actually sells at 3$
but b4 tat,i wuld quickly buy from the company
i duno weather its legal
something tells me its nt
but i wanna know if its ok or not
It is fraud ! It is a clear case of you all out to cheat your company money. -
Livvy, it is still fraud ! No matter how the paper evidence ! Basically our friend here is under employment of the company . What he did is cheating and fraud to his company. The problem here is he pocket the money !!!Originally posted by Livvy:It's not legal. What you're suggesting could be fraud in eyes of common law. From an accounting pt of view, a sales invoice is evidence of revenue earned for your company. Your employer will expect to collect back whatever money that was invoiced.
Only if your employment contract states that you will be paid a commission based on the sales u make, the commission that you receive will be legal. Even then, this will be a separate accounting treatment & cannot be simply net off from the sales that you made.
Your customer may not realise this but your company's finance dept will definitely check this out when there's a discrepancy between invoice amount & amount collected.
If this is legal, then more enrons will be coming up..
He mislead the client and company , try bring this case to court !!! he does not even have a chance.