Académique Documents
Professionnel Documents
Culture Documents
1.
A customer order usually in the form of a purchase order initiates the sales
process.
2.
The packing slip travels with the goods to the customer, and it describes
contents on the order. Upon filling the order, the shipping department
shipping notice to the billing department to notify them that the
filled and shipped. The shipping notice contains additional
the
sends
order
information
the
has
been
that
the
packing slip may not contain, such as shipment date and carrier and freight charges.
The bill of lading is a formal contract
The receiving department counts and inspects items that are returned by
customers. The receiving department prepares a return slip, copies of
which
The
general ledger clerk receives a total of all sales from the billing
a.
be verified against
sends
summary
credit checks
remittance
fraud
a.
are sent from the warehouse by reconciling the stock release document and
the packing slip.
b. Billing departmentreconciles the shipping notice with the invoice to
ensure that customers are appropriately billed.
c. GL clerksreconcile journal vouchers from various departments
as the billing department, the accounts receivable department,
inventory control
and
such
8.
9.
field of
the inventory record. This field has a value of zero when the item in question is not on
order.
10.
An edit run is the first run; it detects most data entry errors. Only clean
progresses to the sort run. The sort run sequences the transaction records
data
according
to its primary key field and possibly a secondary key field. Once the data is sorted, the
update program posts the transactions to the appropriate corresponding records in the
master file. During a
master file to
11.
transactions
In the advanced technology system, the system logic, not a human being, makes
the decision to grant or deny credit based on the customers credit history contained in
the credit history file. If credit is denied, the sales clerk
the transaction to continue.
the
proper
customers that involve ensuring only that the current transaction does not
exceed the customers credit limit may be dealt with very quickly.
13.
access
before the goods are actually shipped; thus, the economic event
Some of the goods may not be available to ship; thus, the
15.
privileges
but
simultaneous
is
instances
not
complete.
is
the
17.
18.
A billing of lading is a formal contract between the seller and the shipping
company (carrier) to transport the goods to the customer.
19.
The billing process is initiated by the shipping notice, which signals the
shipment of the goods to the buyer.
20.
Supervision plays an important role in the mail room where both the check
(asset) and remittance advice (accounting record) are in the hands of one
person. Mail room fraud can result, which involves stealing the check and
destroying the remittance advice to cover the theft.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
All are proper segregation of functions except b. The sales department should not be
allowed to approve credit memos since it could potentially overstate sales in one period
to meet quotas and boost bonuses and reverse them in a subsequent period. The
receiving report indicating that goods have been received by the receiving department
should be the source document for credit memos and it should be authorized by
someone independent of the sales department.
a.
Sales
b.
Sales journal
Billing
c.
General Ledger
d.
Cash Receipts
e.
Inventory Control
f.
Accounts Receivable
g.
Sales
h.
Shipping
i.
Sales
j.
Sales
k.
Sales