Internal control sales system

This topic has 1 reply, 2 voices, and was last updated 8 years ago by Ken Garrett.

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August 23, 2017 at 10:07 am #403128
Anuja Nair
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Hi sir, for the sales system, it is stated in my textbook that

” monthly customer statements sent to customers enables customers to identify misrecorded invoices and receipts and notify the company ”

I dont really understand what this point means. Could you elaborate sir ?
August 24, 2017 at 2:47 pm #403315
Ken Garrett
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Our statement to a customer shows them what is in the receivables account we hold for them. They can then compare to their payables account for us to see if we agree.
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