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Hi
Need to ask that if sales invoices are not sequentially numbered then what will be the effect of it and what should be the recommendation?
Thanks
Look at the outline of a sales system on page 74 and ask yourself “what could go wrong if sales invoices are not sequentially numbered”? Essentially it would not be possible to check the completeness of recording – if any have gone missing revenue/receivables (or cash in the case of cash sales) will be understated. The recommendation would be not only that they should be sequentially numbered, but that the recording of sales (e.g. in the sales day book) should be sequenced-checked (say monthly) and any missing invoices investigated.
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