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sales system

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › sales system

  • This topic has 3 replies, 2 voices, and was last updated 11 years ago by Ken Garrett.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • November 15, 2013 at 3:45 pm #146174
    aishaasad
    Member
    • Topics: 159
    • Replies: 185
    • ☆☆☆

    Hello Sir,
    can you please give examples of internal control that should be operating at each point of sales system as follow
    (a) receipt
    processing
    recording of orders
    (b) collection of cash

    thank you

    November 16, 2013 at 12:44 pm #146303
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10595
    • ☆☆☆☆☆

    Examples are:

    Receipt of order: check that it is within customer’s credit limit. File/list the order to ensure it is not later mislaid.
    Despatch: each despatch should be independently verified to ensure correct goods sent.
    Receivables: send out regular statements to remind customers and to check that amounts we think oare owing agree with customer’s view.
    Collection of cash: match cash to specific invoicesso that we know which have been paid and which are outstanding.

    November 16, 2013 at 1:38 pm #146316
    aishaasad
    Member
    • Topics: 159
    • Replies: 185
    • ☆☆☆

    ok Sir but can you please mention for processing and recording of orders

    November 17, 2013 at 11:53 am #146440
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10595
    • ☆☆☆☆☆

    Receipt of order: check that it is within customer’s credit limit. File/list the order to ensure it is not later mislaid.

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