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ACCOUNT RECEIVABLES BUSINESS PROCESS AND CASH SALES. SISTEM INFORMASI AKUNTANSI. Describe the customer account management business process. Learning Objective 1. Customer Account Management Business Process. The customer account management business process includes accounts

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SISTEM INFORMASI AKUNTANSI

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Sistem informasi akuntansi

ACCOUNT RECEIVABLES BUSINESS PROCESS

AND CASH SALES

SISTEM INFORMASI AKUNTANSI


Learning objective 1

Describe the customer account

management business process.

Learning Objective 1


Customer account management business process

Customer Account Management Business Process

The customer account management

business process includes accounts

receivable processing through

the collection of customer

payments on account.


Customer account management business process1

Customer Account Management Business Process

Accounts receivable also

maintains customer credit and

payment history information.

This information is essential in

the customer order management

business process.


Customer account management business process2

Customer Account Management Business Process

A subsidiary ledger of individual

accounts is maintained, with a

control account in the general ledger.

Remittance advices are routed

from the cash receipts functions.

Credit memos and other invoice adjustments

are routed from the billing department.


Customer account management business process3

Customer Account Management Business Process

There are two basic approaches to

an accounts receivable application.

What are these approaches?

1. Open-item processing

2. Balance-forward processing


Learning objective 2

Illustrate controls that apply to

accounts receivable processing.

Learning Objective 2


Controls in the accounts receivable business process

Customer

Receiving

Cash

Receipts

Accounts

Receivable

General

Ledger

Returned

goods

Remittance

advices

Remittance

advices

Control

total

Control

total

Post

Controls in the AccountsReceivable Business Process


Controls in the accounts receivable business process1

Control

totals

Control

totals

Independent

count

Approve

sales return

Sales return

memo

Sales return

memo

Journal

voucher

Journal

voucher

Sales return

memo

Controls in the AccountsReceivable Business Process

Receiving

Credit

Billing

Accounts

Receivable

General

Ledger

Invoices


Controls in the accounts receivable business process2

Periodic

processing

Aged trial

balance

Aged trial

balance

Credit

memo

Credit

memo

Post

Statements

Statements

Controls in the AccountsReceivable Business Process

Customer

Credit

Billing

Accounts

Receivable


Write off accounts receivable

Write-Off Accounts Receivable

The basic feature in a write-off process

is an analysis of past-due accounts.

This is usually done with an

aged trial balance report.


Write off accounts receivable1

Treasurer

Credit

Accounts

Receivable

General

Ledger

Internal

Audit

Aged trial

balance

Aged trial

balance

Control

total of

write-offs

Control

total of

write-offs

Write-off

memo

Write-off

memo

Write-off

memo

Write-off

memo

1

1

3

1

2

3

Worthless

account list

Worthless

account list

File

Confirmation of write-off sent to customer

Write-Off Accounts Receivable


Cash received on account business process

Cash-Received-On-Account Business Process

A cash-received-on-account business

process is used when there is an

existing customer account balance.

Cash received on account typically

comes into a business through the

mail or is paid in person to a

central cashier or a cash window.


Cash received on account business process1

Cash-Received-On-Account Business Process

Customer payments should

always be acknowledged.

The recorded receivable that exists

prior to the payment enhances

control over payments received.


Cash received on account business process2

Cash-Received-On-Account Business Process

The major control feature of cash-received-

on-account business process is the

separation of the following functions:

Mailroom

Cash receipts

Accounts receivable

General ledger

Bank

Internal audit


Cash received on account business process3

REMITTANCES

ON ACCOUNT

CUSTOMERS

CASH-RECEIVED-ON-ACCOUNT BUSINESS PROCESS

OPEN

MAIL

Separate Checks &

Remittance Advices

REMITTANCE

ADVICES

CHECKS

MAILROOM

PREP.

REMITT.

LIST

ENDORSE

& TOTAL

A

B


Cash received on account business process4

A

B

REMITTANCE

LIST

REMITTANCE

ADVICES

CONTROL TOTAL

CHECKS

CASH-RECEIVED-ON-ACCOUNT BUSINESS PROCESS

MAILROOM

FORWARD

TO CASH

RECEIPTS

FORWARD

TO A/R

APPROVE

REMITT

LIST

D

C

REMITTANCE

ADVICES

CONTROL

TOTAL

File by Date


Account receivable

ACCOUNT RECEIVABLE

  • The remittance advice are posted to the accounts receivable ledger. The postings to the ledger are totaled. The control total is balanced to the remittance list. The agreement of these amounts is approved. The remittance advices are sorted and filed by customer. The remittance list and a copy of the control total of posting is filed by date. A copy of the control total is forwarded to the general ledger.


General ledger

GENERAL LEDGER

  • The journal voucher from cash receipts and the control total received from accounts receivable are compared. The amounts are then posted to the general ledger. The source of posting the general ledger is the cashier’s journal voucher notification of the amount of the deposit of the payments received. This amount must reconcile with the total of items posted to the accounts receivable ledger. The journal voucher and the control total are file by date.


Exercise

EXERCISE

  • BANK:

    • The bank accepts the deposit and validates a copy of the deposit slip. The validated copy of the deposit slip is returned to the internal audit and filed by date.

  • INTERNAL AUDIT:

    • Internal audit receives the periodic bank statement. An independent bank reconciliation is an important control in a cash-received-on-account business process.


Lock box collection systems

Lock-Box Collection Systems

What is float?

It is the time between the signing of the

payment check by the customer and the

moment the firm has use of the funds.

A lock-box system reduces the float by

having the checks deposited to a firm’s

account before the firm processes them.


Cash sales business process

Cash Sales Business Process

The significant difference between a cash

sales business process and a cash-received-

on-account business process is that there

is no previous asset record in a cash

sales business process.

Cash sales are recorded in a cash register or

other secure device to provide documentation.


Cash sales business process1

Cash Sales Business Process

What is customer audit?

It is a general term used to describe

procedures in which the customer

acts as a control over the initial

documentation of a transaction.


Cash sales business process2

Cash Sales Business Process

What are some of these procedures?

Pricing in such a way that

the customer expects change

Awarding a customer free

items if the receipt has a mark


Pertanyaan

PERTANYAAN ???


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