SISTEM INFORMASI AKUNTANSI

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Presentation transcript:

SISTEM INFORMASI AKUNTANSI ACCOUNT RECEIVABLES BUSINESS PROCESS AND CASH SALES

Describe the customer account management business process. Learning Objective 1 Describe the 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 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 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 Process There are two basic approaches to an accounts receivable application. What are these approaches? 1. Open-item processing 2. Balance-forward processing

Illustrate controls that apply to accounts receivable processing. Learning Objective 2 Illustrate controls that apply to accounts receivable processing.

Controls in the Accounts Receivable Business Process Cash Receipts Customer Receiving General Ledger Returned goods Remittance advices Control total Post

Controls in the Accounts Receivable Business Process Receiving Credit Billing Accounts Receivable General Ledger Invoices Control totals Sales return memo Independent count Approve sales return Journal voucher Sales return memo

Controls in the Accounts Receivable Business Process Customer Credit Billing Accounts Receivable Aged trial balance Periodic processing Credit memo Post Statements

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 Receivable General Ledger Accounts Receivable Treasurer Credit Internal Audit Aged trial balance Control total of write-offs Write-off memo 1 Write-off memo 1 Write-off memo 1 2 3 Write-off memo 3 File Worthless account list Confirmation of write-off sent to customer

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 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 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 PROCESS MAILROOM REMITTANCES ON ACCOUNT CUSTOMERS OPEN MAIL Separate Checks & Remittance Advices REMITTANCE ADVICES CHECKS PREP. REMITT. LIST ENDORSE & TOTAL A B

CASH-RECEIVED-ON-ACCOUNT BUSINESS PROCESS MAILROOM A B REMITTANCE LIST REMITTANCE ADVICES CONTROL TOTAL CHECKS FORWARD TO CASH RECEIPTS FORWARD TO A/R APPROVE REMITT LIST D C REMITTANCE ADVICES CONTROL TOTAL File by Date

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 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 BANK: INTERNAL AUDIT: 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 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 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 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 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 ???