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Accounting and Inventory Controls
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Operations Manager orders 1000 units online. Controls
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Accounting and Inventory Controls Operations manager calls Fin/Acct Manager to mail the check to supplier. Fin/Acct Manager takes the check to the post office to mail it.
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Accounting and Inventory Controls Inventory shipment is received at Brian’s house. FOB shipping Fin/Acct Manager calls the company Managers and President to notify them for inspection.
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Accounting and Inventory Controls Product is moved to company office for inspection. Managers inspect the order. This is a 100% inspection.
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Accounting and Inventory Controls After inspection is completed, product is logged into Inventory Manager’s inventory log.
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Accounting and Inventory Controls Salesman visits the office to pick up some inventory to sell. Inventory Manager logs out inventory on inventory log.
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Accounting and Inventory Controls Salesman makes a sale to a customer and generates three receipts: white, yellow, and pink. (carbon copy) One receipt goes to customer if wanted. One receipt goes to Inventory Manager. One receipt goes to Fin/Acct Manager.
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Accounting and Inventory Controls Salesman gives money to Fin/Acct Manager with copy of receipt. Salesman gives a receipt to the Inventory Manager.
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Accounting and Inventory Controls Fin/Acct Manager records weeks’ sales.
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Accounting and Inventory Controls Every Friday the Fin/Acct Manager gives Acct clerk a bank deposit slip and cash to make a deposit. After making the deposit, the Acct clerk returns the deposit receipt to Fin/Acct Manager.
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Accounting and Inventory Controls The Fin/Acct and Inventory Departments double-check records.
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