Download presentation
Presentation is loading. Please wait.
Published byWillis Nash Modified over 9 years ago
1
Chapter 3-1 The Islamic University of Gaza Accounting Information System The Revenue Cycle Dr. Hisham Madi
2
Chapter 3-2 Automated Cash Receipts Procedures Mail Room The mail room clerk separates the checks and remittance advices and prepares a remittance list. These checks and a copy of the remittance list are sent to the cash receipts department. The remittance advices and a copy of the remittance list are sent to the AR department.
3
Chapter 3-3 Automated Cash Receipts Procedures Cash Receipts Department The cash receipts clerk reconciles the checks and the remittance list and prepares the deposit slips Accounts Receivable Department The AR clerk receives and reconciles the remittance advices and remittance list
4
Chapter 3-4 Point-of-Sale Systems Point of sale systems are used extensively in retail establishments. Customers pick the inventory from the shelves and take them to a cashier. The clerk scans the universal product code (UPC). The POS system is connected to an inventory file, where the price and description are retrieved. The inventory levels are updated and reorder needs can immediately be detected.
5
Chapter 3-5 The system computes the amount due. Payment is either cash, check, ATM or credit card in most cases. No accounts receivables If checks, ATM or credit cards are used, an on-line link to receive approval is necessary. At the end of the day or a cashier’s shift, the money and receipts in the drawer are reconciled to the internal cash register tape or a printout from the computer’s database. Point-of-Sale Systems
6
Chapter 3-6 CONTROL CONSIDERATIONS FOR COMPUTER-BASED SYSTEMS Authorization In POS systems, the authorization process involves validating credit card charges and establishing that the customer is the valid user of the card Supervision In a POS system, where both inventory and cash are at risk. Customers have direct access to inventory in the POS system, and the crime of shoplifting is of great concern to management.
7
Chapter 3-7 CONTROL CONSIDERATIONS FOR COMPUTER-BASED SYSTEMS Surveillance cameras and shop floor security personnel can reduce the risk. These techniques are also used to observe sales clerks handling cash receipts from customers. Access Control Because POS systems involve cash transactions, the organization must restrict access to cash assets. One method is to assign each sales clerk to a separate cash register for an entire shift
8
Chapter 3-8 CONTROL CONSIDERATIONS FOR COMPUTER-BASED SYSTEMS Access Control Inventory in the POS system must also be protected from unauthorized access and theft. Both physical restraints and electronic devices are used to achieve this. steel cables are often used in cloth- ing stores to secure expensive leather coats to the clothing rack
9
Chapter 3-9 CONTROL CONSIDERATIONS FOR COMPUTER-BASED SYSTEMS Accounting Records rest on reliability and security of stored digitalized data Accountants should be skeptical about the accuracy of hard-copy printouts. Backups - the system needs to ensure that backups of all files are continuously kept
Similar presentations
© 2025 SlidePlayer.com. Inc.
All rights reserved.