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Revenue and Receipt Cycle: CR Sales (C Dispatch function (Counter Sales…
Revenue and Receipt Cycle: CR Sales
Accounts directly affected: Sales, Returns, Discount, Bad Debts, Allowance for bad debts, Receivables,VAT
Accounts indirectly affected: Bank, CoS, Inventory
Credit Sales
Docs: CO;ISO;PKS;DLN;SINV;SJ;DL;GL; DTS
A Credit control function
New Customer
CR App Form; BCheck; CR Lmt; Cust info; Auth changes cust info
Existing customer
Validate cust: Details or acc no. Check trans withing CR Lmt
Function + = Lower risk for All BD
B Ordering Function
Seq no ISOs
Clerk conf dets & sign conf func performed
CR Man auth ord after vld cust, CR Lmt, clerk reviewed
Reg agreeing DLNs to ISOs = Find outstanding ords
C Dispatch function
Dlvs rec pre-no DLNs
ISOs matched to DLNs
Security agree DLV stock to DLN & sign @ exit
Cust sign DLN & keep copy
Follow up outstanding ords
Counter Sales
Cust sign inv & Sec check bags
Flow = PKS/ISO - Pickng - DLN - Auth & Sent - DLN signed
Work = reduce risk of unauth removal
D Invoice Function
All sales pre-no INV
Math accu test
Matching
Cust dets - Master file
INV - DLN = Conf Qnty & Descr Goods
Price = Auth P list
Flow = ISO - DLN - P Lst - ISO & DLN & Inv Mtch - Send Inv
Credit Notes
Clerk cnt, conf goods received & insp damage
GRN
CN auth - SNR OFF
Check suspicious / significant CNs
Cancel docs for org sale
Flow = Goods ret - Inspect - GRN - Auth GRN - CN
Work = lower risk of inaccurate invoicing
E Revenue Recroding Function
Mtch INV - signed DLN
Check seq of INV, Man chk missing
Trace trans SJ - DL - GL
Flow = INV - SJ - GL - DL -TB
Cut off monit
Reconcile movt cont acc OPB & CLB
Analytical analysis sales v budget