Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ACCOUNTING INFORMATION SYSTEM PLEASE I NEED SOMEONE CAN HELP ME THIS REVENUE CYCLE REVENUE CYCLE: ILLUSTRATIVE SYSTEM DOCUMENTATION Sendayu Senja Supplies Sdn Bhd is a

ACCOUNTING INFORMATION SYSTEM

PLEASE I NEED SOMEONE CAN HELP ME THIS REVENUE CYCLE

REVENUE CYCLE: ILLUSTRATIVE SYSTEM DOCUMENTATION

Sendayu Senja Supplies Sdn Bhd is a printing supplies company, which located in Penang. The company supplies printing materials to the printing companies around Penang, Kedah and Perlis. As an internal audit executive, you have been instructed by the manager of the company to prepare a documentation for an existing companys cash receipt procedure. At present, all the processes and accounting records maintained are fully in manual mode. Narrative of the procedure is described as follow:

Para 1:

A company secretary receives mails from customers which contains cheque and remittance advice. She compares the amount stated on the cheque and the remittance advice to ensure the accuracy of the payment made. She then completes a cheque receipt listing in duplicate copies. The first copy of the cheque receipt listing and cheques (in batch) are forwarded to cashier for deposit. Another copy of the cheque receipt listing together with the remittance advices (in batch), are taken to the accounts receivable department.

Para 2:

Cashier calculates to ensure total of the cheque amount agrees with cheque receipt listing. When the cheque amount agrees with the listing amount, the cashier prepares duplicate copies of deposit slips. The cheques and deposit slips will be taken to bank for deposit.

Para 3:

A validated deposit slip from bank is later used by cashier to update cash receipt journal and prepares a cash receipt summary. Finally, the cashier chronologically filed validated deposit slip and cheque receipt listing and forwards the cash receipt summary to general ledger department.

Para 4:

Accounts receivable clerk updates accounts receivable subsidiary ledger based on the amount stated in remittance advice and cheques receipt listing. Then, accounts receivable summary is prepared and forwarded to general ledger department. Finally, the accounts receivable clerk attaches cheque receipt listing to the remittance advice and filed by customer number.

Para 5:

At the end of each month, accounts receivable clerk prepares a customers monthly statement and accounts receivable aging report. The monthly statement is mailed directly to the respective customer while the aging report is forwarded to financial controller.

REQUIRED:

Prepare the following documentations to describe cash receipt processes applicable for Sendayu Senja Supplies Sdn Bhd.

(a) Table of Entities and Activities

(b) Context Diagram

(c) Physical DFD

(d) Logical DFD

(e) Document flowchart

(a) Table of entities and activities

Entity

paragraph

Activities

Secretary

1

Receive cheque and remittance advice from Customer

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Managerial Accounting Concepts

Authors: Thomas Edmonds

10th Edition

126410068X, 9781264100682

More Books

Students also viewed these Accounting questions

Question

13. Give four examples of psychological Maginot lines.

Answered: 1 week ago