Documents in the Revenue Process

(I need help with the second part of HOW IT'S USED)

1. Identify the document (Document)

2. How is the document going to be used to support audit procedures related to Test of controls & substantive procedures for these higher inherent risk assertions (How its used)

1. This document is mailed to the customer and contains details of all sales, cash receipts, and credit memorandum transactions.
   • Document: Customer Statement
   • How its used:
2. This ledger contains an account and the details of transactions for each customer.
   • Document: Accounts Receivable Subsidiary Ledger
   • How its used:

3. This report summarizes all the customer balances in the accounts receivable subsidiary ledger. Each account is classified as current or placed into one of several past due categories.
   • Document: Aged Trial Balance of Accounts Receivable
   • How its used:
4. This is usually the part of the customers bill that should be returned with the payment.
   • Document: Remittance Advice
   • How its used:
5. This journal is used to record the cash receipts of the entity.
   • Document: Cash Journal
   • How its used:
6. This document is used to record credits for the return of goods by a customer.
   • Document: Credit Memorandum
   • How its used:
7. This document authorizes the write-off of an uncollectible account receivable. Final approval is generally authorized by the treasurer.
   • Document: Write- Off Authorization
   • How its used: