I need help for part c of the question, which is to make a to-be flowchart for p2p and o2c, please help, thank you!!!

Procure2Pay (P2P) Manages procurement, purchase, order fulfilment and payment process. Files accessed by P2P include but not limited to: Vendor Master file (which contain approved vendor's details and their purchase history), Supplier's Invoice file, Supplier's Remittance Advices, Purchase Journal, Good Receipt Note, Accounts Payable Subsidiary Ledger, Accounts Payable Voucher file, Cash Disbursement Journal, Cheque log file. Record2Report (R2R) Manages transactions recording and reporting process. Files accessed by R2R include but not limited to: Chart of Accounts, General Ledger, log files for various events captured, ORDER TO CASH PROCESS Sales Department Customers send their orders by mail or fax to the sales department. Upon receiving an order, a sales clerk checks the credit worthiness via a terminal the customer record in Money Talk's Customer Master file to review the available credit before creating a Sales Invoice record. For customers with no or insufficient available credit, the clerk submits the order to the credit manager for approval. If granted, the credit manager verbally authorizes and instruct the clerk to offer or increase the customer's line of credit accordingly. For approved sales, a record is added to the Sales Invoice file in Money Talk's O2C system which automatically assigns an Invoice Number, which is the primary key for the record. The clerk manually enters the remainder of the order data. Chai Wan Warehouse Based on input from the sales invoice, the computer terminal at Chai Wan Warehouse retrieves from Money Talk's O2C system and automatically prints a Stock Release, which the Chai Wan Warehouse staff uses to pick the goods. The goods are sent to the Shipping Department along with the Stock Release. Once the goods have left the Chai Wan Warehouse, the clerk at the warehouse update the Money Talk to confirms to the system the quantity sold and the system automatically updates the Quantity on Hand field in the respective inventory record in the Inventory Subsidiary Ledger. Shipping Department The Shipping Department upon receiving the goods from the warehouse, checks and prepares them for shipment, selects a carrier and prepares the Packing Slip and Bill Of Lading (BOL). Once the goods are shipped, the clerk update Money Talk to record the shipment to the Shipping Log file.Billing Department At the end of the day Money Talk automatically searches the Sales Invoice and Shipping Log les for items shipped and prepares a hard copy Customer Invoice, which is mailed to the customer the next day. Cash Receipts Tiffany, the cash receipts clerk, receives the customer cheques and Remittance Advices directly from the customer. She records this transaction by entering the Invoice Number (taken from the Remittance Advice) into Money Talk. The system automatically creates a Cash Receipts record. Tiffany then manually adds the customer number, amount, and payment date to the Cash Receipts record. At the end of the day she prepares a deposit slip and sends the cheques to the bank. She les customers' Remittance Advices in her ofce. PROCURE TO PAY PROCESS Order Fullment Each morning Eric reviews an automatically generated Inventory Status Report from his office terminal. He determines the items that need to be reorder and decides which suppliers from the Vendor le. Eric then creates a Purchase Order which is recorded in the Purchase Order le. The system assigns each new record a unique number (PO Number) as the primary key. Eric input into Money Talk's P2P system the PO date, what product to be ordered, order quantity, expected unit cost (the extended purchase cost is automatically calculated by the system), and the 1]) number of the selected vendor. The Purchase Orders are then printed at Eric's terminal, signed by him, and mailed by his secretary to the respective suppliers. Goods Receiving When the products are received at the Receiving Bay which is situated at adjacent to the Chai Wan Warehouse, a receiving clerk counts and inspects them. The clerk adds a record to the Good Receipt Note (GRN) le in Money Talk from the terminal in the receiving area. The system assigns a unique key (GRN Num) to each record. Based on vendor's documents such as Goods Delivery Notes or Packing Slip or Bill of Lading, or a combination of these documents, the clerk manually enters the Purchase Order number, product number(s), quantity received, vendor ID number, and the date of receipt. The receiving sub-system in P2P is not particularly user friendly. If errors are made during data entry, the clerk must void the GRN and begin over with a new GRN record. The voided GRN record is then automatically purged from the GRN file and the system assigns the next GRN Number in sequence to the revised GRN. As a result, sequence gaps exist in the GRN le indicating the missing records. The products are then sent to the Chai Wan Warehouse where they are stored. At the end of the day before leaving work, the receiving clerk prints a hard copy of the GRN listing of the day's receipts (including any voided GRNs), which is sent to Eric Wong's ofce for his review. Chai Wan Warehouse After Eric has reviewed the GRN listing, he manually inputs the system-assigned GRN Number to the corresponding Purchase Order record to indicate that the product has been received. The system automatically updates the Quantity on Hand eld in the Inventory Subsidiary Ledger from the Quantity eld in the Purchase Order record. Accounts Payable Kimberly Chan, the Accounts Payable clerk, receives the supplier's invoices. Using the PO number from the invoice as a search key, she matches the invoice with the corresponding Purchase Order/payment record. She veries that the items invoiced have been received by observing that a GRN Number has been placed in the Purchase Order record. She then adds a record to the Accounts Payable Voucher le. The system assigns a unique key (Voucher Number) to each record. Kimberly inputs manually the following data directly from the supplier's invoice: Purchase Order number, vendor number, supplier invoice number, full amount due, discounted amount due, and due date. The due date is selected to take advantage of purchase discounts. Finally, Kimberly les the vendors invoice in her office ling cabinet. Cash Disbursements Each day, Mariyam in the Cash Disbursements department reviews the Accounts Payable Voucher le for items due to be paid that day. For each item due, he adds a record to the Cheque Log. The system assigns it a unique key (Chq Number) and Mariyam manually adds the following data to the Cheque Register record: voucher number, vendor number, amount of payment, and date. The system automatically places the cheque number in the appropriate Accounts Payable Voucher record to indicate that payment has been made. The cheques are written up in Mariyam's ofce and then reviewed and signed by Jasper Lam, the department manager. A sample System Flowchart of a networked 02C (based on Hall J.A. 10th Edition Chapter 4, Internal Control Case 6 - "Outdoor Adventure" in Topic 4 Tutorial Assignment) is given as below for reference amendment Sales Computer Operations Warehouse Shipping Record Credit Customer History Printer Stock Release Customer Credit Printer Order chack Stock Release Packing Sales document Sip Terminal Raw M & Mak Update Process Iw. Sub Custama Stock Stock Order Release anding 2 Packing Dil of Invoice Sin AR Sub Landing 1 Lodpar Inventory Record Customer Management Camer Mail Rook Computer Operations Cash Receipt Customer Read, Reconcile, Update Printer Cheque Remittance Deposit Advice Slip Cheque General AR Sub Ledger Ledger Machine Scan Cash Receipt Fike Management Bank Reports ManagementFourseas Wholesaler Limited CASE BACKGROUND Fourseas is a wholesaler of sundries goods to business customers in Hong Kong. Fourseas gains its competitive edge by offering a wide variety of quality food products at competitive prices, which goods ranging from frozen sea food to toilet papers, bottled drinks and canned food. Fourseas is a publicly listed in the Hong Kong Stock Exchange and your firm has been appointed as its auditor. You are the manager in-charge of this year's audit and you are currently examining Fourseas' business processes such as order-to-cash and procure-to- pay processes and related accounts. Fourseas' head quarter is in its Chai Wan where the Chai Wan Warehouse is located. The following describes Fourseas' system configuration and business processes. MONEY TALK SYSTEM Overview Fourseas recently purchased and installed Money Talk, an accounting information system that runs on a client-server network configuration. Eric Wong, a systems analysist in Fourseas' IT department led a team in system specification, business analysis, system modification and system implementation the Money Talk to meet Fourseas' specific needs. Upon Money Talk's being successfully installed and went live, Eric continued to oversee the initial running of the new Money Talk to ensure a smooth cut-over from the old legacy system. After six months, Eric Wong was promoted to Chai Wan Warehouse Manager with responsibility for product purchasing function. Money Talk comprises of the following modules: Order2Cash (02C) Manages revenue and cash receipt process. Files accessed by O2C include but not limited to: Customer Master file (which contain approved customer's detail and their sales and credit history and credit worthiness analysis), Sales Invoice file, Sales Journal, Accounts Receivable Subsidiary Ledger, Cash Receipt Journal, Shipping Log, BOL file, Packing Slip file.Purchase Computer Receiving Chai Wan Account Payable Cash Disbursement Department Operations Department Warehouse Valid GRN Terminal Check Vendors Vendor goods listing file Supplier's Inventory Terminal Match Invoice Status PO Purchase GRN Report Order file and Supplier's Match Invoice GRN PO Prepare Invoice 1 PO 3 GRN file Update and Prepare Printer Inventory PO cheque Terminal Inventory Enter Sub GRN B listing Printer Ledger Invoice Manager AP Supplier's A Vouncher Invoice Sign PO file cheque File Sign Cheque PO Log B Secretary Cheque Register Vendors As-is Procure to PayOrder to Cash Number Exposure Risk Internal Control 1 Manager authorizes the clerk to increase the credit line of the customer The clerk may be tempted to increase the credit line of the customer if The credit manager should approve the credit line in accordingly verbally, instead of approving the increase in the credit line of there is a collision between the customer and the clerk without the writing. This will prevent the clerk from approving the orde the customer in writing, in order to provide evidence that the transaction approval of the manager, as the clerk may say that the manager has to their acquaintances and bad debts will be avoided. was authorized. been verbally approved as usual, which may cause losses if the action is not identified. 2 The shipping department does not create shipping notice and send it with The billing department does not have the shipping notice and stock Shipping department should create a shipping notice and stock release to the billing department. release for reference to bill the costumers. The records may be send it with the stock release to the billing department. different. Then, the billing department should reconcile the stock release and shipping notice for accuracy and then bill the costumer. 3 Tiffany, the cash receipts clerk receives the cheques, and the remittance A collision between the person creating the sales invoice and the Segregation of duties. The cash receipts department should advises directly from the customer, also record the transaction into the accounting clerk may result in losses for the company, as the invoice have another manager in charge for receiving Money Talk. There will be conflict of interest for the same clerk receiving may be inflated in order to obtain extra money from the customer the customers' remittance advices and cheques, provide and recording. illegally if the manager does not approve the transitions. another clerk for recording the transaction. Procure to Pay Number Exposure Risk Internal Control 1 The purchase orders are printed on Eric's terminal, signed by him By allowing Eric to sign the document, he will authorize his own transaction. Eric Segregate the duty of selecting vendor to other identifies the goods needed to be replenished, selects the vendor and records the person in department. order in the order file, thus making the transaction his own transaction. 2 The person who identifies the products to be replenished should not There may be a collision between the person requesting replenishment and the Segregate the duty be the same person who identifies the vendor to supply the goods in vendor where the vendor may give such incentives to the person identifying the of requesting replenishment to other person order to stop ordering the goods in the market. products to be replenished in order for the vendor to deliver the goods to the in department . company. 3 After checking the receipts, Eric manually attaches the system- Eric can do the fraud easily by converting the goods to usable form. Eric signed the purchasing order so he should not b assigned RR number to the corresponding Purchase Order record to responsible for authorizing the receipt of the goods show that the product has been purchased. in order to prevent loss of goods. He can approve that the goods have been received but are not complete and thus cause a loss of goods. 4 Mariyam in the Cash Disbursements department checks the Voucher There may be a risk for billing schemes like pay the bill twice and get the one of There should be proper authorization for payment Payable file for things to be paid on that day, after some recordings, payment by a senior manager to avoid payments that were the system automatically places the check number in the relevant already settled. Voucher Payable record to show that payment has been made.Sales Department Computer Operations Billing Chai Wan Shipping Cash Receipt Department Warehouse Department Terminal Stock Customer Customer Customer master file Terminal release Printer Credit Cheques Customer Stock Reconcile Check Invoice release and ship Remittance Packing Customer Advice Slip Order Bill of Approved Pick Lading Sales order Goods Stock Customer Bill of release Lading Terminal Terminal Update Stock Process release Update Cash Remittance the Receive Advice Sales Record Invoice file Update terminal the terminal Deposit Slip Inventory Deposit Sub-Ledger Slip Inventory Shipping Record Cheques Log file A Inventory Carrier To-be Order to Cash Sub-Ledger BankSales Department Computer Operations Billing Chai Wan Shipping Cash Receipt Department Warehouse Department Customer Terminal Stock Customer Customer master file release Terminal Printer Credit Stock Check Cheques Check Customer release goods Remittance Packing Customer Invoice Advice Slip Order Bill of Approved Pick Sales order Goods Stock Lading release Bill of Customer Lading Terminal Terminal Update Stock Process release Update Cash Remittance Sales the Receive Advice Invoice file terminal Record Update the terminal Deposit Slip Inventory Sub-Ledger Deposit Slip Inventory Cheques Shipping Record Log file A Inventory Carrier As-is Order to Cash Sub-Ledger Bank