Question
When developing the policies and procedures in relation to credit sales, outline the processes you would include in relation to: o checking invoices o preparing
When developing the policies and procedures in relation to credit sales, outline the processes you would include in relation to: o checking invoices o preparing journal entries for these invoices o authorising these journal entries o filing invoices for auditing purposes (this may be related to the invoice numbering system) Note: The learning content for these questions may not be found solely in the textbook. Use your understanding of recording credit sales to arrive at your answers and research other sources to assist you. For example, preparing invoices would include ensuring that an invoice contains an invoice number, company details, customer details, details of the good sold and credit terms. a. Process for checking invoices: b. Process for preparing journal entries for these invoices: c. Process for authorising these journal entries: d. Process for filing invoices for auditing purposes (this may be related to the invoice numbering system
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