ASSIGNMENT
1.Is customers’ credit approved by a responsible official and is access to change credit limit master files restricted?
2. Is the recording of sales supported by authorized shipping documents and approved customer orders?
3. Is there adequate separation of duties between billing, recording sales, and handling cash receipts?
4. Are sales invoices prenumbered and accounted for?
1. Is a record of shipments maintained?
2. Are shipping documents controlled from the office in a manner that helps ensure that all shipments are billed?
3. Are shipping documents prenumbered and accounted for?
1. Is there independent comparison of the quantity on the shipping documents to the sales invoices?
2. Is an authorized price list used and is access to change the price master file restricted?
3. Are monthly statements sent to customers?
1. Does the computer automatically post transactions to the accounts receivable master file and general ledger?
2. Is the accounts receivable master file reconciled with the general ledger on a monthly basis?
1. Is there independent comparison of recorded sales to the chart of accounts?
1. Is there independent comparison of dates on shipping documents to dates recorded?
1. Is there identification of sales to related parties and major customers ?
