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categories: cosmetics, skin care, fragrance, and personal care.
Charges to customer accounts should be dated with the date of
shipment.
Sales invoices are prepared in batches on a daily basis using
numbered sales invoices. Sales invoice numbers are automatically
generated by the company’s
computer system. The accounts receivable clerk does not have
appropriate computer rights to override the computer-generated
invoice number. Upon
preparing sales invoices, the accounts receivable clerk verifies that
the first invoice number of the batch is consistent with the last invoice
number of the
previous batch. Inconsistencies or skipped sales invoice numbers are
investigated and resolved before new sales invoices are prepared. The
items shipped are
compared to the items billed for proper quantity, price, and other
sales order terms.
The accounting department supervisor compares and reconciles a
copy of the daily sales invoice batch report to the daily accounts
posting report indicating the
individual accounts. The daily account posting report is prepared and
sent by the accounts receivable department. Discrepancies are
investigated and resolved
to help assure that the customer subsidiary accounts are posted for
the same total amount posted to the control account.