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bank account reconciliation.
Internal auditors will randomly review the bank account
reconciliations.
Cash Receipts and Accounts Receivable Processing
All cash receipts from customers related to sales are credited to
accounts receivable individual and control accounts. Cash receipts
are received by mail and
opened by the office secretary. The office secretary prepares the cash
receipt listing and daily deposit. A copy of the cash receipt listing and
duplicate deposit
slip is sent to the controller’s office. Another copy of the cash receipt
listing and the remittance advice are sent to the accounts receivable
clerk for posting.
The accounts receivable department posts credits to individual
customer accounts, dating the entries with the date of the remittance
advice and cash receipt
listing received.
Statements of accounts receivable balances are mailed to customers
each month by the accounts receivable accounting department.
Customers’ reports of
disputes or differences shall be handled by customer service.
Cash Disbursements
All disbursements are made by check, signed by the controller.
Artifact Two: Sample Audit Program