The assistant controller oversees all cash management and activity , including the performance of the bank account reconciliation for each bank account held by
the company . The assistant controller compares the cash receipts journal and daily deposit records with the bank deposits and duplicate deposit slips during the
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