Вы находитесь на странице: 1из 2


Who are the individuals responsible for sales order preparation, credit checks, safeguarding of physical inventories, shipping, billing, maintaining accounts receivable, and handling cash collections? How are these duties segregated to diminish the threat of errors or irregularities? The sales order preparation is usually prepared by the cashier or the one responsible in the counter. If someone orders on account, the owner, who also acts as the manager, would be responsible for credit checking while his assistant would maintain and record accounts receivables. In safeguarding physical inventories, the owner hired a custodian. He makes sure that the inventories are complete and not damaged. The shipping, on the other hand, is done by the delivery man hired by the owner while the billing is the responsibility of the assistant. Cash collections and handling is done by the owner himself. 2. What documents are used in the system? Are they designed in a manner that makes them easy to complete? Do they collect all the information needed to manage the various revenue cycle business activities? Do the reports generated by the system provide adequate information for decision making? Customer order, Sales order, Goods packing slip, Order acknowledgement, internal sales order, Picking slip and Invoice are the documents in their system that are related to the revenue cycle. These documents are created for the business only and it is designed for people to fill out easily. It is also understandable. According to the owner, data they collect or captured through source documents are needed by the company in their revenue cycle activities. This information is complete and accurate but the business may sometimes have problems with completeness since the documents are paper-based. Luckily, as the owner said, they can generate enough information for them to make decisions.

3. Are data stored in separate files or in a database? How is this information updated? What process is used to update the general ledger? The data that came from source documents are manually stored in separate files at the same time they are encoded and stored in the computer for further processing. Information is updated every time a new transaction is made and the data from the transaction are gathered, stored in the files and encoded in the computer. In updating the general ledger, the individual responsible records the transaction in a book and encodes the data in the computer. He/she will then check if the balance of the ledger account in the books matches with the balance in the computer. 4. Have an understanding of their revenue cycle system. Discuss how current developments in IT could be used to improve the efficiency and effectiveness of existing procedures. Based on what we have observed and the data we gathered, the company uses both manual and computer based system. We think that having a hybrid system would prove to be complicated for the business to manage. While it is not a problem for the company now, it may be a burden for the company in the near future. So as a business currently operating in the age of technology, they could adapt to the technological advances and development in IT. They could create a computer-based system that can help them generate information enough for decision making. They could improve the effectiveness and the efficiency of the activities with the use of these technological advances. For example, credit checking could be done online. They could have a database where data are stored and updated while maintaining backup files in case of problems. There are many things the business can do with these developments to improve their revenue cycle system.