Process flow for Cash Receipts
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14 Terms
1
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Receive and process purchase orders from customers
Sales
2
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Review customer credit
Credit
3
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Generates a prenumbered shipping document (bill of lading)
Shipping
4
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Process sales transaction to generate invoice
Billing
5
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Receive checks and Remittance Advice from customers
Mailroom
6
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Employee open mail and endorse checks for deposit only to the company’s acount
Mailroom
7
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Prepares control listing
Mailroom
8
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Prepared daily bank deposit intact
cashier
9
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Make daily deposit
cashier
10
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Update customer accounts with remittance advices
Accounts receivables
11
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File remittance advices, control listings, and sales receipt
Accounts receivables
12
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Reconcile control listing to validated deposit slip
Operations Control
13
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Reconciles banks statement to GL
Operating Control
14
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File control listing copy, bank statement, deposit slip
operating control
Note 
Flashcards (89)