Anthropology 4400E Lecture Notes - Lecture 2: Subledger, Transaction Log, Remittance
13 Apr 2015
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Credit approval 1 copy of s/o sent to credit dept: authorization. Current credit limit = outstanding + current orders. Segregation of duties : credit dept. should not be processing cx ordered, supervision: printing + reviewing of sales/credit reports. Once approved, copies of s/o sent to warehouse and shipping dept. Warehouse picks goods and sends them to receiving dept. Warehouse staff has physical custody and therefore should not be updating accounting records. Shipping dept. reconciles physical items with s/o (independent verification) Then, send copy of shipping docs to billing department. Each batch is prepared with a batch transmittal sheet . Data processing clerk converts data from bts into digital form to produce a. Then, runs the edit program (input controls) to validate trans + each record for error (e. g. , field check, limit check, range check) Transactions with errors go to the error file + removed from transaction file: control total and # record are adjusted.
