1. Policies and procedures on the division of responsibilities
Company S has established the following policies and procedures to divide responsibilities:
(1) Incompatible jobs are separated. It mainly includes: the acceptance of orders and the approval of credit sales, the conclusion and approval of sales contracts, the separation of sales and delivery, the custody of physical assets and accounting records, and the approval and execution of collection.
(2) The relevant departments control each other and perform their duties within the scope of authorization, and the same department or individual may not handle the whole process of sales and collection business.
2. Introduction of main business activities
(1) sales
1) new customers
If it is a new customer, it is necessary to fill in the Customer Application Form first, and the sales manager will conduct a customer background investigation, obtain an evaluation report including the credit rating of the customer by the credit evaluation agency, fill in the Basic Information Form for New Customers, and submit the relevant materials to the credit management manager for approval.
The credit management manager ××× signed the Basic Information Form of New Customers, indicating whether or not to agree to sell on credit. Under normal circumstances, the credit line for new customers shall not exceed RMB ××××; If it is higher than this standard, it must be approved by the general manager.
According to the approved basic information table of new customers, the information administrator enters relevant information into Y system, and the system automatically establishes new customer files.
After completing the above process, new customers can do business with the company and issue purchase orders to S company.
For the initial order of new customers, it is not allowed to exceed the approved credit limit. If new customers can pay the payment in time and have good credit, they can trade as "existing customers".
2) Existing customers
After receiving the purchase order from the existing customer, the salesman XXX checks the order amount with the authorized credit line of the customer and the outstanding account balance, and submits it to the credit management manager XXX for review after being audited by the sales manager XXX. If it is a purchase order exceeding the credit limit, it must be approved by the general manager.
3) Sign a contract
After examination and approval, the authorized salesman XXX formally signed a sales contract with the customer.
The information administrator ××× is responsible for inputting customer purchase orders and sales contracts into Y system, and the system will automatically generate sales orders with serial numbers (at this time, the system will display "Pending" status). Every week, the information administrator checks the sales orders generated this week and will check any discontinuous numbers.
Weekly accounts receivable bookkeeper ××× summarizes all sales contracts signed this week, checks them with sales orders, and prepares sales information reports. If there is any discrepancy, XXX will inform XXX, the information administrator, and investigate the matter with XXX.
According to the "pending" sales order information displayed by the system, the salesman's "××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××
After starting production, the status of the sales order in the system will automatically change from "Pending" to "In Production".
[Note: Production link control activities are recorded in the audit working papers (SCL system) of production and storage cycles. ]
(2) Record accounts receivable
1) Record accounts receivable
After finished products are received, the status of sales orders in the system will automatically change from "In Production" to "Completed".
According to the "completed" sales order information displayed in the system and the delivery date agreed in the sales contract, the information manager will issue a numbered sales invoice (export invoice in sextuplicate) and submit it to the sales manager for review. The invoice stub is kept by the sales department, and the other copy is used for customs declaration, tax write-off, foreign exchange write-off and financial accounting.
After receiving the sales invoice, the voucher clerk of the customs declaration department goes through the customs declaration formalities, and then informs the salesman to fill in the delivery notice in the system to determine the delivery time. After the salesperson enters the sales order number, the number of the delivery notice will be automatically generated. According to the system settings, if the sales order number is entered incorrectly, the corresponding delivery notice will not be generated.
The transportation manager ××× arranges and organizes the delivery according to the delivery notification information displayed by the system.
The warehouse manager ×××××× arranges and organizes the finished product delivery.
After the cargo ship leaves the shore, the shipping company issues a bill of lading to inform S company of the time when the goods leave the shore.
The information administrator ××× inputs the offshore information of goods into the system, and the sales order status in the system automatically changes from "completed" to "offshore".
The accounts receivable bookkeeper checks the information contained in the sales invoice with the customs declaration and freight bill of lading according to the information of "offshore" sales orders displayed in the system. If all the documents are consistent, the accounts receivable bookkeeper ×××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××
If the verification is correct, the accounting supervisor ×××× stamped the word "consistent" on the invoice, the accounts receivable bookkeeper ×××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××
If the goods at the end of the period have been sent out but not yet offshore, the accounts receivable bookkeeper shall record the accounts receivable according to the outbound order and other documents, and rush back at the beginning of next month. When the "offshore" sales order information is displayed, the realization of sales revenue will be recorded.
Domestic sales are basically the same as export except that there is no need to go through export customs declaration procedures. The following control process records no longer involve domestic sales.
[Note: The control activities of finished product delivery are recorded in the audit working papers (SCL system) of production and storage cycle. ]
2) Sales returns, discounts and allowances
S company's sales business is mainly export sales, and the sales contract signed with customers stipulates that returns are not allowed. In case of quality dispute, a claim shall be filed and the accounts receivable shall be adjusted according to the amount determined by both parties. After the salesman receives the fax of the customer's claim and other materials, the claim amount of ×××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××× If this standard is exceeded, it shall be approved by the general manager.
The accounts receivable bookkeeper ×××× compiled the accounts receivable adjustment entries, and attached the properly audited customer claim processing form, which was submitted to the accounting supervisor ×××× for accounting treatment.
3) Reconciliation and variance handling
At the end of the month, the accounts receivable supervisor shall prepare the accounts receivable aging report, which shall also include the total accounts receivable and the general ledger of accounts receivable, as well as the check between the accounts receivable ledger and the customer statement. If there is any discrepancy, the director of accounts receivable, XXX, will investigate immediately. If the investigation results show that the accounting records need to be adjusted, the accounts receivable supervisor ×××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××
4) Bad debt preparation and bad debt write-off
The board of directors of S Company has formulated and approved the accounting estimation of the method and proportion of provision for bad debts of accounts receivable.
At the end of each year, the sales manager XXX prepares an analysis report on the recoverability of accounts receivable based on past experience, the actual financial situation of the indebted unit and cash flow, and submits it to the finance department for review.
The accounting supervisor's report on the recoverability of accounts receivable analyzes whether the proportion of bad debt provision has changed greatly compared with the original estimate. If there is any major change, the accounting supervisor ×××× shall put forward a proposal for changing the accounting estimate, which shall be reviewed by the financial manager ××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××
The bad debt reserve of Company S is automatically calculated and generated by the system. For the bad debts that need special provision for bad debts and need to be written off, the salesman ×××× shall fill in the Application Form for Bad Debt Change and attach the serial number, and attach relevant information such as customer bankruptcy. With the approval of the sales manager, the following amount. }
Accounts receivable bookkeeper ××× shall handle accounts according to the formally approved change application form.
(3) Record tax
The voucher clerk of the customs declaration department is responsible for collecting the relevant documents of export sales, summarizing them at the end of each month and submitting them to the tax collector of the finance department for review, and handling the export tax refund procedures. Submit the VAT tax declaration form and the final settlement list of export tax rebate confirmed by the tax department to the financial manager for review every month, and sign it for confirmation after it is correct. If any abnormality is found, it will be further investigated and handled.
When the tax department actually receives the tax refund, the accountant in charge will check the actual tax refund with the tax refund declaration number, and the financial manager will check it, and sign the voucher as the audit voucher after it is correct.
It is more effective to implement substantive procedures for taxes involved in the sales and collection cycle, so taxes will not be involved in the subsequent control procedures.
(4) Raising funds
When the letter of credit expires or the customer has received the payment notice, the cashier will go to the bank for collection.
After the payment is received properly, the accounts receivable bookkeeper ×××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××
After examining the receipt voucher and related documents, the accounting supervisor ×××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××
The cashier should register the deposit journal in time according to the verified receipt.
(5) Maintain customer files
If you need to modify the customer information in Y system, the salesman should fill in the change application form and submit it to the information administrator.
The information manager checks the customer files every month. For customers who haven't done business with S company within two years, inform the salesman to fill in the change application form, and submit it to the information management department for deletion after approval by the sales manager.
At the end of each month, the information administrator prepares the monthly customer information change report and submits the change application number record to the financial manager for review.
The financial manager shall check the monthly customer information change report, check whether the actual changes are consistent with the change application form, whether all changes are properly approved, and whether the numbering record is correct, and sign the monthly customer information change report and numbering record form as the basis for audit. If any abnormality is found, it will be further investigated and handled.
The sales manager checks the customer files every six months.
Related transactions and account balances affected by the control objectives of major business activities and their identification; The auditee's control activities control test procedure sales only accept orders receivable within the credit limit: pricing and distribution management review and approve the credit limit. If it is a new customer, the sales manager XXX will conduct a customer background investigation and obtain the evaluation report of the credit rating agency on the customer's credit rating. , fill in the "Basic Information Form for New Customers" and submit it to the credit management manager for approval. The credit management manager ××× will sign the "Basic Information Form for New Customers", indicating whether to agree to credit sales. Under normal circumstances, the credit line granted to new customers shall not exceed RMB ××××; If it is higher than this standard, it must be approved by the general manager. If it is an existing customer, the salesman XXX will check the order amount with the customer's authorized credit limit and the outstanding account balance, and submit it to the credit management manager XXX for review after being reviewed by the sales manager XXX. If it is a purchase order exceeding the credit limit, it must be approved by the general manager. Extract the basic information table of new customers and check whether the credit line is approved according to the policy. Extract existing customer orders and check whether they have been properly audited. Price and conditions of sales orders approved by management Accounts receivable: There is main business income: management must approve all sales orders, and sales exceeding a certain amount or with abnormal gross profit must be approved by superior management. For the initial order of new customers, it is not allowed to exceed the approved credit limit. If new customers can pay the payment in time and have good credit, they can trade as "existing customers". After receiving the purchase order from the existing customer, the salesman XXX checks the order amount with the authorized credit line of the customer and the outstanding account balance, and submits it to the credit management manager XXX for review after being audited by the sales manager XXX. If it is a purchase order exceeding the credit limit, it must be approved by the general manager. Extract new customer orders and check whether the contents of recorded sales orders meet the approved credit limit. Accurate accounts receivable: valuation and distribution of main business income: accuracy and classification. The person who is not responsible for entering the sales order compares whether the sales order data is consistent with the supporting documents. The information manager XXX is responsible for inputting the customer purchase order and sales contract information into the Y system, and the system will automatically generate consecutive numbered sales orders (at this time, the system will display the status of "Pending"). Every week, the information administrator checks the sales orders generated this week and will check any discontinuous numbers. Weekly accounts receivable bookkeeper ××× summarizes all sales contracts signed this week, checks them with sales orders, and prepares sales information reports. If there is any discrepancy, the accounts receivable bookkeeper will inform the information administrator whether the discrepancy has been investigated and dealt with. The sales order has been processed. Accounts receivable: integrity main business income: integrity sales orders and sales invoices have been numbered continuously and recorded in order. The information administrator ××× is responsible for inputting customer purchase orders and sales contracts into Y system, and the system will automatically generate sales orders with serial numbers (at this time, the system will display "Pending" status). Every week, the information administrator checks the sales orders generated this week and will check any discontinuous numbers. Record all the records of accounts receivable. Sales have indeed issued commodity accounts receivable: existence, rights and obligations. Main business income: sales invoices should be checked with outbound documents, and any discrepancy should be investigated and handled in time. After the cargo ship leaves the shore, the shipping company issues a bill of lading to inform S company of the time when the goods leave the shore. The information administrator ××× inputs the offshore information of goods into the system, and the sales order status in the system automatically changes from "completed" to "offshore". According to the "offshore" sales order information displayed by the system, the accounts receivable bookkeeper checks the information contained in the sales invoice with the customs declaration and freight bill of lading. If all documents are consistent, the accounts receivable bookkeeper ×××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××× At this time, the status of the purchase order in the system will automatically change from "Offshore" to "Processed". Select sales order, sales invoice, delivery notice and delivery note, and check whether their contents are consistent. The recorded sales transactions are accurately priced. Accounts receivable: pricing and distribution of main business income: accuracy and classification. Check with customers regularly, and investigate and handle the differences in time. At the end of the month, the accounts receivable supervisor shall prepare the accounts receivable aging report, which shall also include the total accounts receivable and the general ledger of accounts receivable, as well as the check of the accounts receivable ledger with the customer's statement. If there is any discrepancy, the director of accounts receivable, XXX, will investigate immediately. Check whether it is consistent with the amount of accounts receivable subsidiary ledger, and if there is any difference, whether it has been investigated. Rights related to recording accounts receivable and selling goods have been recorded in accounts receivable: income from main business of honesty: sales orders and sales invoices of honesty have been numbered consecutively and recorded in sequence. According to the "completed" sales order information displayed in the system and the delivery date agreed in the sales contract, the information manager will issue a numbered sales invoice (export invoice in sextuplicate) and submit it to the sales manager for review. The invoice stub is kept by the sales department, and other copies are used for customs declaration, export bill, tax write-off, foreign exchange write-off and financial bookkeeping. The accounts receivable bookkeeper checks the information contained in the sales invoice with the customs declaration and freight bill of lading according to the information of "offshore" sales orders displayed in the system. If all the documents are consistent, the accounts receivable bookkeeper ××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××× At this time, the status of the purchase order in the system will automatically change from "Offshore" to "Processed". Select sales order, sales invoice, delivery notice and delivery note, and check whether their contents are consistent. Accounts receivable that record sales returns, discounts and discounts are real accounts receivable: income from the main business of Integrity: Integrity management formulates policies and procedures on sales returns, discounts and discounts, and supervises their implementation. S company's sales business is mainly export sales, and returns are not allowed in the sales contract signed with customers. In case of quality dispute, a claim shall be filed and the accounts receivable shall be adjusted according to the amount determined by both parties. After the salesman receives the fax of the customer's claim and other materials, the claim amount of ×××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××× If this standard is exceeded, it shall be approved by the general manager. Extract the customer claim processing table and check whether it really happens. Record sales returns, discounts and discounts on accounts receivable. Accounts receivable have been recorded: income from main business: reconciliation with customers on a regular basis, and timely investigation and handling of differences. At the end of the month, the accounts receivable supervisor shall prepare the accounts receivable aging report, which shall also include the total accounts receivable and the general ledger of accounts receivable, as well as the check between the accounts receivable ledger and the customer statement. If there is any discrepancy, the director of accounts receivable, XXX, will investigate immediately. Select the customer statement and check whether it is consistent with the amount in the accounts receivable subsidiary ledger. If there is any difference, whether it has been investigated and handled. Sales returns, discounts and discounts that have occurred are recorded in the appropriate period. Accounts receivable: existence and completeness. Main business income: the forms used to record sales returns, discounts and concessions have been numbered continuously, and orders have been recorded. After receiving the fax of the customer's claim and other materials, the salesman will extract the customer's claim for processing. Record sales returns, discounts and discounts on accounts receivable. Accounts receivable have been accurately accounted for: pricing and distribution of main business income: accuracy and classification. Management reviews and approves the adjustment of accounts receivable. After the salesman receives the fax of the customer's claim and other materials, the claim amount of ×××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××× If this standard is exceeded, it shall be approved by the general manager. Extract accounting vouchers, check whether the amount is consistent with the customer's claim processing table, and review it appropriately. Accurately withdraw bad debt reserve and write off bad debts, and record them in an appropriate period. Accounts receivable: existence, completeness, rights and obligations: bad debt provision: pricing and distribution, completeness, existence of bad debt provision fee for management review, including considering whether to record it in an appropriate period. The board of directors of the company has formulated and approved the accounting estimation of the accrual method and accrual ratio of bad debt provision for accounts receivable. At the end of each year, the sales manager XXX prepares an analysis report on the recoverability of accounts receivable based on past experience, the actual financial situation of the indebted unit and cash flow, and submits it to the finance department for review. The accounting supervisor's report on the recoverability of accounts receivable analyzes whether the proportion of bad debt provision has changed greatly compared with the original estimate. If there is any major change, the accounting supervisor ×××× shall put forward a proposal for changing the accounting estimate, which shall be reviewed by the financial manager ×××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××× The bad debt reserve of Company S is automatically calculated and generated by the system. For the bad debts that need special provision for bad debts and need to be written off, the salesman ×××× shall fill in the Application Form for Bad Debt Change and attach the serial number, and attach relevant information such as customer bankruptcy. After the approval of the sales manager, the following amount shall be accounted for by the accounts receivable bookkeeper according to the formally approved change application form. Extract the receivable analysis report issued by the sales department. Check whether to prepare suggestions for changes in accounting estimates, and report them to the board of directors for approval after being reviewed by the financial manager. Collection and collection are real accounts receivable: integrity, rights and obligations. The management reviewed the collection records. When the letter of credit expires or the customer has received the payment notice, the cashier will go to the bank for collection. After the payment is received properly, the accounts receivable bookkeeper ××× will prepare the receipt voucher and attach relevant documents, such as bank settlement memo and bank payment notice, and submit them to the accounting supervisor for review. After examining the receipt voucher and related documents, the accounting supervisor ××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××× Extract the receipt and check whether it has been checked by the accounting supervisor and stamped with the "Write-off" seal. Accurately record the collection of accounts receivable: valuation and distribution managers review the collection records. Accounts receivable bookkeeper XXX will prepare receipts and attach relevant documents, such as bank settlement memorandum and bank payment notice. , submitted to the accounting supervisor for examination and approval. After the accounting supervisor ××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××× The cashier should register the cash and deposit journal in time according to the verified receipt. Extract the receipt and check whether it has been checked by the accounting supervisor and stamped with the "Write-off" seal. Monitor accounts receivable and collect accounts receivable in time: rights and obligations: prepare and analyze accounts receivable aging report regularly. At the end of the month, the accounts receivable supervisor should prepare the accounts receivable aging report. Extract the accounts receivable aging analysis report and check whether it is compiled and audited. Maintaining customer files is true and effective. Changes in accounts receivable customer files: complete, main business income: complete, change. Customer document applications shall be numbered consecutively, and the numbering sequence shall be recorded. The information administrator is responsible for assigning the number to the change application form in advance and making changes in the system. The financial manager shall check the monthly customer information change report, check whether the actual change is consistent with the change application form, whether all changes are properly approved, and whether the numbering record is correct, and sign the monthly customer information change report and numbering record as the basis for audit. If any abnormality is found, it will be further investigated and handled. Extract the monthly report of change summary, and check whether the accounts receivable with accurate changes in customer files have been rechecked: pricing and distribution of main business income: accuracy, and classify and check the change records of customer files and original authorization documents to ensure that they have been handled correctly. If it is necessary to modify the customer information in Y system, the salesman will fill in the change application form and submit it to the information administrator. If any abnormality is found, it will be further investigated and handled. The sales manager checks the customer files every six months. Check whether the monthly number record table has been rechecked. Maintain customer files. Changes in customer files have been dealt with within an appropriate time. Accounts receivable: rights and obligations, existence and integrity. Main business income: complete and changeable. Customer document applications shall be numbered consecutively, and the numbering sequence shall be recorded. The information administrator is responsible for assigning the number to the change application form in advance and making changes in the system. The financial manager shall check the monthly customer information change report, check whether the actual change is consistent with the change application form, whether all changes are properly approved, and whether the numbering record is correct, and sign the monthly customer information change report and numbering record as the basis for audit. If any abnormality is found, it will be further investigated and handled. Select the change summary monthly report to check whether it has been approved. Ensure that customer file data is updated in time. Accounts receivable: rights and obligations, existence and integrity. Main business income: completeness and occurrence. The management regularly reviews the correctness of supplier documents and ensures that they are updated in time. The information manager checks the customer files every month. For customers who have not done business with company S within two years, the salesman is ××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××××