Accounting for Sales and Accounts Receivable

Feb 12, 2013

390 likes | 541 Views

Share Presentation

Embed Code

Link

oya

Download Presentation

Accounting for Sales and Accounts Receivable

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

Accounts Receivable

Collections representatives are releasing sales orders for customers with past due accounts or who are exceeding their credit limit (Cont. ...

2.38k views • 27 slides

Accounts Receivable, Notes Receivable and Revenue

Learning Objectives. Describe the nature of receivables.Describe the documents, records, and accounts that comprise the revenue (sales) transaction cycle.Identify and explain the fundamental controls over receivables and revenue.. 11-2. Learning objectives. Design typical test of control s used by auditors to assess control risk for the financial statement assertions related to receivables and revenue.Describe the auditors' objectives for the audit of receivables and revenue.Explain the nat1145

1.06k views • 12 slides

Accounts Receivable, Notes Receivable and Revenue

Chapter 11. Accounts Receivable, Notes Receivable and Revenue. Controlling customers’ orders Credit approval Issuing merchandise Shipping Billing Adjustments to sales and receivables. Internal Control Over the Revenue Cycle. Customer purchase order Sales order

418 views • 11 slides

Accounts Receivable

Accounts Receivable. Generally, two major issues:. How to Record Sales Discounts How to Record Doubtful Receipts. Accounts Receivable. Discounts. The most prevalent is the cash discount for early payment on the account. Example: 2/10, n/30. Accounts Receivable. Discounts.

708 views • 34 slides

Accounts Receivable, Notes Receivable and Revenue

Chapter 11. Accounts Receivable, Notes Receivable and Revenue. Internal Control Over the Revenue Cycle. Controlling customers’ orders Credit approval Issuing merchandise Shipping Billing Adjustments to sales and receivables. Revenue Cycle--Documents .

539 views • 11 slides

Accounts Receivable

Accounts Receivable. SAP Best Practices. Purpose, Benefits, and Key Process Steps. Purpose This scenario deals with posting accounting data for customers in Accounts Receivable. Benefits The Accounts Receivable is also an integral part of sales management.

717 views • 7 slides

Accounts Receivable, Notes Receivable and Revenue

Accounts Receivable, Notes Receivable and Revenue. Controlling customers’ orders Credit approval Issuing merchandise Shipping Billing Adjustments to sales and receivables. Internal Control Over the Revenue Cycle. Customer purchase order Sales order

365 views • 11 slides

Accounts Receivable

Accounts Receivable. 1/2013. Mission Statement. The Accounts Receivables Department is responsible for timely collection of unpaid freight charges for transportation services provided. Department Structure. Tier One 1 st point of contact Begins calling on Day 31

278 views • 13 slides

Accounts Receivable

Accounts Receivable. Chapter 27. Objective . Use the Accounts Receivable Aging Dashboard. Key Concepts. No payments Underpaid Overpaid Denied No follow-up With follow-up Payments not yet applied Unidentified . Accounts R eceivable Aging. Figure 27-1

459 views • 10 slides

Accounts Receivable and Deposits

Accounts Receivable and Deposits. Health Science Center Office of Finance & Administration Paula H. Cadena (979) 436-9236 pcadena@tamhsc.edu. Objectives. Explain basic Accounts Receivable process at HSC Review screens utilized for Accounts Receivable inquiry

515 views • 28 slides

Accounting for Debtors (Accounts Receivable)

Accounting for Debtors (Accounts Receivable). Credit control Estimating bad debts Provision for doubtful debts Writing off Bad debts. What are receivables?. Receivables (Debtors) Amounts due to firm from other businesses or persons

370 views • 9 slides

Accounts Receivable

Accounts Receivable. 2 sets of topics to cover:. Basic every day transactions Less frequent & monthly transactions. For each topic proper procedures will be explained. Daily Transactions . Order Confirmation Agency payments Applying credits Credits versus payments Applying grants

722 views • 49 slides

Accounts Receivable, Notes Receivable and Revenue

Accounts Receivable, Notes Receivable and Revenue. Revenue Cycle--Documents. Customer purchase order Sales order Bill of lading Sales invoice Control listing ( remittances) Credit memo Sales Returns Bad Debt Write-off. Categories of Internal Controls Revenue Cycle (Sales & A/R).

471 views • 31 slides

Accounts Receivable

Accounts Receivable. Chapter 27. Objective. Use the Accounts Receivable Aging Dashboard. Key Concepts. No payments Underpaid Overpaid Denied No follow-up With follow-up Payments not yet applied Unidentified. Accounts R eceivable Aging. Figure 27-1

340 views • 10 slides

Accounting for Sales and Accounts Receivable

Chapter. 7. Accounting for Sales and Accounts Receivable. Section 1: Merchandise Sales. Section Objectives. Record credit sales in a sales journal. Post from the sales journal to the general ledger accounts. Posting from a Sales Journal. Objective 2. Post from the sales journal to

298 views • 19 slides

Accounts Receivable

Welcome!. Accounts Receivable. Presenter- Rob Goldman. Accounts Receivable. New Accounts Receivable Features More AR Changes on The Way General Accounting. Major Topics To Be Covered In This Presentation. Accounts Receivable. What is the Difference? Open Items Balance Forward

599 views • 14 slides

Accounting for Uncollectible Accounts Receivable

Accounting for Uncollectible Accounts Receivable. Chapter 20. Uncollectible Account. What is it? An account that has defaulted (not paid) on what is owed to you… What do you do? Either keep it on your books and hope that it is paid Close the account out

235 views • 12 slides

Accounts Receivable and Inventory

Accounts Receivable and Inventory. Chapter 19. May 4, 2009. Learning Objectives. How and why firms manage accounts receivable and inventory. Computation of optimum levels of accounts receivable and inventory. Alternative inventory management approaches.

479 views • 27 slides

Accounts Receivable

Accounts Receivable. Generally, two major issues:. How to Record Sales Discounts. Accounts Receivable. Generally, two major issues:. How to Record Sales Discounts How to Record Doubtful Receipts. Accounts Receivable. Discounts.

1.35k views • 112 slides

Accounting for Sales and Accounts Receivable

Chapter. 7. Accounting for Sales and Accounts Receivable. Section 2: Accounts Receivable. Section Objectives. 3. Post from the sales journal to the customers’ accounts in the accounts receivable subsidiary ledger. 4. Record sales returns and allowances in the general journal.

356 views • 19 slides

Outsourcing Accounts payable and Accounts Receivable

Accounts Payable & Accounts Receivable services, delivering cost effective processing for the clients in the US, UK and European regions. IBN’s AP and AR services help organizations diminish and keep up minimal effort and adequately deal with their operations.

124 views • 7 slides

More Related