Compare and contrast a manual accounting system for processing customer transactions. Include an explanation of how the accounts receivable subsidiary ledger compares with the Customer Center.

Q: control weakness

A: Option a is wrong because the approval of consumer credit is done by the credit department, the…

Q: GENERAL LEDGER/REPORTING SYSTEM. Please explain how each cycles in the business process/transaction…

A: General Ledger Reporting system The preparation of the general Ledger is one of the important…

Q: In a manual system, after which event in the sales process should the customer be billed?

A: Sales Process: Sales Process can be defined as trade of goods and services provided by the trader of…

Q: Which function should the billing department NOT perform? a. record the sales in the sales journal…

A: Accounting Information System: The system which helps to gather, store and process the accounting…

Q: Which files do you usually find in a sales order module versus an account receivable (customer…

A: The sales order module contains an open sales order which is an internal document issued by seller…

Q: Most of the accounting cycles have journal entries that accompany the activities of each cycle.…

A: A process of identifying a transaction, analyzing it and then recording the same in the books is…

Q: 1. SEGREGATION OF FUNCTIONSWhich, if any, of the following situations representsimproper segregation…

A: Segregation Function: Segregation of function refers to an important physical control. This…

Q: Finer Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal,…

A: Special Journals are used by the accountants to record the journal entries into the specific…

Q: A subsidiary ledger is used for accounts receivable and accounts payable. Thus, transactions that…

A: Subsidiary ledger Subsidiary ledger refers to the ledger that provides the detailed information of…

Q: Identify which department has stewardship over the following journals,ledgers,and files. a.customer…

A: The answer is as fallows

Q: Why do companies use sequential prenumbering for documents such as checks, sales invoices, and…

A: Pre numbered documents are a main feature of an internal control system. The pre numbering of…

Q: For each of the following processes, state whether OLTP or OLAP is appropriate and why.a. An order…

A: Meaning OLTP & OLAP OLAP means Online Analytical Processsing and OLTP means Online Transaction…

Q: OLTP VERSUS OLAP SERVERS For each of the following processes, state whether OLTP or OLAP is…

A: Meaning OLTP & OLAP OLAP means Online Analytical Processsing and OLTP means Online Transaction…

Q: Match the term in the left column with its definition in the right column. 1. CRM system a. Document…

A: Bill of lading is a  shipping document which mentions the quantity of goods shipped, and the sender…

Q: All of the following functions are normally found within an organization's sales/collection except:…

A: An entity involved in sale of merchandise has to keep a track of multiple functions such as receipt…

Q: From the following list, identify those that are likely to serve as source documents.  Trial…

A: A source document refers to the original document that includes all the information of the business…

Q: Function Missing words Customer billing for provided Receipt and processing of and services Managing…

A: Here the context is match the following to choose the correct one in the missing words which are…

Q: The outputs of a computerized accounting information system are called Reports. Software.…

A: Accounting information systems: Accounting information system is a system that collects, stores,…

Q: (A) Explain the fundamental purpose of the sales and collection process. (B) Differentiate between a…

A: The process of sales and collection is officially known as Sales and Collection Cycle and RRR…

Q: In a manual accounting system, what advantage does the journal voucher system have over the…

A: Journal  Voucher Journal voucher is a special source of document which has been replaced for general…

Q: Function Missing words Customer billing for provided Receipt and processing of and services Managing…

A: Debtors represent the term that is used when a payment is due to be received from the customers and…

Q: In a good internal control​ system, which of the following sets of documents is required for proper…

A: Solution: In a good internal control system, for approval of payment we should do 3 way matching…

Q: Describe briefly the processing of transactions, including internal control features, in the…

A: Internal control:   It is a business activity that aids in the protection of a company's assets. It…

Q: d. The sales department approves sales credit memos as the result of product returns and forwards…

A: The sales department of the company is responsible for recording the sales made by the company…

Q: Match the transactions below with the journal or ledger in which it would be entered.   Clear All…

A: Cash receipt journal: All cash receipts should be recorded in this journal Cash payment journal: All…

Q: The Accounts Receivable subsidiary ledger is updated (increased and decreased) by using which of the…

A: Accounts Receivables - Accounts Receivables are the amount unpaid by the customer for the service…

Q: For each of the following processes, state whether OLTP or OLAP is appropriate, and why. a. An…

A:

Q: Explain, on what criteria or by what internal controls in place, where Billing could be responsible…

A: It is the process followed by the organization in order to ensure the reliability of the financial…

Q: Enumerate some accounting information system input devices and indicate its purpose, including how…

A: Accounting Information system basically involves use of modern computer technology in accounting to…

Q: The purchases and disbursements cycle usually begins when Group of answer choices A user department…

A: A disbursement seems to be the transfer of funds from one account to another, whether for a purchase…

Q: The outputs of a computerized accounting information system are called a. reports. b. software. c.…

A: Computerized accounting includes using the computers and accounting software for recording, storing…

Q: V

A: trainee in an audit firm and you have been assigned to   Sales

Q: What general ledger journal entries does the purchases system trigger? From which departments do…

A: Purchasing System: The identification and procurement of the inventory needs for the organization is…

Q: Answer the following questions to ponder: 1. When does an accounting information system becomes…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Identify which department has stewardship over the following journals, ledgers, and files. a.…

A:

Q: All records in a file must be uniquely identifiable in at least one attribute, which is its primary…

A: The primary key is unique and cannot be the same in a table. It is a basis through which every…

Q: Which onscreen form is usually used to record a sales transaction that the customer will pay later?…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Which is preferable: implementing a manual accounting information system or implementing a…

A: Manual accounting information system - These are the accounting system in which all the task of…

Q: d contrast a manual accounting system with a computerized accounting system for process vendors…

A: manual accounting system requires the acting accountant or bookkeeper to post business transactions…

Q: What are the limitations of a manual accounting information system in business? How simple is the…

A: Limitations of manual accounting information system Manual accounting system is the system where…

Q: Which files do you usually find in a sales order module versus an accounts receivable (customer)…

A: Sale is the outflow of the commodities or the inventory held with the business entity to generate…

Q: An invoice is generated in the cash receipts process. sales order creation process. shipping…

A: Invoice is a copy issued by the Seller to the Buyer. It consists of all the details such as, Date…

Q: Describe the flow of data in the purchasing process that is initiated when the purchasing…

A: A data flow diagram is a flow of data that analyzes the beginning criteria and end results of a…

Q: ware to analyze the customer and vendor’s Payments and Receipts? Justify the figures using

A: Software used:  QuickBooks Premier Plus Contractor Edition 2019-Desktop   Needed:  A report showing…

Q: Which of the following is the best reason for prenumbering in numerical sequence documents such as…

A: Prenumbering of documents like shipping documents, sales invoices, and sales order means providing a…

Q: What is better: adopting a manual accounting information system or a computerized accounting…

A: Manual accounting information system - These are the accounting system in which all the task of…