Sales_cycle - Sales dept Ordering and granting of credit -...

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Sales dept Ordering and granting of credit Inventories Dispatch and invoicing Accounting Recording, accounting and credit control - Goods and services are only supplied to customers with good credit ratings - Customers are encouraged to pay promptly - Orders are re corded correctly - Orders are fulfilled -A l l sales invoiced are recorded in the GL & sales ledgers -A l l credit notes issued are recorded in the GL & SL - Correct posting from SL to sales ledger accounts - Cut-off is applied correctly to the sales ledger - Potentially doubtful debts are identified -A l l dispatches of goods are recorded - All goods and services sold are correctly invoiced -A l l i nvoices raised relate to goods and services that have been supplied by the business - Credit notes are only given for valid reasons - Segregation of duties
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This note was uploaded on 06/14/2010 for the course ACCOUNTING 123456 taught by Professor Vananh during the Spring '10 term at Vaasan ammattikorkeakoulu.

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