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Aug 6th, 2022
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How to Link symbol in the Accounts Receivable Purchase Agreement

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you able to see my screen yes i do okay then now lets get started with the sales process so weve covered everything in procurement and now since now were talking about sales so the first thing is we need to talk about customer creation the process is exactly as the vendor creation and now well be doing it for the sales side so hopefully we dont have to go into that much details in the accounts payable we have purchase orders and vendors similarly in the accounts receivable we have customers and we have the sales orders also in the sales and marketing module we have on the customers we have the quotations the sales orders the sales agreements and rest of the things that we need to do so well first go on to the customer and well try to create a customer now this page is exactly similar to the creation of vendor so the same thing so we can go and create a new customer so the customer account is already populated a reason because we have the number sequence set up for that so if yo

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The methods should be tailored to the specific needs of the chapter. There are five interrelated components of an internal control framework: control environment, risk assessment, control activities, information and communication, and monitoring.
The seven internal control procedures are separation of duties, access controls, physical audits, standardized documentation, trial balances, periodic reconciliations, and approval authority.
Accounts payable are similar to accounts receivable, but instead of money to be received, they are money owed. The strength of a companys AR can be analyzed with the accounts receivable turnover ratio or days sales outstanding.
An account receivable is recorded as a debit in the assets section of a balance sheet.
Segregation of Duties for Accounts Receivable Custody of accounts receivable. Authorization to use the accounts receivable receipts. Recording accounts receivable.
The key controls to consider are: Require credit approval prior to shipment. You will have problems collecting accounts receivable if an order is shipped to a customer with a bad credit rating. Therefore, require the signed approval of the credit department on all sales orders over a certain dollar amount.
Purchase of Accounts Receivable refers to the bank buying the creditors rights in accounts receivable possessed by the seller (creditor) against the buyer (debtor) under the commercial contract while maintaining the recourse to the debtor. The bank may have the right of recourse to the creditor or not.
Pre-approval of actions and transactions (such as a Travel Authorization) Access controls (such as passwords and Gatorlink authentication) Physical control over assets (i.e. locks on doors or a safe for cash/checks) Employee screening and training (such as the PRO3 Series to increase employee knowledge)

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