1 / 12

Accounting and Inventory Controls

This comprehensive overview outlines the procedures involved in accounting and inventory controls managed by the Operations Manager. It details the process from ordering 1,000 units online, handling shipments, to product inspections. After receiving products, the procedures involve logging inventory, sales transactions, and managing receipts for accounting accuracy. The Finance/Accounting Manager plays a crucial role in processing payments and recording weekly sales. Accountability and systematic checks are emphasized to ensure precise financial reporting and inventory management.

aislin
Télécharger la présentation

Accounting and Inventory Controls

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

  1. Accounting and Inventory Controls

  2. Accounting and Inventory Controls Operations Manager orders 1000 units online.Controls

  3. Accounting and Inventory Controls Operations manager calls Fin/Acct Manager to mail the check to supplier. • Fin/Acct Manager takes the check to the post office to mail it.

  4. Accounting and Inventory Controls Inventory shipment is received at Brian’s house. • FOB shipping • Fin/Acct Manager calls the company Managers and President to notify them for inspection.

  5. Accounting and Inventory Controls Product is moved to company office for inspection. Managers inspect the order. • This is a 100% inspection.

  6. Accounting and Inventory Controls After inspection is completed, product is logged into Inventory Manager’s inventory log.

  7. Accounting and Inventory Controls Salesman visits the office to pick up some inventory to sell. • Inventory Manager logs out inventory on inventory log.

  8. Accounting and Inventory Controls Salesman makes a sale to a customer and generates three receipts: white, yellow, and pink. (carbon copy) • One receipt goes to customer if wanted. • One receipt goes to Inventory Manager. • One receipt goes to Fin/Acct Manager.

  9. Accounting and Inventory Controls Salesman gives money to Fin/Acct Manager with copy of receipt. Salesman gives a receipt to the Inventory Manager.

  10. Accounting and Inventory Controls Fin/Acct Manager records weeks’ sales.

  11. Accounting and Inventory Controls Every Friday the Fin/Acct Manager gives Acct clerk a bank deposit slip and cash to make a deposit. • After making the deposit, the Acct clerk returns the deposit receipt to Fin/Acct Manager.

  12. Accounting and Inventory Controls The Fin/Acct and Inventory Departments double-check records.

More Related