Explain the purpose of having mail room procedures.

Q: What is the purpose of the cash receipts journal?

A: MEANING : PURPOSE: It is used to track the sales of items while cash is being received, by…

Q: Which of the following are unique identifiers associated with checking accounts? account number O…

A: Account number: An account number is a unique identifier for your personal bank account. It tells…

Q: How are journal vouchers used as a control mechanism?

A: Journal Voucher: Journal voucher are used in providing the inputs for the general ledger. The…

Q: What is a double-entry bookkeeping system?

A: The accounting is a process to classify the transactions, record the transactions and prepare the…

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: The functions of and documents generated by which of the below departments determine when a…

A: Lets understand the basics. In organization, there are various department which are inter connected…

Q: Distinguish between an accounts payable file and a vouchers payable file.

A: Accounts Payable system:   The accounts payable system looks over the due payments to be processed…

Q: How should documents removed from workpapers be treated?

A: Workpaper is the most important part of the audit. It contains all the documentation regarding the…

Q: Requirements: Draw a decision tree for the "mailing list" problem, including all probabilities and…

A:

Q: Which duties should be segregated? a. matching purchase requisitions, receiving reports, and…

A: Cash Disbursement System:   The cash disbursement system carries out the responsibility of…

Q: journal

A: Purchase journal is a systematic book where Purchase related transactions are recorded. It is also…

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: How do you find invoice

A: The  question is based on the concept of Invoice and method to retrieve it. Invoice is a commercial…

Q: What information is contained in the general ledger master file?

A: General Ledger:  The financial information required for the preparation of financial reports of…

Q: Compare and contrast a manual accounting system for processing customer transactions. Include an…

A: A manual accounting system is a bookkeeping system for recording business activity transactions,…

Q: what information do you need to capture from a customer in order to accurately and completely fill…

A: Information captured from a customer to complete an order the accurate and complete filled order…

Q: What information is contained in a journal voucher?

A: Definition: Journal Voucher is a document based on which transactions are recorded. It serves as…

Q: Which task must still require human intervention in an automated purchases/cash disbursements…

A: Cash disbursement: Cash disbursement refers to the outflow of cash paid in exchange for provision of…

Q: What is the purpose of a bookkeeping system?

A: This question explains about the purpose of a bookkeeping system

Q: Describe the elements of an e-mail address.

A: Internet:   Internet is the means of communication which connects one smart device with any other…

Q: Differentiate between a remittance advice and a customer invoice within the sales process of an…

A: Accounting exchanges are those exchanges that legitimately influence the financial statements of a…

Q: In the Invoice Lookup, when view

A: Answer: SAGE 50 is the accounting software that is used by many business to record their day to day…

Q: Can you show me what the general ledgers would look like. I have them done just want to double check…

A: Required ledger accounts are shown below

Q: How does the Genral Ledger work?

A: General ledger is the account prepared by the company for each transactions made by the company. It…

Q: What is an order book?

A: Introduction: Order books are utilized by almost every exchange for numerous assets like stocks,…

Q: When are adjusting entries made to the worksheet, and what is their purpose? When are the…

A:

Q: Differentiate between source documents and vouchers.

A: A source document is generated routinely when the transaction takes place as a cash memo; invoice,…

Q: All of the following can provide source data except ________.A. a scanning device at the grocery…

A: Source data is the data or information which becomes the input for further processing. This source…

Q: What is a voucher system

A: Accounting transactions are a set of activities that take place as a result of the day to day…

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: What does the QuickBooks Online Check Register do?

A: Quick Books: Intuit created and markets QuickBooks, an accounting software program. QuickBooks…

Q: How do you journalize entries on FOB shipping and FOB destination?

A: FOB shipping point: Under FOB shipping point the possession of goods are with the seller until the…

Q: What tasks should the general ledger clerk not be allowed to do?

A: Definition: General Ledger: General ledger refers to the ledger that records all the transactions of…

Q: what is posting system in detail ?

A: Accounting is a tool of recording, summarising and analysing the financial transactions and events…

Q: How can reengineering of the sales order processing subsystem be accomplished using the Internet?

A: Sales Order Procedures: Sales order procedures include a thorough systematic procedure for sale of…

Q: What's the entry for the cash receipt journal?

A: Journal entry is the entry which the business records normally on the journal but as there are…

Q: Match each document in a voucher system with its description. Document 1. Purchase requisition 2.…

A: Since there are multi sub-parts, we will solve first three for you. To get the remaining sub-parts…

Q: Explain how to record the purchase of supplies.

A: Supplies are the consumable assets, which are ordinarily consumed in an organization. Supplies…

Q: Post to general ledger

A: General ledger is the ledger book in which all the respective accounts of parties as well as the…

Q: State the purpose of footing the total column in the client’saccounts receivable trial balance,…

A: A necessary audit procedure is to test the information on the client's trial balance for detail…

Q: Give one advantage of using a vouchers payable system.

A: Voucher: It is a written document or statement that confirms the happening of certain transactions…