This tool includes questions related to the sales, accounts receivable and cash receipts process. The sales, accounts receivable and cash receipts process includes activities such as initiation of a sale, the shipping of items, the invoices of items shipped, the collection of cash, the collection of cash through credit card payments, and extensions of credit. This document also intends to include the “who, what, when, where and how” of each activity.
Sample questions include: How are sales initiated? Are there sales people? Are all sales generated within the store? How does the register track inventory sold? Is inventory relieved from the ledger at the time of sale? When and who relieves inventory?