CASH RECEIPT AND SALES RECEIPT FLOWCHART

MUH.FERIAL FERNIAWAN/A031191156

HASANUDDIN UNIVERSITY

ACCOUNTING MAJOR

2021/2022
CASH RECEIPT FLOW CHART

Flowchart of Cash Receipts from Cash Sales is a flowchart that describes the cash
flow paid by consumers when making sales and the process of recording the cash

Here is the Flowchart of Cash Receipts from Cash Sales

CASH RECEIVING FROM CASH SALES:

1. Customers who feel that they match the products that have been selected
make a cash payment to the cashier.

2. The cashier receives cash payments (cash) from the customer. Then the
cashier makes a Cash Receipt Report (LPK) and sends it to the Finance
Department.

3. The Finance Department makes a copy of the Cash Sales Report (LPT).
Sheet 1 is sent to the Management and Sheet 2 is stored as an archive.
Jobdesc or Description of Activities (Operating List):

1. Customers

- Customers or buyers of company products.

- Make payments in cash / cash to the cashier

2. Cashier

Receive cash payments from customers in cash

Make a cash receipts report (LPK) which is sent to the finance department

3. Finance department

Receive cash receipts report (LPK) from cashier

Make 2 copies of Cash Sales Report (LPT)

1st sheet: LPT which is sent to the leadership as a report and evidence

sale

2nd sheet : LPT for the purpose of company archives

4. Leader

–Receive Cash Sales Report (LPT) from the finance department

 Cash Sales Flowchart

DESCRIPTION OF CASH SALES SYSTEM ACTIVITIES

1.      Sales Order Section
1.Receive orders from buyers
2. Fill out 3 pieces of cash sales invoice
3. Distribute cash sales invoices
 2.Cashier Section
1.Receive cash sales invoices from sales order department via buyer
2.Received money from the buyer for the amount stated in the cash sales invoice
3.Operate cash register to generate cash register tape
4.Put a paid stamp on the cash sales invoice and attach the cash register tape to the
invoice.
5.Submit cash sales invoices and cash register tapes to buyers for the purpose of
taking goods to the delivery department.
3.      Warehouse Department
a. Receive cash sales invoice sheet 2 from the sales order section
b. Prepare as many items as listed in the cash sales invoice.
c. Record the quantity of goods submitted to the delivery department
into the warehouse card
d. Submit the goods to the freight forwarder along with the cash sales
invoice sheet
4.      Freight Forwarding (Courier)
1.Received cash sales invoice sheet 2 along with goods from the warehouse
2.Received cash sales invoice sheet 1 attached with cash register tape from the
cash register via buyer
3.Compare cash sales invoice sheet 1 with cash sales invoice sheet 2 and check the
cash register tape to determine whether the price of goods has been paid by the
buyer
j4.Handing over the goods to the buyer
5.Distribute cash sales invoices.: sheet 1 is submitted to the journal, general ledger,
and reports section attached with cash register tape, sheet 2 is submitted to the
buyer at the same time as the delivery of the goods (wrapping slip)
5. Journal, Ledger, and report sections
1. Receive cash sales invoices attached with cash register tape from the delivery
department
2. Record cash sales invoices in the sales journal
3. Record cash sales invoices in the cash receipts journal, send cash sales invoices,
attached with cash registers to get inventory cards and cost cards
6. Inventory Card and Cost Card Section

1. Receive cash sales invoices attached with cash register tape from the journals,
ledgers, and reports.

2. Record the cost of goods sold in the inventory card on the basis of the data in the
cash sales invoice
3. Filing cash sales invoices attached with cash register tape according to the serial
number of cash sales invoices

CASH AUDIT PROCEDURE

1.Prepare a master schedule of cash and cash equivalents

2.Perform a sudden and simultaneous cash count for all types of cash in the
company and make an inspection report.

3.Ensure that the cash book is closed as of the audit date and that all receipts and
disbursements have been recorded.

4.Compare the cash balance according to the cash count with the cash book
balance.

5.If the cash calculation is done after the balance sheet date, trace back to the
balance sheet date and if it is done before the balance sheet date, trace forward to
the balance sheet date.

6.Compare the general ledger balance with the cash count balance after the
withdrawal procedure as of the balance sheet date.

7.Check the sum (footing/cross footing) of the cash book sheets, pay attention to the
transfer of the balance on the sheet to the next sheet.

8.If petty cash uses a fixed fund system (Imprest fund), check whether there is an
accountability from the fixed fund before replenishment is held.

9.Make sure if any cash denominated in foreign currency has been converted to the
correct exchange rate as of the balance sheet date.

10.Make a list of necessary corrections

11.Make conclusions and comments on the results of cash checks that partners
need to know as well as suggestions for improvement to management which is also
one of the assessments of audit quality.

Revenue Audit Program

Revenue audit program Suggested audit procedures in profit and loss (Agoes, 2012,
p. 99) include:

1. Study and evaluate internal control over revenue (use internal control
questionnaires, narrative memos).
2. Request a detailed income statement for the period examined by numbers
comparison for the previous period, and do an analytical review procedures.
3. Request a breakdown of the income statement for the period under review, which
is compared with a budget for the same period.
4. Ask for details of sales by type of goods or by sales which lists the quantity of
goods sold as well as the value of money for a year (made per month), then
compares the quantity sold, on a test basis with the shift in the time of recording
purchases.
5. Check the sales cut off to find out whether there is a shift in the time of recording
sales.
6. Check subsequent collections to find out the possibility of undrecorded revenue.
7. Make an analysis of several income estimates that may be asked by the tax party
or are needed in filling out an SPT to make fiscal corrections, or which allow the
emergence of contingent liability.

Sample Cash Receipt Audit Working Paper

Consider the following elements of the cash receipts audit workpaper example:

#1: January 12, 2020

Proof Number: CRV 060/1/20
Description: Interest on Deposit Ex. BNI Bank, 13/12/2019 to 12/1/2020
Amount: IDR 2,500,000 //
Account Credited: 557 (Interest Income)

#2: January 15, 2020

Proof Number: CRV 035/1/20
Description: Repayment of Ex. PT Pratama (invoice #371/XII/19)
Amount: IDR 25,000,000 r
Account Credited: 120 (Accounts Receivable)

#3: January 27, 2020

Proof Number: CRV 045/1/20
Description: Repayment of Ex. PT Lorensia (invoice #272/XII/19)
Amount: IDR 37,000,000 r
Account Credited: 120 (Accounts Receivable)

#4: January 30, 2020

Proof Number: CRV 057/1/20
Description: Repayment of ex. PT Laba Ria (invoice #275/XI/2019)
Amount: IDR 47,500,000 r
Account Credited: 120 (Accounts Receivable)

#5: March 11, 2020

Proof Number: CRV 075/1/20
Description: Repayment of Ex. PT Sukaku (invoice #373/XII/19)
Amount: IDR 33,300,000
Account Credited: 120 (Accounts Receivable)
We have scanned the cash receipts book from January 2020 to March 2020. And the
cash receipts related to the 2019 transaction, we have examined the evidence and it
turns out that it is related to receivables, or income. Everything was properly
recorded as of 31 December 2019 by the client.

r  = Check cash receipt voucher

// = Deposit interest for the period 13/12/2019 to 31/12/19 has been accrued.

And as of 1/1/2020 a reversing entry or reversing journal has been made by the
client. So that when the interest is received on 12/1/2020, all of it will be credited to
account number 357. And the complete format of the cash and cash equivalents
audit working paper – cash receipts is as follows: