 Despatch only sales orders

 Only to authorised customers

 Special authorisation- free of charge goods
1. Examine goods outwards- quantity, quality, condition
2. Record outwards on a despatch note
3. Matching: despatch notes – customer orders – invoices
4. Pre-numbering despatch notes
5. Check sequence of despatch notes
6. Check condition of returns
7. Record returns on goods returned notes
8. Despatch note signed by customer
9. Preparation of invoices and credit notes
 Use authorised price list
 Authorisation of credit notes
 Check invoice and credit note- price, quantities, extensions
 Sequential numbering of invoice and credit notes
10. Updated inventory record
11. Matching- invoice- despatch notes- sales orders
12. Regular review- despatch notes not matched by invoices
1. What are the tests of control used to mitigate risks of despatch & invoicing?
Ans.
1. Verify details of trade sales or goods dispatch notes with sales invoices checking
- Quantities
- Prices charged with official price lists
- Trade discounts have been properly dealt with
- Calxulations and additions

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