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Consolidated Electricity Company has revised and redesigned its computer system so that it has on-line capacities. The new cash receipts procedures, described below, are designed to take advantage of the new system.
The customer's payment and remittance advice are received in the treasurer's office as before. A cathode ray tube terminal is located in the treasurer's office to enter the cash receipts. An operator keys in the customer's number and payment from the remittance advice and checks. The cash receipt is entered into the system once the operator has confirmed that the proper account and amount are displayed on the screen. The payment is then processed on-line against the accounts receivable file maintained on magnetic disk. The cash receipts are filed for deposit later in the day. The remittance advices are filed in the order they are processed; these cards will be kept until the next working day and then destroyed. The computer prints out a deposit slip in duplicate at 2:00 P.M. for all cash receipts since the last deposit. The deposit slips are forwarded to the treasurer's office. The cash receipts are removed from the file and deposited with the original deposit slip; the duplicate deposit slip is filed for further reference. At the close of business hours (5:00 P.M.) each day, the EDP department prepares a record of the current day's cash receipts activity on magnetic tape. This tape is then stored in a secure place in the event of a system malfunction; after 10 working days, the tape is released for further use.
Required
a.) Prepare a systems flowchart for the company's new on-line cash receipts procedures.
b.) Have the new cash receipts procedures as designed and implemented by Consolidated Electricity Company created any internal control structure problems for the company? Explain your answer.
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