Summary of the revenue cycle to complete the requirements

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Reference no: EM132019287

Use the following summary of the Revenue cycle to complete the requirements below.

New software projects at Innovius are handled by a sales consultant in the sales department who enters the software project order information into the project tracking system. This information about each software project in the project tracking system database is accessed and viewed by the software developers who work on and complete the projects. The software project is not delivered to the customer until the entire project is complete. Upon completion of the software project, it is delivered and installed by a technical consultant.

When a new software project order is made, the customer sends a down-payment of 10% of the expected project cost. Upon completion, delivery, and installation of the software project, the customer receives an invoice for which the first payment is due within 30 days. The customer may then make 3 equal installment payments of 30% each due 30 days, 45 days, and 60 days, respectively. Innovius does not utilize monthly statements, and each software project is billed with a separate invoice. All customer cash receipts are processed by a cash receipts clerk and are deposited on a daily basis in the checking account.

Using the information provided for Innovius prepare an REA Data Model for the Revenue Cycle, including cardinalities using the guidelines and appropriate symbols.

Reference no: EM132019287

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