AIS Transaction Processing

Q 5 : Name the major subsystems Of the revenue cycle

1- Sales Order Processing

Revenue cycle subsystem (physical component) The majority of business sales are made on credit Involve tasks such as preparing sales orders, granting credit, shipping products (or rendering a service) to the customer, billing customers and recording the transaction in the accounts (AR, inventory, expenses, and sales).

2- Cash Receipts

• Revenue cycle subsystem (financial component). For credit sales, some period of time (days or weeks) passes between the point of sale and the receipt of cash.
• Cash receipts processing includes collecting cash recording these depositing cash in the bank, and events in the accounts (AR and cash).

Q 7 : Name the two type of journals