Contributed October 8, 2001 by Ingrid Trias Hault 

Revenue Questionnaire:

1- What controls are there over the accuracy of order input to the system?

2- Can payment terms/prices be overridden on order entry?

3- Can the order taker exceed the credit limits? If so what controls are there to compensate this?

4- Can the order taker amend credit limits?

5- Can order takers establish new customer accounts?

6- Who determines and approves the credit limits? Is the approval evidenced? Is there a specific policy covering this?

7- Is the credit function segregated from the sales function?

8- What financial information/credit checks are done on customers?

9- Are cash collections included in the salesman's goals? Are salesman involved in the collection process?

10- Can customer credit limits be increased on a temporary basis? If so, who authorises it?

11- Is there a regular review of customers that have exceeded their credit limits?

12- Are credit limits reviewed on a yearly basis?

13- What authority do salesman have to agree deals?

14- Are salesman's targets based on revenues or are they based on margins and cash collection?

15- Is margin analysis done by customer? By product? Bu salesman?

16- Are annual agreements approved by Director/Manager? Are they reviewed by the legal counsel?

17- Does Management approve deals outside the standard price range?

18- Is this approval prior to the start of the deal?

19- Are free goods to the customer invoiced at zero to ensure that they are included in customer profitability analysis?

20- Can goods be invoiced prior to despatch?

21- Does the system permit shipped orders to be changed prior to invoicing?

22- What procedures are there to ensure that all products shipped are invoiced?

23- Is there a customer service centre to resolve queries/complaints from customers?

24- Are the product, price and customer masterfiles updates on a regular basis?

25- Who updates these masterfiles?

26- Are all changes to masterfiles verified on a regular basis, to ensure that they are valid?

27- Is the access to the masterfiles restricted in accordance with job responsibilities?

28- Is the A/R sub-ledger reconciled to the G/L on a regular basis?

29- Is there an aged accounts receiving listing? Is it reviewed on a regular basis?

30- Is there a policy for the calculation of the bad-debt provision?

31- Who can perform adjustments to the AR sub-ledger?

32- Is interest invoiced on late payments by customers?

33- Are discounts taken into account when issuing customer credit notes?

34- Are all credit notes authorized?

35- Are reasons for credit notes/returns recorded and analysed?

36- Is this analysis given to management on a regular basis?