Receiving Controls

Control Documents

100

List the 4 Control documents listed in this presentation

Delivery Invoice, Credit Memo, Daily Receiving Clerk's Report and Purchase Order

200

State one importance of the Purchase Order

Helps to avoid duplicate order

Helps keep track of orders

Serves as a checklist for invoices that need to be paid

300

List 4 components on an Invoice

Logo, name of business, invoice #, addresses of both businesses, quantity, description, individual price, total price, date, signature slot, item number

400

On the Credit Memorandum shown earlier what was the reason for it being drawn up

Underpayment

Breaches

100

What is Padding?

Overbuying stock meant to used by the business and taking the excess for personal use

200

Which breach is a form of bribery?

Kickback

300

Which breach deals with falsifying business records and manipulating prices to pocket the excess

Collusion

400

Other than being a breach of proper receiving control what else is employee embezzlement a breach of in the business?

Its a breach of trust

Strategies

100

List 2 strategies to combat breaches in Receiving controls?

Manager random checks, Evaluation form, Code of Ethics and Computerized systems

200

Which strategy serves as a guiding framework for decision making process in the restaurant

Code of ethics

300

Which strategy uses technology to help with issues in Receiving controls?

Computerized systems

400

Evaluation helps i_____y inefficiencies and areas where i_________y have been wasted

 Indentify, Inventory

General

100

What is Credit memo short for?

Credit Memorandum

200

What is Receiving control?

Receiving control is the term used to describe the systems, processes, and procedures that guarantee that materials and items received by business are precisely recorded, examined, and accounted for. 

300

What is the Daily Receiving Clerk's Report?

The Daily Receiving Clerk’s Report is a document that records data from each invoice of that given day in appropriate columns on the report.

400

State the steps in the Receiving process

1. Verify specifications

2. Acknowledge receipt of goods

3. Do record keeping

4. Facilitate storage of the items

5. Send documents to supporting departments