Accounting Audit Trails

During Live Operations, the Transaction Processing, File Maintenance, and Reports and Inquiry menus provide functions used during day-to-day operation of the system.

To process transactions, a three-step procedure is followed: (1) transaction entry; (2) journal printing; and (3) transaction posting, where records are integrated with permanent master files.

Transaction Entry

Entry of data occurs in groups, or batches, called “Control Groups,” that you should review before posting them to your master files. These groups are identified by user ID and “control number,” which allows each operator to process transactions separately from other operators. The system performs validation checks on all transactions entered. Inventory Control may also receive sales information from Order Entry and purchasing information from Accounts Payable and Purchase Orders.

Journal Printing

After initial transaction entry, each control group must be printed on a journal before it can be posted. The journals should be reviewed or edited by the operator, or someone else in the department who can verify the entered data. Save the journals; they are an important part of your audit trail.