The sales order procedure described a credit transaction that resulted in the establishment of an account receivable. Payment on the account is due at some future date, which the terms of trade determine. Cash receipts procedures apply to this future event. They involve receiving and securing the cash; depositing the cash in the bank; matching the payment with the customer and adjusting the correct account; and properly
accounting for and reconciling the financial details of the transaction. The DFD in Figure 9.20 shows the relationship between these tasks. They are described in detail in the following section.