Analysis of Credit Sales Accounting Information System, Accounts Receivable Collection, and Internal Controls

Abstract

Purpose: This study aims to determine the credit sales accounting system and accounts receivable collection and analyze the application of the internal control system at PT Ocean Asia Industry based on the elements of internal control.
Methodology/approach: This research uses a descriptive method with the main data source in the form of secondary data. Data collection techniques are carried out through field research, documentation, and
literature study.
Findings: PT Ocean Asia Industry has implemented a fairly good credit sales and accounts receivable collection system and adequate internal control elements. However, there are weaknesses in the organizational structure, namely the existence of sections that duplicate two functions (the credit function is carried out by the marketing department). In addition, there are obstacles in the implementation of the accounting system such as late payments, system errors, and human error.
Practical implications: The company needs to strengthen the accounting system and internal control, especially by separating the credit and marketing functions so that the credit authorization process can be carried out more thoroughly. Regular system development and maintenance, employee training, and strict implementation of SOPs are also recommended to improve the effectiveness and efficiency of accounts receivable management.
Originality/value: This research provides added value by highlighting the importance of separation of functions in the organizational structure and identifying the real obstacles faced in the accounting system for credit sales and accounts receivable collection in the company, in an effort to improve internal control and operational efficiency.