Answered

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Chris, the billing person at Bonita Medical Clinic, is responsible for all patient billing and bookkeeping. He has fallen behind on his daily posting and is having trouble catching up. His totals are not balancing for
accounts receivable, and he is frustrated,

1. When should posting be done?

2. In what order should the entries be placed?

3. What could be the possible outcomes of sloppy bookkeeping practices?

4. What should Chris do in this situation?

Sagot :

The possible outcomes of sloppy bookkeeping practices can be as follows:-

  • The wrong bookkeeping will result in the failure of the audit process.
  • It can hinder the process of internal control.
  • It will lead to management problems like missing invoices and poor paperwork etc.

Bookkeeping is the art of recording the firm’s transactions in the books on a daily basis. It is basically the start of the accounting process. Bookkeeping is the task to record day-to-day activities like purchases, sales, payments, etc.

As said that bookkeeping is a daily process, hence the posting should be performed on daily basis - a daily routine.

Order - The transactions all should be recorded in chronological order. The company should post all the journal entries in the order it occurs.

Learn more about bookkeeping here: https://brainly.com/question/23132551

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