J.C. Penney Gift Certificate Concerns Essays - E-commerce

J.C. Penney Gift Certificate Concerns J.C. Penney Gift Certificate Concerns J.C. Penney Company, Inc. has as of late presented another retail location (POS) framework formed by NCR Corporation into their stores. In the initial a half year of activity, it has become obvious that there are unforeseen issues with the bookkeeping and control capacities relating to blessing testaments. The new POS framework doesn't accommodate satisfactory following or control of the endorsements on the business floor, store level deals review has deficient systems or information catch abilities set up to follow deals precisely and dole out duty regarding missing declarations, and corporate bookkeeping has no power over the blessing testament bookkeeping on the store level and are continually attempting to accommodate blessing authentication data. Issues on the Sales Floor At the POS terminals on the business floor, blessing declarations are being put away underneath the sales register in a cabinet with no security or control. The security and control of blessing endorsements has been neglected during the drafting of the techniques for the new POS framework. Thus, the security and control on blessing testaments on the business floor that had been set up with the old framework has basically halted. Workers are simply using the rule of relying on trust. At the point when deals partners ring up a blessing authentication deal they need to key 1) the suitable twelve-digit SKU from a rundown of 3 decisions, and 2) a dollar esteem for the blessing declaration appeared on the face. For instance, SKU #1 spoke to the $25 blessing testament, SKU#2 spoke to the $50 blessing declaration, and SKU #3 spoke to the $100 blessing authentication. After the business exchange is finished, the business partner should physically record the dollar estimation of the blessing authentication on their money review report. During times of high volume, now and then this last advance is ignored. Regularly, the clerks are simply keying SKU #1 for any blessing declaration deal and entering in the suitable dollar esteem from the essence of the blessing endorsement. The SKUs are not electronically attached to a dollar esteem. This is a constraint of the past POS framework that was not tended to during the testing phase of the new framework. Along these lines, the mistake rate is high and disparities in blessing declaration deals are normal. At the end of the move, an electronic clerk report is created on the register that just shows an all out dollar sum attached to a SKU. This electronic clerk report is come back to the money room alongside the receipts and the manually written money review report. Issues in Store Level Sales Audit At the point when the money review report returns to the workplace with the sack of receipts and the electronic clerk report, computations are performed on the manual money review report to recognize the measure of blessing testaments sold. This is contrasted with the electronic clerk report. In the event that there are errors, deals review agents are required to utilize the electronic clerk report as the right report for evaluating purposes. The dollar measure of the blessing testaments sold is recorded on a month to month blessing authentication log and another running month to month balance is determined. Any new blessing authentications got from the corporate office are recorded on another log and the affirmation of receipt (from inside the book) is marked by an individual from the board and came back to corporate bookkeeping. Toward the month's end, records of blessing testament receipts (distributions from corporate), records of blessing declaration deals, and other bookkeeping records are sent to corporate representing confirmation after an endeavor on the store level for compromise. Issues in Corporate Accounting Senior supervisors are answerable for calling and approving a book of blessing authentications to be scattered for their store. At the point when this happens, the blessing authentications are recovered from the vault, the book number is logged, and the dollar estimation of the book is probably charged to the store. At the point when the affirmation of receipt from the store is gotten, it is looked at against the stores records, the charge for the blessing testaments is affirmed, and afterward the affirmation is documented. When a month, corporate bookkeeping get deals review data from the stores and endeavors to accommodate, however normally have no preferable karma over the store level review assistants. Investigation of Problem It is extremely clear that there