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 unexpected issues with the bookkeeping and control capacities relating to blessing authentications. The new POS framework doesn't accommodate satisfactory following or control of the testaments on the business floor, store level deals review has deficient systems or information catch capacities set up to follow deals precisely and dole out obligation regarding missing authentications, and corporate bookkeeping has no power over the blessing endorsement bookkeeping on the store level and are continually attempting to accommodate blessing declaration data. Issues on the Sales Floor At the POS terminals on the business floor, blessing testaments are being put away underneath the sales register in a cabinet with no security or control. The security and control of blessing declarations has been neglected during the drafting of the methods for the new POS framework. Thus, the security and control on blessing declarations on the business floor that had been set up with the old framework has essentially halted. Representatives are absolutely 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 fitting twelve-digit SKU from a rundown of 3 decisions, and 2) a dollar esteem for the blessing testament appeared on the face. For instance, SKU #1 spoke to the $25 blessing authentication, SKU#2 spoke to the $50 blessing declaration, and SKU #3 spoke to the $100 blessing endorsement. After the business exchange is finished, the business partner should physically record the dollar estimation of the blessing endorsement on their money review report. During times of high volume, once in a while this last advance is disregarded. Ordinarily, the clerks are simply keying SKU #1 for any blessing testament deal and entering in the fitting dollar esteem from the substance of the blessing declaration. The SKUs are not electronically attached to a dollar esteem. This is an impediment of the past POS framework that was not tended to during the testing phase of the new framework. In this way, the blunder rate is high and inconsistencies in blessing testament deals are normal. At the end of the move, an electronic clerk report is produced 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 written by hand money review report. Issues in Store Level Sales Audit At the point when the money review report returns to the workplace with the pack of receipts and the electronic clerk report, computations are performed on the manual money review report to distinguish the measure of blessing endorsements sold. This is contrasted with the electronic clerk report. In the event that there are disparities, deals review agents are required to utilize the electronic clerk report as the right report for examining purposes. The dollar measure of the blessing declarations sold is recorded on a month to month blessing endorsement 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 executives and came back to corporate bookkeeping. Toward the month's end, records of blessing testament receipts (payment from corporate), records of blessing declaration deals, and other bookk eeping records are sent to corporate representing check after an endeavor on the store level for compromise. Issues in Corporate Accounting Senior supervisors are liable for calling and approving a book of blessing declarations 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, yet regularly have no preferred karma over the store level review assistants. Investigation of Problem It is extremely apparent that there