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 evident that there are unexpected issues with the bookkeeping and control capacities relating to blessing endorsements. The new POS framework doesn't accommodate sufficient following or control of the testaments on the business floor, store level deals review has deficient strategies or information catch capacities set up to follow deals precisely and relegate obligation regarding missing authentications, and corporate bookkeeping has no influence 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 declarations 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 ignored during the drafting of the techniques for the new POS framework. Accordingly, the security and control on blessing endorsements on the business floor that had been set up with the old framework has essentially halted. Representatives are simply using the rule of relying on trust. At the point when deals partners ring up a blessing declaration 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 endorsement appeared on the face. For instance, SKU #1 spoke to the $25 blessing declaration, SKU#2 spoke to the $50 blessing endorsement, and SKU #3 spoke to the $100 blessing testament. 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, at times this last advance is disregarded. Commonly, the clerks are simply keying SKU #1 for any blessing authentication deal and entering in the suitable dollar esteem from the essence of the blessing testament. 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. Accordingly, the blunder rate is high and inconsistencies in blessing endorsement deals are normal. At the end of the move, an electronic clerk report is produced on the register that just shows a complete 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 pack of receipts and the electronic clerk report, estimations are performed on the manual money review report to distinguish the measure of blessing authentications sold. This is contrasted with the electronic clerk report. In the event that there are disparities, deals review assistants are required to utilize the electronic clerk report as the right report for evaluating purposes. The dollar measure of the blessing declarations sold is recorded on a month to month blessing testament 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 authentication deals, and oth er bookkeeping records are sent to corporate representing check 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 testaments to be scattered for their store. At the point when this happens, the blessing testaments are recovered from the vault, the book number is logged, and the dollar estimation of the book is likely charged to the store. At the point when the affirmation of receipt from the store is gotten, it is thought about 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 normally have no preferable karma over the store level review representatives. Examination of Problem It is exceptionally clear that there