Inventory – Sublet Repairs

Internal Controls

Accounting Controls

A month-end schedule should be prepared showing the cost of each unsold Sublet Repair.  Any difference between the schedule and the account balance should be identified and corrected.  It is helpful to maintain a list of sublet repair purchases to aid in costing Sublet Repair sales and preparing the month-end schedule.  Each purchase should be identified with the related repair order number.  Whenever a Sublet Repair is required, an estimate should be received from the vendor and a Purchase Order issued.  When the invoice from the vender is submitted, it should be compared to the Purchase Order and any discrepancies should be resolved.  Bills for Sublet Repairs should not be paid without a properly prepared Purchase Order.