Innovius is a small software solutions company which specializes in web design and small business applications development. Based upon a discussion with the controller, you have prepared the following summary of the Revenue Cycle for Innovius. Use this narrative to prepare a flowchart to depict Innovius revenue cycle with swim lanes.

Sales consultants at Innovius enter the software project information to update the project tracking system for each new project. This information in the project tracking system database is accessed and viewed by the software developers to complete the project. The developers update the system for hours worked on the project and notes about the progress of the project. Upon completion, the developers update the system to indicate the project is complete. Upon completion of the project, the billing department uses the information in the project tracking system to generate an invoice for each project and update the accounts receivable database. The invoice is sent to the customer.

Cash receipts include a check and remittance slip received from the customer by the administrative assistant who opens the mail. The remittance slips are sent to the accounts receivable department and the checks are sent to the treasurer. The treasurer endorses the checks by stamping them for deposit only and prepares a deposit slip. The treasurer also prepares a cash receipts summary report which is forwarded to the controller department. The treasurer then deposits the checks and the deposit slip at a local bank at the end of each day.

The accounts receivable department enters the remittance slip information to update the customers balances in the accounts receivable database. The remittance slips are stored in a filing cabinet alphabetically by customer. On a weekly basis the accounts receivable department generates an accounts receivable aging analysis which is sent to the credit and collections department.