Module 6 Purchase-to-Pay Controls Assignment The narrative and flowchart that follow these instructions provide information about Moxy, Inc., a company selling industrial cleaning supplies. Please complete the following three (3) tasks: (a) Using an Excel spreadsheet or a Word table, prepare a control matrix for Moxys business process as described in the narrative on the next page and shown in the flowchart on the page that follows that. Note that it should be either a purchasing/receiving process (Ch. 12) or an AP/CD process (Ch. 13). You must decide which process fits the fact pattern. For purposes of preparing the effectiveness columns of your flowchart, you should assume that you have the following 2 goals: 1. Optimize cash discounts 2. Ensure that the amount of cash maintained in demand deposit accounts is sufficient (but not excessive) to satisfy expected cash disbursements. Tips: Find the corresponding example of a control matrix in the textbook, based on your choice of process (purchasing/receiving (Ch 12) or AP/CD (Ch 13)). Set up a skeleton in Excel or a Word table (e.g., column headings and room for the control plans you identify in rows) that is like the match you find in the text. The only real differences should be in the (1) Present and Missing control plans that you list in each rowthese must be customtailored to the narrative/flowchart for Moxy on the next pagesand the (2) cell entries that you make (choose the correct match of control plans to control goalsnote that some control plans meet more than one control goal). To locate potential control plans to be included in your control matrix, use Chapter 9 AND either Chapter 12 or Chapter 13whichever is applicable to the Moxy narrative. Present control plans in your matrix (i.e, ps) should be already mentioned in your narrative (note that wording may be slightly different than text examples) For missing controls (i.e., ms), remember that this process is more subjective, but in general, you want to identify goal columns with few entries, and find control plans that would enhance the accomplishment of those goals. Missing plans should fit with the nature of Moxys system. (b) Provide explanations for each control plan that clearly describe how each of the control goals that you have selected in your matrix meets the corresponding control plan. Examples of how these explanations are prepared and formatted appear in Chapter 9 (e.g., pp. 327-328; 335), Chapter 12 (e.g., pp. 486-487) and Chapter 13 (pp. 526-527). Remember that the excerpts from the textbook are examples to help you create your OWN set of explanations, and your explanations should fit the chosen control plans and goals reflected in your matrix as it applies to Moxy. (c) Annotate the flowchart (see textbook for examples) that I have attached once your control matrix in part (a) and your explanations in (b) are complete. You can literally write on the flowchart that I have created, then scan it into a pdf file or take a GOOD picture of it with your phone and save it as a jpeg, png or pdf file. There is DEFINITELY no need to re-create the flowchart itselfnot a good use of your limited time. Narrative for Moxy, Inc.: Moxy, Inc. is a distributor of industrial cleaning supplies, selling to a variety of businesses in the southeast United States. Its entire purchase-to-pay process is run using an ERP software package designed for small-to-mid-sized businesses. The relational database software that stores the data for the ERP system is run on a server in a central computer area, where all of the data is stored. Moxy also uses this same software for other areas of the business, including sales and financials (i.e., general ledger). Moxy has not implemented EDI, but instead relies on manual invoices from its various vendors to initiate its AP/CD process. When the accounts payable department receives invoices from vendors, an AP clerk, using his/her own desktop computer, uses the ERP system user interface to locate the corresponding PO number that is associated with the invoice that was received. When the clerk locates the PO number, the screen displays the existing PO. At this point, the clerk enters any data from the invoice that is necessary to adjust the PO. The computer then matches the newly entered invoice data to the existing PO data and the data that was recorded at the time the goods were received. If there are price or quantity differences, the ERPs workflow capability automatically routes the invoice to the purchasing department for approval. Upon approval, the computer records the invoice and updates the PO and general ledger master data. On Tuesdays and Fridays of each week, a clerk in the accounts payable department reviews unpaid invoices using the ERP software to view these items on his/her screen. The clerk places a checkmark in the box for each invoice that will be paid. Once this step is performed, the checks are printed in the accounts payable department. Simultaneously, the system updates the accounts payable and general ledger master data. Accounts payable runs the batch of checks through a check-signing machine and mails them to the vendor.