Generate an Excel/PDF workbook for O2C internal audit: customer master, credit, sales orders, pricing, dispatch, billing, GST, collections, credit notes, receivables, cut-off and access.
| Area | Risk | Control | Test | Evidence | Cadence |
|---|---|---|---|---|---|
| Customer onboarding master | Customers are created or changed without KYC, GSTIN, credit terms, related-party screening or approval. | Customer master approval, GSTIN/PAN validation, related-party flag and dormant customer review. | Sample new/changed customers, check GSTIN/PAN, review dormant accounts and inspect related-party flags. | Customer master, onboarding form, GSTIN/PAN proof, credit application, approval trail and change log. | Monthly / Change event |
| Credit limits order release | Orders are released despite weak credit evaluation, expired limits, unauthorised overrides or overdue receivables. | Credit limit approval, overdue block, override workflow and periodic limit review. | Review limits, test over-limit releases, inspect overdue block overrides and check limit revisions. | Credit assessment, limit approval, ageing, override log, sales order and release approval. | Weekly / Monthly |
| Sales order pricing schemes | Orders use unauthorised prices, discounts, schemes, freebies or terms. | Price master control, discount approval, scheme circular and order amendment log. | Compare prices to list, review discount exceptions, test scheme eligibility and inspect amendments. | Price list, scheme circular, sales order, discount approval, amendment log and customer agreement. | Monthly |
| Dispatch service acceptance | Invoices are raised without dispatch, delivery, milestone completion, service proof or customer acceptance. | Dispatch release, POD/service proof match, milestone approval and delivery exception review. | Match invoices to POD/service proof, review delivery exceptions, test milestone billing and check reversals. | Delivery challan, e-way bill, POD, service report, milestone certificate, dispatch register and exception log. | Weekly / Monthly |
| Invoicing GST reporting | Invoices are incomplete, duplicated, wrong-taxed, missing IRN/e-way bill or inconsistent with GST returns. | Invoice sequence, tax-code review, IRN/e-way validation and GSTR reconciliation. | Review gaps/duplicates, test tax codes/place of supply, match IRN/e-way bill and reconcile GST returns. | Invoice register, tax-code master, IRN data, e-way bill, GSTR-1, GSTR-3B and sales GL. | Monthly |
| Receipts collections bank | Receipts, UPI/card settlements, collections or write-offs are not matched to invoices and bank statements. | Receipt matching, collection owner review, bank settlement reconciliation and unapplied receipt ageing. | Match receipts to invoices/bank, age unapplied receipts, review collection follow-up and test write-offs. | Customer ledger, bank statement, receipt register, settlement file, collection notes and write-off approval. | Weekly / Monthly |
| Credit notes returns claims | Credit notes, returns, rebates or claims mask collection issues or revenue errors. | Credit-note approval, reason-code review, return gate control and claim settlement workflow. | Sample credit notes, match returns to stock, review post-period notes and check claims to contract terms. | Credit-note register, return note, gate entry, claim file, approval trail, stock adjustment and GST reporting. | Monthly |
| Receivables ageing disputes | Old debts, disputed balances, unconfirmed balances or expected credit loss inputs are inaccurate. | Ageing review, balance confirmation, dispute tracker and provision/ECL review. | Age overdue balances, review confirmations/disputes, test provision policy and inspect legal escalation. | Debtors ageing, confirmations, dispute tracker, ECL/provision working, legal notices and collection MIS. | Monthly / Quarter close |
| Revenue recognition cutoff | Revenue is recognised before transfer of control, service completion or correct period cut-off. | Revenue policy, cut-off testing, contract review and deferred revenue review. | Test period-end invoices, review contracts/performance obligations, match revenue to delivery and check deferred revenue. | Revenue policy, contract, dispatch/POD, service acceptance, unbilled/deferred schedules and GL entries. | Close / Annual |
| O2C access SoD logs | Users can create customers, change credit terms, override prices, raise invoices, issue credit notes or post receipts without segregation. | Role-based access, SoD review, master-change audit log and leaver access review. | Review users/roles, test conflicts, inspect master and override logs and check leavers/shared IDs. | ERP/CRM user list, role matrix, SoD report, change log, override report and access review. | Monthly / Quarterly |
Use this with the O2C internal audit checklist, the O2C RCM template and the monitoring rules repository.
O2C internal audit is strongest when revenue evidence, customer credit, dispatch or service proof, billing, GST, collections and receivables are tested together. The workbook connects customer master, order release, pricing, dispatch, invoicing, receipts, credit notes, ageing, cut-off and system access into one fieldwork file.
The Excel export gives auditors separate sheets for engagement scope, RCM rows, customer/credit testing, order-dispatch-billing, collections/bank, credit notes/claims, ageing/cut-off, access/SoD and monitoring exceptions.
A CA firm is reviewing O2C controls for a company with ERP invoicing, GST e-invoicing, customer credit limits, card/UPI/bank collections and old receivables.
