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Added for You - Computerized Financial Accounting - Methods and Practices - Use of software in Accounting
9/11, 2001 has hit a whole lot of business. But the most badly hit was air industry. US airlines were virtually on the ground for most of time rather than in the sky. As old adage says. Planes are safer at the ground. But they are built to fly and that where they should be all the time. Almost whole aircraft industry was badly hit by being grounded. Million of jobs evaporated and billion of dollar went under drain. All these were due to not doing anything.Peter Drucker, in his book ‘Managing for result’ defines the cost point in the whole supply chain.1. Productivity cost 2. Support cost 3. Policing 4. Waste or Idle time.Drucker accept that to some point all three cost centre productivity cost, support cost, policing cost are imperative to any business. It takes massive investment to produce something and market it successfully. A corner cutting here and there can be wel
DATA BASE
It is simple collections of information (data) on a particular subject. Data base file allows you to manipulate the data in desired form. So, data base allows us to work on facts and figures to store and manipulate that data in any desired way. For example, from the same basic information trial balance is prepared; trading and profit and loss account may be prepared; list of debtors and creditors may be prepared; purchases and sales forecast may be made and so on. So, an efficient data-base management is needed to provide flexibility in uses of information. HiTech Financial Accounting uses MS Access and MS SQL server databases for robust database connectivity.
SPREAD SHEET
It is one of the software programs which have increased the utility of computer for accounting purposes. Spread sheet programs help you to draw vertical as well as horizontal columns on a large sized paper. Each .column's length and breadth can be adjusted according to suitability. Even when columns are once drawn subsequently these c
Giving corporate or business gifts can be highly effective and is a common practice. However, if you mess up and give something that is not appropriate your intent may be misunderstood, you may ruin a business relationship or you may never get your foot in the door with a prospect.Part I of Corporate Gift Giving Guidelines covers what to avoid when giving a business gift. See below for basic, yet very critical, guidelines: Not too extravagant. You do not want the recipient to feel uncomfortable accepting the gift or feel obligated to you in any way. Also, many companies have limits on the value of a gift that their employees can accept. No religious items unless you know the person very well. These items are very personal and you do not want to offend anyone by giving them something that goes against thei
- Financial Accounting with Double Entry Bookkeeping
- Principles of Accounting
- Basic Book of Accounting - Journal
- Accounting Ledger
- Accounting Sub Journals - Cash Cook
- Subsidiary Accounting Books
- Accounting Verification by Trial Balance
- Banking Transactions Bank Reconciliation Statement
- Depreciation
- Rectification Of Accounting Errors
- Balance Sheet and Profit and Loss Account
- Single Entry Bookkeeping Accounting System
- Non Profit Organization Accounting
- Capital and Revenue
- Reserves and Provisions
In a very short span of time, computer has grown from a scientific curiosity to an indispensable tool of modem society. There is hardly any scientific/technical or business activity which is not in one way or the other, affected by modern data processing techniques.
The human mind can handle only a limited number of things at a time. The digital computer, on the other hand, can be programmed to compare, measure, calculate and evaluate thousands of readings in an extremely short period of time.
The computer industry has become the fastest growing industry these days. The sale of mainframe computers is increasing day by day. The computer industry has been further pushed up by the introduction of mini computer and micro computers which are small, cheap, reliable and very light. These are being routinely used for process control, production testing, scientific instrument recording, in store check out systems, in automobile test and evaluating systems, and medical monitoring etc.
Computers are now being used extensively in office administration to perform the routine clerical work. Today, most large and medium sized organizations are almost totally dependent on their computers. Routine uses of computers are given below:
(i) Accounting, Billing, Inventory Control Software with MIS, CRM
Computers are extensively used in accounting and there are multitude of computer software for Accounting, MIS, CRM. HiTech Financial Accounting is one such software which has been customized for users in many segments in business and services.
(ii) Payroll and personnel records.
Payroll accounting was the first commercial area to become widely computerized. The calculation of wages or salaries involves a number of variables which relate to the personal details of each employee, such as gross pay or rate for the job, individual deductions, tax liabilities of the employees and so on. These facts can be retained in the computers and processed every month of produce pay slips for the employees.
(iii) Stock control
The computer helps to exercise the type of stock control needed by the organization. It upto dates the sales and purchases records, determines optimum re-order levels for different items and prints out the stock lists when desired. The system can be so designed that it triggers orders when stock level reaches order point for various material items; tests those item which are slow moving or gives list for over stock items.
(iv) Sale accounts records
Programming can be done for any sales accounting system. The computer will pin point defaulting debtors, determine the right limit for credit for each debtor and maintain stores ledger.
(v) Costing and budgetary control
Costing and budgetary control can be affected through the computer, the computer will point out the variations from the planned performance.
(v) Production control
The computer also helps greatly in production planning and control. It is possible that scheduling of the work may become necessary due to break downs etc. A new critical path may have to be worked out. A critical path is the shortest path to be followed in production to achieve production objectives. The computer helps the management lay down this new critical path. Advantages and disadvantages of a computer
A computer is surely advantageous because of the high speed of operation and greater accuracy it provides, savings effected by better managerial control, savings in labor because it is fully automatic and finally because of its flexibility in use. However, there is a considerable capital outlay with difficulty of obtaining experienced analysts and programmers, break down and maintenance troubles and finally fear of obsolescence due to rapid development of computers.
Type of other applications in relation to accounting system
WORD PROCESSOR
It is a software package to help in text processing. Words are processed. Processing includes insertion, deletion changing, moving words, paragraphs etc. Word processing is the preparation of type scripts, using computing facilities for the storage and manipulation of text. For example, word processor has ability to merge name and addresses with standard text so as to give impression that the latter is personalized even in case of circular letter.
HiTech Financial Accounting has got features so that you can export its reports to Microsoft Word, a word processing and Mail Merge Program. You can also write letters to various parties and store the details in the program database.
DATA BASE
It is simple collections of information (data) on a particular subject. Data base file allows you to manipulate the data in desired form. So, data base allows us to work on facts and figures to store and manipulate that data in any desired way. For example, from the same basic information trial balance is prepared; trading and profit and loss account may be prepared; list of debtors and creditors may be prepared; purchases and sales forecast may be made and so on. So, an efficient data-base management is needed to provide flexibility in uses of information. HiTech Financial Accounting uses MS Access and MS SQL server databases for robust database connectivity.
SPREAD SHEET
It is one of the software programs which have increased the utility of computer for accounting purposes. Spread sheet programs help you to draw vertical as well as horizontal columns on a large sized paper. Each .column's length and breadth can be adjusted according to suitability. Even when columns are once drawn subsequently these ca
The number of office furniture manufacturing facilities is increasing in China to meet with the demand and need in the US. Offering an amazing price discount for basically the same products as their US competitors, they are gaining new business from office furniture dealers, both online and in retail establishments. When it comes to buying office chairs in bulk for an office environment, price can make all the difference in the decision making process. The Chinese market for office manufacturing, as compared to other countries which also provide volume shipments, has a market which seems to be growing at a rapid rate. With many different choices listed on a site like Alibaba, a directory of international manufacturers and shipment companies, China comes up with the most listings. New office spaces can require a large amount of working capital for buying furniture and buying in bulk
The computer industry has become the fastest growing industry these days. The sale of mainframe computers is increasing day by day. The computer industry has been further pushed up by the introduction of mini computer and micro computers which are small, cheap, reliable and very light. These are being routinely used for process control, production testing, scientific instrument recording, in store check out systems, in automobile test and evaluating systems, and medical monitoring etc.
Computers are now being used extensively in office administration to perform the routine clerical work. Today, most large and medium sized organizations are almost totally dependent on their computers. Routine uses of computers are given below:
(i) Accounting, Billing, Inventory Control Software with MIS, CRM
Computers are extensively used in accounting and there are multitude of computer software for Accounting, MIS, CRM. HiTech Financial Accounting is one such software which has been customized for users in many segments in business and services.
(ii) Payroll and personnel records.
Payroll accounting was the first commercial area to become widely computerized. The calculation of wages or salaries involves a number of variables which relate to the personal details of each employee, such as gross pay or rate for the job, individual deductions, tax liabilities of the employees and so on. These facts can be retained in the computers and processed every month of produce pay slips for the employees.
(iii) Stock control
The computer helps to exercise the type of stock control needed by the organization. It upto dates the sales and purchases records, determines optimum re-order levels for different items and prints out the stock lists when desired. The system can be so designed that it triggers orders when stock level reaches order point for various material items; tests those item which are slow moving or gives list for over stock items.
(iv) Sale accounts records
Programming can be done for any sales accounting system. The computer will pin point defaulting debtors, determine the right limit for credit for each debtor and maintain stores ledger.
(v) Costing and budgetary control
Costing and budgetary control can be affected through the computer, the computer will point out the variations from the planned performance.
(v) Production control
The computer also helps greatly in production planning and control. It is possible that scheduling of the work may become necessary due to break downs etc. A new critical path may have to be worked out. A critical path is the shortest path to be followed in production to achieve production objectives. The computer helps the management lay down this new critical path. Advantages and disadvantages of a computer
A computer is surely advantageous because of the high speed of operation and greater accuracy it provides, savings effected by better managerial control, savings in labor because it is fully automatic and finally because of its flexibility in use. However, there is a considerable capital outlay with difficulty of obtaining experienced analysts and programmers, break down and maintenance troubles and finally fear of obsolescence due to rapid development of computers.
Type of other applications in relation to accounting system
WORD PROCESSOR
It is a software package to help in text processing. Words are processed. Processing includes insertion, deletion changing, moving words, paragraphs etc. Word processing is the preparation of type scripts, using computing facilities for the storage and manipulation of text. For example, word processor has ability to merge name and addresses with standard text so as to give impression that the latter is personalized even in case of circular letter.
HiTech Financial Accounting has got features so that you can export its reports to Microsoft Word, a word processing and Mail Merge Program. You can also write letters to various parties and store the details in the program database.
DATA BASE
It is simple collections of information (data) on a particular subject. Data base file allows you to manipulate the data in desired form. So, data base allows us to work on facts and figures to store and manipulate that data in any desired way. For example, from the same basic information trial balance is prepared; trading and profit and loss account may be prepared; list of debtors and creditors may be prepared; purchases and sales forecast may be made and so on. So, an efficient data-base management is needed to provide flexibility in uses of information. HiTech Financial Accounting uses MS Access and MS SQL server databases for robust database connectivity.
SPREAD SHEET
It is one of the software programs which have increased the utility of computer for accounting purposes. Spread sheet programs help you to draw vertical as well as horizontal columns on a large sized paper. Each .column's length and breadth can be adjusted according to suitability. Even when columns are once drawn subsequently these c
Design takes many forms in different contexts. In the applied arts, such as graphic design, industrial design, fashion design, functional art, and decorative art, design is considered a noun as it is a verb.Such is also the case in engineering, architecture and other creative activities. Design allows human beings to effectively communicate ideas and information. It cuts across a wide range of applied arts from fashion design to industrial design.Design as a noun can refer to a drawing or a sketch. It could also be a graphic representation of a detailed plan for construction uses. It may also be described as a basic plan or pattern that could affect or control the environment. Design as a noun can also be used as an intent or purpose, a secret plot or ploy.In the context of a verb, design is the series of different processes involved in creating a plan meant for aesthetic and functional
(iii) Stock control
The computer helps to exercise the type of stock control needed by the organization. It upto dates the sales and purchases records, determines optimum re-order levels for different items and prints out the stock lists when desired. The system can be so designed that it triggers orders when stock level reaches order point for various material items; tests those item which are slow moving or gives list for over stock items.
(iv) Sale accounts records
Programming can be done for any sales accounting system. The computer will pin point defaulting debtors, determine the right limit for credit for each debtor and maintain stores ledger.
(v) Costing and budgetary control
Costing and budgetary control can be affected through the computer, the computer will point out the variations from the planned performance.
(v) Production control
The computer also helps greatly in production planning and control. It is possible that scheduling of the work may become necessary due to break downs etc. A new critical path may have to be worked out. A critical path is the shortest path to be followed in production to achieve production objectives. The computer helps the management lay down this new critical path. Advantages and disadvantages of a computer
A computer is surely advantageous because of the high speed of operation and greater accuracy it provides, savings effected by better managerial control, savings in labor because it is fully automatic and finally because of its flexibility in use. However, there is a considerable capital outlay with difficulty of obtaining experienced analysts and programmers, break down and maintenance troubles and finally fear of obsolescence due to rapid development of computers.
Type of other applications in relation to accounting system
WORD PROCESSOR
It is a software package to help in text processing. Words are processed. Processing includes insertion, deletion changing, moving words, paragraphs etc. Word processing is the preparation of type scripts, using computing facilities for the storage and manipulation of text. For example, word processor has ability to merge name and addresses with standard text so as to give impression that the latter is personalized even in case of circular letter.
HiTech Financial Accounting has got features so that you can export its reports to Microsoft Word, a word processing and Mail Merge Program. You can also write letters to various parties and store the details in the program database.
DATA BASE
It is simple collections of information (data) on a particular subject. Data base file allows you to manipulate the data in desired form. So, data base allows us to work on facts and figures to store and manipulate that data in any desired way. For example, from the same basic information trial balance is prepared; trading and profit and loss account may be prepared; list of debtors and creditors may be prepared; purchases and sales forecast may be made and so on. So, an efficient data-base management is needed to provide flexibility in uses of information. HiTech Financial Accounting uses MS Access and MS SQL server databases for robust database connectivity.
SPREAD SHEET
It is one of the software programs which have increased the utility of computer for accounting purposes. Spread sheet programs help you to draw vertical as well as horizontal columns on a large sized paper. Each .column's length and breadth can be adjusted according to suitability. Even when columns are once drawn subsequently these c
Online incorporation lets you form a company in just a few minutes. All you need to do is fill in personal information and the online incorporation service provider does the rest. But owing to the innumerous online incorporation service options available, it becomes difficult for the customer to get one that does the job right.Access Incorporation Services, formed in 1997, helps in registering any type of Business Corporation or even an LLC online, and all it asks from the customer is to fill out a form on their website. The claim on their website says that you can incorporate online in a matter of minutes, and you will get your order confirmation within 24 hours. Costs for a standard incorporation request range from $199 to $349 depending on the state in which you want to incorporate your company.Esquire Corporate Networks has order forms online for corporations and LLCs the United States of
A computer is surely advantageous because of the high speed of operation and greater accuracy it provides, savings effected by better managerial control, savings in labor because it is fully automatic and finally because of its flexibility in use. However, there is a considerable capital outlay with difficulty of obtaining experienced analysts and programmers, break down and maintenance troubles and finally fear of obsolescence due to rapid development of computers.
Type of other applications in relation to accounting system
WORD PROCESSOR
It is a software package to help in text processing. Words are processed. Processing includes insertion, deletion changing, moving words, paragraphs etc. Word processing is the preparation of type scripts, using computing facilities for the storage and manipulation of text. For example, word processor has ability to merge name and addresses with standard text so as to give impression that the latter is personalized even in case of circular letter.
HiTech Financial Accounting has got features so that you can export its reports to Microsoft Word, a word processing and Mail Merge Program. You can also write letters to various parties and store the details in the program database.
DATA BASE
It is simple collections of information (data) on a particular subject. Data base file allows you to manipulate the data in desired form. So, data base allows us to work on facts and figures to store and manipulate that data in any desired way. For example, from the same basic information trial balance is prepared; trading and profit and loss account may be prepared; list of debtors and creditors may be prepared; purchases and sales forecast may be made and so on. So, an efficient data-base management is needed to provide flexibility in uses of information. HiTech Financial Accounting uses MS Access and MS SQL server databases for robust database connectivity.
SPREAD SHEET
It is one of the software programs which have increased the utility of computer for accounting purposes. Spread sheet programs help you to draw vertical as well as horizontal columns on a large sized paper. Each .column's length and breadth can be adjusted according to suitability. Even when columns are once drawn subsequently these c
1. Ask Around. Find out from friends and colleagues who they use and if they would recommend them. If the designer did a good job, they will be more than happy to pass on their details. 2. Collect Examples. Make a collection of designs you like/don’t like, and give reasons for your choices, this will help you later. Find out who produced the work. Most designers will credit their work if it is on a flyer, poster or website for instance. If you love the look of a company’s brochure, try phoning them and asking who the design company was. I doubt they will mind you phoning, as it’s to praise their good judgement! 3. Search Online. Search for designers by region, speciality and experience on the Design Directory. http://www.designdirectory.org/index.php?page=directory/search You can try searching on Google but the design market has become very saturated, so sea
DATA BASE
It is simple collections of information (data) on a particular subject. Data base file allows you to manipulate the data in desired form. So, data base allows us to work on facts and figures to store and manipulate that data in any desired way. For example, from the same basic information trial balance is prepared; trading and profit and loss account may be prepared; list of debtors and creditors may be prepared; purchases and sales forecast may be made and so on. So, an efficient data-base management is needed to provide flexibility in uses of information. HiTech Financial Accounting uses MS Access and MS SQL server databases for robust database connectivity.
SPREAD SHEET
It is one of the software programs which have increased the utility of computer for accounting purposes. Spread sheet programs help you to draw vertical as well as horizontal columns on a large sized paper. Each .column's length and breadth can be adjusted according to suitability. Even when columns are once drawn subsequently these can be altered, increased or decreased additional columns can be inserted, existing columns can be deleted. It is very useful for businessmen and professionals. It enables us to study multidimensional data at one sheet and helps in arriving at logical decisions. For example, if profit and loss account has been prepared for the year 1989 and you want a comparison with 1987 figures and 1990 forecast then spread sheet shall enable you to provide two additional columns on each side for inserting 1987 actual figures and 1990 forecast estimates.
HiTech Financial Accounting software can export its report data to Microsoft Excel Worksheet which is an advanced spreadsheet application.
A series of articles are proposed to be written on the topics mentioned in this article.
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