A Report On The Accounting Software

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Created a report for Auditors that displays Accounts receivables from previous years that have been paid off this year. Made phone calls to customers with past due invoices. Received access to Great Plains accounting software. 2/25/15- Assisted the auditors in locating source documents that they were looking for and needed. Most of the source documents were related to accounts payable. Specifically, they wanted to check the employee reimbursement checks to ensure that they were being reported properly for both book and tax purposes. For book purposes meals and entertainment are counted as a full expense but for tax purpose only half of the expense is deductible. I got to learn a lot more about book-tax differences from the auditors, such…show more content…
A key factor of the lunch was communication, in which people were both talking business but at the same time building a relationship by getting to know each other and talking about their past. 2/26/16- Created an excel workbook “Deferred Revenue Balance-2016” that highlights deferred revenue. The sheet was at first intended to assist the auditors in performing their job but it will be re-used to help validate that the company is properly recognizing deferred revenue when it is earned. The reason for re-using the spreadsheet is because the company has gotten more customers than usual, who wish to pay in advance. This advanced payment creates a liability, that needs to be recognized properly. The spreadsheet was created by creating a smartlist using Great plains that displays all information related to Deferred Revenue. After creating the smartlist, the information was exported into an excel spreadsheet “Deferred Revenue Transactions”, which was all that the auditors required. Then to re-use the workbook a new sheet “Deferred Revenue Balance” was added, which pulled information from the first sheet through formulas. After creating the formulas on the second spreadsheet, any information inputted into the first sheet was moved to the second sheet in a more organized and informative display, which also displayed whether debits and credits were balanced. Now the workbook will be updated on a monthly basis to ensure proper recognition of Deferred Revenue. To
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