Computerised Accounting Essay

This links to the G.L. control account which in the purchasing cycle is accounts payable. However, the system allows a company to set up multiple reconciliation accounts. For example, a company may want to separate the vendors by geographic region. This is easily done by having different AP control controls for different geographic regions.

Accounts receivable reflects a balance of how much money is owed to the clinic. A summary of accounts receivable can reflect any outstanding balances on a patient account and can be helpful information to the clinic, especially if a patient’s account is sent to a collection agency. Other money owed to the clinic in the form of rent, royalties, and interest should be tracked and documented in a separate area from accounts receivable. Accounts payable reflects the amount of money that is owed to others, such as overpayments due to patients and vendor invoices or statements. Business invoices or statements should be placed in a specific spot according to office protocol until each bill is paid and documented accordingly.

Patient accounting refers to the roles of the accounting department related to record charges and expenses for services provided to the patients. Patients monetary records are retain separately from their medical record. Accounts receivable is the sum owed by the patient and their third-party financiers for amenities provided to patients.

Reconciliation of the general ledger to sub-ledgers is not included in the revenue processes of this company. This can be considered a potential weakness. To prevent error in the financial statements, the company should require periodic reconciliation of the general ledger posting to the subsidiary accounts receivable ledger.

Account receivable is all of the patients records coming together to create account receivable, the money that is owed to a business by a customer in exchange for goods or services that have already been provided. In medical offices, AR refers to amounts owed by patients and their third-party payers (such as Medicare and insurance companies) for services provided to patients. AR is expressed as the total dollars owed by all patients on a specific date. Each time a service is provided and a bill is issued, the AR increases. Each time a payment is received, the AR decreases. A lower AR is better than a higher AR.

"On a monthly basis, the General Accountant reconciles the A/P account and Unvouchered account to the G/L. Any reconciling or unusual items are review by the Jr. Accountant or Assistant Accounting Clerk for investigation.

The purpose of the general journal is record the day-to-day transactions of a business. These are record of chronological transactions listed as they occur showing specific accounts affected by these transactions. The general journal entry includes the date of the transaction, the titles of the accounts debited and credited, the amount of each debit and credit, and an explanation of the transaction also known as a Narration. Although known as the book of original entry and starting point for a well-organized accounting system, it is not sufficient to prepare financial statements. This when the general ledger surface for this purpose. The general ledger is master set of accounts that summarize all transactions occurring within a business. It

Visual-i Accounting specialize in providing solutions to complete assigned roles, positions or duties related to accounting. We work as a direct representation for your company, by your company. We offer short-term or long-term service for as long as you need us. We work remotely to cut overhead cost and provide a solution suitable to your budget. We manage the process to allow your company time and resources to focus on other projects.

Company Accountant (CA) who manages the accounts department including 11 other staff members, produces monthly management accounts, approves payments to suppliers

Accounts Receivable: This count is responsible for receiving payments from memberships and different services they provide.

During my career I have covered a wide range of roles with the finance division; these include purchase ledger, sales ledger and general ledger. In addition to this I have also provided specialist support for credit card processing and process development. These roles have involved foreign currency transactions, including setting up credit card facilities for USD subsidiaries as well as processing receipts and payments, and analysing exchange differences.

Administrative Billings and Collections System - provides billings for administrative accounts receivable and provides internal accounting control and reporting.

2.(2 points) What is the check mark icon on the Standard Tool bar used for? What is the white box at the top left of the SAP system used for?

Nowadays, information and the value of information become the very important things, especially in the business concepts. Therefore, the company is like a race against the time to manage all resources in a single integrated database to supply real-time data. They are implementing a computer software as well as Enterprise Resource Planning (ERP), an information system which is used to integrate and control all company resources (Mabert 2003). There are at least three stages of the key success factors of ERP implementation in an enterprise: the planning effort, the implementation decision, and the implementation management. The first factor, planning effort, is all stages before ERP project commencing such as executive support and their contribution in the project planning, team formation, and technology issues. Implementation decision, as the second key success factor, is the strategies to implement the project, such as the big-bang approach or the phased-in approach, include software customization and re-engineering. The last factor, management implementation, is all actions or variations during the project implementation (Mabert 2003). In conjunction with the key factors of ERP implementation mentioned above, this essay aims to discuss the benefits as well as the disadvantages of ERP, then to analyze the role of ERP in supporting budgeting process.

I, Surbhi Singh of B.Tech (Computer Science and Technology) hereby declare that the project work entitled “Customizing and Developing Accounts Receivables in Accounting Software developed using salesforce” submitted to the Amity University Uttar Pradesh, is a record of an original work done by me under the guidance of Mr. Ashish Tomar, Director, Versatile Knowledge Consultants Private Limited(Jaipur), and this project work has not performed the basis for the award of any Degree or diploma/ associate ship / fellowship and similar project if any.