Questions On The Sage Accounting Package

Preferred Consulting will install QuickBooks 2015 Pro software on your computer’s hard drive. Next, we will setup Cutting Edge as a sole proprietor organization that is engaged in service and product sales, so the software knows how to account for all the transactions and taxes your company may incur during the year. Then we will enter your customers, vendors, supplies, and inventory that your business uses to conduct daily operations. Every transaction your business performs will be entered using the appropriate section of QuickBooks Pro 2015, and the amounts are automatically distributed to the selected chart of accounts. The chart of accounts records every transaction that is entered and keeps running totals of revenues, expenses, equity, liabilities and inventory.

Improved visibility and auditability of transactions because each expenditure is posted to the system with its own unique identifying transaction number.

It is to help in ensuring that the inventory is up to date and helps in determining the material that can be seen if there is a discrepancy in the inventory or the bill of materials for the finished product. It also is done periodically to help identify the material that is not being used and can be disposed of properly. It is a good way to ensure that inventory problems can be resolved before an issue in production (Wisner , Tan, & Leong, 2012).

This method we believe allows us to see our profits, resources, debts and other information that will give us a more realistic view on where we stand as a company. match the economic reality.

When it comes to managing your business, Peachtree accounting software by Sage is one of the most efficient software programs on the market. It can help you keep up with your office books, from payroll to accounting to customer accounts. Peachtree makes life a little easier

According to Peachtree.com, it appears the newest Sage Peachtree Pro Accounting software has more features and tools for one to use in tracking business needs. The new 2012 product allows the user to track inventory control, business

Managerial accounting focuses on the needs of internal users (managers) and on data relevant for decision making.

Develops and maintains up-to-date correspondence, filing, logging, and bring forward systems in the unit, and provides follows up to ensure responses are prepared in timely manner and are consistent with company standards.

Many users claim that Sage 50 Accounting has a more complex interface than QuickBooks Accounting has. Each of the software have the ability to customize for easier access, however, the navigation of QuickBooks is overall more simplified for the average user.

Managerial Accounting reports are primarily used by supervisors, line managers, process owners, as well as executives, to gain a better understanding of the current financial and operational health of the organization. (Internal)

It provides the most comprehensive tools for small business financial management. It is used to track expenses, prepare and send invoices, prepare financial statements, track inventory levels, and many other jobs that small businesses must perform to stay successful. New versions like Simple Start for new businesses and Enterprise version for larger businesses is currently out on the market available to purchase. Besides the desktop software, QuickBooks is offering an online version which is hosted though the online edition.

To be able to give Accounting Technology students quick reference when it comes to Income Statements.

Sage Accpac ERP is a world recognised system, implemented over 500 organizations locally. System is focussed on automating the financial and operation transactions of an organisation and providing online real time financial reporting information.

| Used to keep track of all the financial transaction in a business such as all items purchased, all bills paid, and all payroll calculations

Its role is to provide the information to those making decisions, usually the managers of the business. The information gathered will help managers with their decisions.