Bsa 310 Accounting System Paper

Accounting System Paper

University of Phoenix

Business Systems

BSA/310

July 7, 2013

Accounting System Paper

When entrepreneurs go in search of a new business idea, they rarely take into account the need for finance and accounting. Even in the early stages of a company finance and accounting is usually thought about on a very high-level with most of the effort focusing on production. This only lasts for a short time because these risk-takers discover that for a business to run properly, it needs to have a good finance and accounting strategy in place. Those strategies will consist of different systems and technologies, depending on the size of the company, but they will help that company operate more efficiently. Kudler Fine Foods is not different. They are a mid-size company that has a more sophisticated system in place that automates nearly all aspects of the finance and accounting business.

For Kudler to monitor the finance and accounting activities within the company, they have deployed a robust Retail Enterprise Management System that has several modules that are linked. Many of those modules input data into databases provided my Microsoft Access to be accessed when needed at a later time. Those modules are (Kudler Fine Foods, 2013, para. 2-5)

* General Ledger Module – This is a high-level module that handles the reporting for other modules, budgets, and some non-financial accounts.

* Accounts Payable Module – This module is responsible for paying out to vendors; handling taxation; issuing of checks, and handling data from the POS (Point of Sale) module.

* POS (Point of Sale) Module – This module is responsible for collecting all data from the various stores to include hat was sold, where it was sold, how much it cost, time and date, and all sales transactions (credit and debit). The POS module interacts with many other modules to assist in their functions.

* Bank Reconciliation Module - This module takes care of the bank accounts by...