Chic Paint
- Submitted by: ggorvett
- Views: 60
- Category: English: Creative Writing
- Date Submitted: 06/13/2016 11:19 PM
- Pages: 9
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6. The Accounting System
6.1 The majority of CPL bookkeeping and accounting work is kept on Microsoft Excel. Originally when CPL was part of Ashtead PLC it used Ashtead’s tailored accounting system. However when the management buyout happened Chic Paints had to come off the software. For sake of speed and to reduce unnecessary costs CPL decided to keep accounts on Microsoft Excel. Chic Paints has recently upgraded its Microsoft office package to the 2013 version.
6.1.1 Members of the accounts team spend hours at month end transferring data from the excel workbooks onto ledgers Chic Paints had made especially for them. CPL could use a software that records all transactions and automatically puts them into ledgers where month end reports can be run. The ideal software should also be able to easily integrate with Sage Payroll, as Chic Paints currently runs its payroll on this software. Software that are available CPL that would suit them are Sage accounting system and Great Planes accounting system.
6.2 A written summary of the accounting system has been completed with the aid of SWOT analysis, which is included in Appendix 3. The analysis shows whether the accounting system is suitable for CPL and the role that it needs to perform.
6.3 CPL does have systems control in place. Currently computers are password protected with only the employee and manager knowing the password.
6.3.1 The accounting system does have an authorisation system which means that only authorised members of staff can access the ledgers. However this has not been set up. See paragraph 6.6 and appendix 3 for further details.
6.4 From review of the company they do have a policy handbook which was issued by the new Finance Director 3 months ago. However from review of it, there are currently not any sections regarding instructions for staff with regards to how staff members should cover each other’s work if one member of staff is absent.
6.5 Over the time period that CPL will operate, there is...
6.1 The majority of CPL bookkeeping and accounting work is kept on Microsoft Excel. Originally when CPL was part of Ashtead PLC it used Ashtead’s tailored accounting system. However when the management buyout happened Chic Paints had to come off the software. For sake of speed and to reduce unnecessary costs CPL decided to keep accounts on Microsoft Excel. Chic Paints has recently upgraded its Microsoft office package to the 2013 version.
6.1.1 Members of the accounts team spend hours at month end transferring data from the excel workbooks onto ledgers Chic Paints had made especially for them. CPL could use a software that records all transactions and automatically puts them into ledgers where month end reports can be run. The ideal software should also be able to easily integrate with Sage Payroll, as Chic Paints currently runs its payroll on this software. Software that are available CPL that would suit them are Sage accounting system and Great Planes accounting system.
6.2 A written summary of the accounting system has been completed with the aid of SWOT analysis, which is included in Appendix 3. The analysis shows whether the accounting system is suitable for CPL and the role that it needs to perform.
6.3 CPL does have systems control in place. Currently computers are password protected with only the employee and manager knowing the password.
6.3.1 The accounting system does have an authorisation system which means that only authorised members of staff can access the ledgers. However this has not been set up. See paragraph 6.6 and appendix 3 for further details.
6.4 From review of the company they do have a policy handbook which was issued by the new Finance Director 3 months ago. However from review of it, there are currently not any sections regarding instructions for staff with regards to how staff members should cover each other’s work if one member of staff is absent.
6.5 Over the time period that CPL will operate, there is...