Kudler Fine Foods Accounting System
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Kudler Fine Foods Accounting System
August 9, 2012
BSA/310
Introduction
Kudler Fine Foods is a young company, that has expanded rapidly, and it has created a need for a custom accounting system. The current accounting structure is fragmented, because each store has separate systems; which is subject to errors due to manual input. The recent expansion demanded increasing the staff, so accounting policies and procedures need to be established and enforced.
Key Features
The new accounting system will contain the basic accounting features: general ledger, accounts receivable, accounts payable, point of sale/inventory data, and asset management. The customized components will be the interaction of existing systems, used by other departments, and 24 hour tech support.
The general ledger displays the chart of accounts for Kudler Fine Foods, with lender and ever-evolving vendor information. It will track the balance sheet, cash flow, and the income statement for future financial reporting. This combined financial information will illustrate trends of each store and the company, for each quarter and the fiscal year. A budget can be developed or restructured using trend information.
The accounts payable and/or receivable will ensure vendor accounts and loans are up to date. It will monitor activity on multiple vendor and bank accounts, which may include international transactions. Purchase orders and cash transactions, used to purchase local products and produce, will be recorded and require additional verification.
The point of sale/inventory will handle all electronic transactions and credit processors. The debit and/or credit card transactions make-up 85% of the entire company’s business. The point of sale feature will feed data into various departments, such as, item(s) sold, price, code, cost, quantity, and salesperson.
Core Technology
The technology needed includes a server and a platform that connects all stores to a main database....
August 9, 2012
BSA/310
Introduction
Kudler Fine Foods is a young company, that has expanded rapidly, and it has created a need for a custom accounting system. The current accounting structure is fragmented, because each store has separate systems; which is subject to errors due to manual input. The recent expansion demanded increasing the staff, so accounting policies and procedures need to be established and enforced.
Key Features
The new accounting system will contain the basic accounting features: general ledger, accounts receivable, accounts payable, point of sale/inventory data, and asset management. The customized components will be the interaction of existing systems, used by other departments, and 24 hour tech support.
The general ledger displays the chart of accounts for Kudler Fine Foods, with lender and ever-evolving vendor information. It will track the balance sheet, cash flow, and the income statement for future financial reporting. This combined financial information will illustrate trends of each store and the company, for each quarter and the fiscal year. A budget can be developed or restructured using trend information.
The accounts payable and/or receivable will ensure vendor accounts and loans are up to date. It will monitor activity on multiple vendor and bank accounts, which may include international transactions. Purchase orders and cash transactions, used to purchase local products and produce, will be recorded and require additional verification.
The point of sale/inventory will handle all electronic transactions and credit processors. The debit and/or credit card transactions make-up 85% of the entire company’s business. The point of sale feature will feed data into various departments, such as, item(s) sold, price, code, cost, quantity, and salesperson.
Core Technology
The technology needed includes a server and a platform that connects all stores to a main database....