How to Build A Near Fail-Safe Accounting System to Reduce Costs and Increase Productivity
Constructing a near fail-safe accounting system is like putting together a jigsaw puzzle; all pieces must be present and carefully placed in order to create the big picture. With accounting systems, one has to take all of the following pieces into consideration: software capabilities, hardware capabilities, training and internal procedures, support and strategic planning; AND these components must all fit and work together to create an efficient, reliable program that will take your firm’s productivity to the next level.
Ideas in Motion: Anthony Munns Assesses Risk and Rewards
With a specialty in bringing major company practices to small- and mid-sized companies, Anthony Munns spends a great deal of time helping clients adhere to regulations. Munns is head of the Risk Management Services practice for Brown Smith Wallace, LLC in St. Louis, Mo., where he performs IT audit, security, HIPAA implementation services and technology attest reviews, including SAS 70 reviews. Munns is passionate and dedicated to his work which he has demonstrated through his work with prominent companies such as Payless ShoeSource, Edward Jones and May Company.
Ideas in Motion is a monthly column designed to focus on best practices within CPA firms and organizations involved in providing technology related services.
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Accounting System Concepts |
Cash Disbursements: Automatic Voucher Selection - Part 2
This is the 2nd article in a series related to the cash disbursements function. The following segment discusses how accounts payable systems handle the automatic selection and payment of vouchers. The article also discusses the handling of discounts, placing payments on hold and adjusting payments during check processing. The article was adapted from The Automated Accounting Systems and Procedures Handbook (chapter 7).
This column presents a new accounting system concept each month that may be applicable to your organization.
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Sponsor Messages & Links
Red Wing Software
With more than 25 years of experience developing accounting software, Red Wing Software knows businesses. We specialize in providing software at a reasonable price to companies who are outgrowing their current software and need more functionality, especially where inventory is concerned. Red Wing Software offers a complete suite of software products that can integrate and work together, including General Ledger, Accounts Payable, Accounts Receivable, Inventory, Order Entry, Purchase Orders, and Payroll. For more information about Red Wing Software products, please call 800-732-9464, or...
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