sun accounting software - A Quick Guide

This guide is aimed primarily at young graduates , entry level employees working , professional students , and anyone connected to the accounting profession (and management accounting , in particular), who want to have an overview of how you can produce a set of management accounts and resulting in production without having to read a 200 page book . Most of the knowledge provided is now the point of view of working in a service industry based and takes the reader to have a reasonable knowledge of the basic accounting concepts .

The purpose of this guide is to give the reader a series of activities that have followed in my own experience , putting together a package of monthly reports for my team. This sequence of activities and the importance I attach to each activity can be very different for the industry that you said, do not expect most of you develop an image lively and succinct process bookkeeping software for small business , then production can mimic and integrate their own particular circumstances .

So, let's start !

What do we produce?

In most organizations, the board of directors or senior management requires accounting / Chief Accountant to produce a monthly profit and the profit / income, so that the performance of the organization against established budgets (especially prepared at the beginning of each year) and must prognosis ( especially updated at the end of each month) can be measured . A monthly reporting package management accounting does not include the declaration of the rent , but a number of other useful reports also . However, an income statement is the essence of the statement and that is what we will try to produce this guide.

In short , through a set of activities for a specified period (usually one month) is determined : the revenue generated by the activity , the costs incurred in producing those revenues (commonly called "cost of goods / services sold " ) and the costs incurred in providing support to income generation and production of products / services. This cost is sometimes called cost functions or support from central overhead charges or service center .

What you need to know before production?

Most companies use a " chart of accounts " in their accounting systems ( if: Sage , SAP , Oracle , SUN, Viztopia etc ) to classify and record the different types of transactions relating to different types of assets, liabilities , capital , income and expenses .

A chart of accounts or ACO , as I like to call it, is a list of all accounts in the great book of nominal the company intends to use to record their business transactions . This list of accounts may be in the form of numbers , alphabets or alphanumeric values ​​. From my own experience , I prefer the numbers.

So , for instance , all our ACO may vary between 0.001 and 9.999 numbers in this range , we can have multiple fields , each representing an asset, liability , equity, revenue or expense type . For example , the range of 5000-5999 could represent different types of sources of revenue for the company and the range of 1000-1999 that could address all of the assets of the company.

These are just examples of how the ACO can be divided . You need to know what range of nominal codes counts / s AOC are your business revenue , cost of products / services sold, general corporate expenses, assets , liabilities and capital.

You will not be able to understand the statement ( which is basically what you are trying to produce ) , unless you understand the accounts. The income statement is essentially reading all the data in the range of ACO / s income and expenses for a month / period affecting .

Once you understand the division of ACO , you can really appreciate the model of declaration of the rent that your organization already has in place. If you are assigned the task of building from scratch, then this guide is not for you . This guide assumes that your organization already has a certain pattern of monthly report , the income tax is the main .

Many organizations produce monthly management accounts in Microsoft Excel. The bottom line, according to the company is divided into several sections. For the purposes of this guide, we will use the following sections , which are a typical result of membership:

• Turnover
• The cost of goods / services sold
• Gross Profit
• Sell
• Marketing expenses
• Contribution to central overheads
• Overloading recharge center

Each of the above sections of the tax return will consist of a series of nominal codes COA . For example , the share of income from income tax in MS Excel can be pulling together / adding data codes 5000-5999 range ledger accounting software for a given month . How to excel that? Well , most organizations use some Excel intermediate tool to extract data from the main software accounts (where a transaction log SIT) in excel . That's why it is essential to know your business COA specific , so you know what is income and what it does , for example , the cost of goods sold .

To reiterate what we said above :

ï ? § Before opening the package of reports, including monthly for your business, including the model of the income statement is the most important , you must understand the chart of accounts .
ï ? § Most of the accounts of the "packages / models are made in Excel
Transactions § ï ? ? are reported using accounting software such as Sage , Sun , SAP, etc.
ï ? § The monthly model of the income statement is divided into sections , such as income, cost of sales , gross profit , etc. Each section is reading a number of major accounts of nominal codes and software that summarize a given month periodic templates MS Excel reports .
ï ? § This information addition / collection in Excel accounting software , using the nominal codes are usually performed by a tool Excel add .

Hopefully, so far, so good! Now go ahead .

The production process

In general , the Ministry of Finance of almost all companies , from small and medium to large publicly traded companies may have the following sub - departments , either separately or in combination, in the main function of finance :

• Order Management - SOP
• Sales Ledger
• Credit Check
• Purchase Ledger
• Management Accounting
• Financial Accounting

Day after day, orders are processed in the system log sales . The registration system sales can not exist in the major software company accounts or may be a completely different system. The result of processing the sales order is the production of sales invoices .

These sales invoices are then pursued by the credit control department to collect the amounts due. Once the money is received to the bank , these revenues are recorded by the service record sales ledger accounting system .

Along with this, on a daily basis , the purchasing department of book is " invoices invoices that the company should pay for the majority of companies , registration of invoices involved. :

ï ? § Categorization / classification of each bill to a type of cost / s
ï ? § Allocating the cost of a product and / or service and / or specific business unit

For example , if a company has spent £ 5,000 in printing and binding of a magazine (assuming a magazine is a "product ", " income" / for the company) , the purchase of this manager logbook cost as direct cost (giving a code to register a nominal cost of bills chart of direct effect ) and affect the costs of " Production " and " Print Publications " business unit of the organization.

The bill is set to the time for buying books Director .

The conclusion is that every day, sales invoices are high and the sums received , along with the bills to be recorded and resolved. At the end of each month or a deadline, just before the end of the month, you ask all stakeholders and not to other inputs in the period of management accounting departments must be prepared . Your account management starts here !

MPL Media Plc

For the purposes of this quick guide , we will create a fictional company operating in the media industry monthly production . We called MPL Media Plc.

MPL means all financial functions mentioned above and the following in its organizational structure


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