03 Discussion - Creating Efficiencies through Accounting Systems Now that you ha

Question

03 Discussion - Creating Efficiencies through Accounting Systems

Now that you have been working with the software for a couple of weeks, you may have noticed that this type of software can be helpful for an accounting department.

Companies may have multiple computer systems and need to find ways to consolidate data for financial reporting. Often billing, payroll, and inventory systems are separate from the financial reporting systems. The more open accounting systems are to data interchange, the more useful they are to the organization.

First Post: What information do you think would be beneficial to import into the accounting system to assist with efficiencies and meet organizational needs? How does the Internet play a role in data sharing?

Second Post: Come back after the initial post and post an example of a company that has integrated their accounting system with another system or post a follow up to a classmate's post with an example of what they posted as their example.

Students post : The information that I think should be imported would be information like, address, name, number, email address, bills, payments, refunds. All of this information is necessary in order to make sure the right person is getting paid for the right amount. With the internet it would allow data sharing to become easier and more efficient. There are so many things that the internet can help accomplish like having your information saved to a cloud. You can login from anywhere and transfer whatever files you may need.

Explanation / Answer

First Post :Information which is benifitial for importing to accounting system is, like what are the expences which employee made during working hours, amount of hours he spent apart from working, we can also includeremarks of the employee.

Existing employees, leads, vendors, items and other lists like these can be imported to accounting software inorder to make payments etc.

Second Post : Yes what studhent said was right, we can integrate address, names etc. inorder to make a group of information together and cantrack the information of one's individual by making it private and can save it in cloud so that one can get through thier details anytime they want.

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