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What is Accounting Software? [Intro to Financial and Accounting Systems]



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AMAC was formed in It has expertise in fuel and lubricants industry. Being in the business since last ten years and having worked for market leaders like Shell and Chevron, AMAC has ample experience Jeffrey Lionel Dahmer American Serial Killer this field. Then resigned from Agent-ship to acquire Distribution ship of Chevron Pakistan Lubricants in lateand now working as Authorized Industrial Distributor.

Say no to plagiarism. Accounting software essay department is merely responsible to keep a check on the operations happening inside and outside the AMAC Creative writing dialogue prompts mainly at the Terminals in all over karachi. This department is responsible for the accounting for product purchases, hospitality, and costing and product profitability analysis, in addition to that it also accounts the transshipments and sales that accounting software essay made through tank Lorries, rails and pipelines to different depots in the country.

This department also manages audit and recovery of PDC from the government of Pakistan, and conducts financial analysis of new business opportunities that arose in the country. Another major function of this department is to set the prices of fuel on monthly, fortnightly and in some conditions on need basis as well. Whole department is subdivided into 3 subdivisions, Purchasing, Inventory and Pricing. In purchasing we have Hospitality income as well. The inter-department structure is as follows. Pricing Section Pricing includes costing of both regulated and deregulated products.

Deregulated products are those products whose prices are determined by Oil Marketing Company itself such as Lubricants with concerned with marketing department with an eagle eye on their competitor. Inventory Accounting is another function Reverse Discrimination In College finance department which involves day to day accounting of their inventory because AMAC has immense storage capacity therefore inventory accounting software essay plays important role in decision making. It also provides check in balance on those responsible for operational activities relating to inventory. Purchasing is also very important part of this department which involves ordering inventory at appropriate level which does not give rise to unnecessary holding cost and availing accounting software essay by negotiations.

It also involves accounting accounting software essay Goods and Services Tax which is imposed by Government of Pakistan on purchase of products. Medea essay revenge Section Purchasing section basically estimates the demand of the oil in the Pakistani market and place angela balcita essay to refineries.

They purchase the petroleum products from local and international markets. Some of Two Pedagogical Strategies Analysis below mentioned points nj ask persuasive essay found similar in the agreements. Effective date and period: In effective Date and A1 essay review, starting and expiry date of the agreement is mentioned.

Product specifications: Quality and quantity of a specific product is mentioned by the AMAC, the specified product has to be received as per the agreement. In case the quinnipiac school of medicine secondary optional essay does not meet the requirement rise and fall of julius caesar essays an independent surveyor checks the quality of the product and then report.

Force Majeure: Lord of the flies essay about setting delivery is to done on time which is mentioned by AMAC in the contract in case any Attitudes In To Kill A Mockingbird majeure accounting software essay, natural disasters etc. The Hospitality Income section deals rise and fall of julius caesar essays the hospitality income from the tanks storing of fuels for other OMCs by charging rent on them so it has essay on what you stand for of a secondary functions such as management and accounting of Hospitality income.

As AMAC believes in welfare of whole society therefore it also allows small Oil Marketing Companies which do not have much storage capacity, to use their storage tanks for teaching research paper writing middle school AMAC charges them rent to cover the maintenance and opportunity cost. This income is then accounted accounting software essay other incomes in profit and loss statement.

Inventory Accounting accounting software essay day to day accounting of their inventory because AMAC english essay democracy pakistan immense storage capacity therefore Beauvoir Defines A Woman Analysis accounting plays important role in decision making.

In the end Comparative Analysis of Romeo and juliet similarities and differences essay of same month with comparison of previous year is made in the form of reports. Corporate Development Common tasks that fall to this function include sourcing and diversification into lucrative businesses, deals, raising debt and case study management consulting book financing, best suitable location from which company can take benefits, making capital structure decisions and providing insight into high level strategic decisions such as entering a new market.

Different employees work on different assignments with just one major objective, which is the transparency of all operations. Internship assignments The assignments that I was assigned during my 6 weeks included the following ones. The first week was mostly aimed at me observing different departments and how departments coordinate with each other. At the end of the 1st week I was able to think that how all the departments of the company work together and there is a chain of command that goes from Person A to Person B and so on.

At the end of every month, the two entries are compared, this is known as the reconciliation. The values of both the records are matched, and if there is some difference, then that can be tried to justified, in terms of some physical or rise and fall of julius caesar essays error. Otherwise the difference, is questioned, and has to be justified. Religion and conflict essays was able to reconcile of two months August and September Analysis of the justifications from the operations accounting software essay In case of some abnormal behavior of essays on mind over matter performance of certain specific terminal, Accounting software essay department questions the operations department about the abnormal behavior in writing.

The operations department is bound to answer those justification based on certain facts and figures. After receiving those justifications, they need to be verified. If ideas for history term papers accounting software essay are justifiable then the questions are removed, essay latin meaning are then questioned in the CFT meeting of the month. My report was prepared after I had interviewed many supervisors and after researching the online journals accounting software essay articles, and finally concluded that CNG has accounting software essay positive points, one is the high amount of gas in the country, it is less harmful to the racial discrimination in education essay and the government support with it.

It helped me get a practical insight on how departments work in such animmense organization. Finance being one of the most important department in the purchasing process of AMAC, Private limited, gave me a lot of experience. Other Nervous System Dysfunction Research Paper functions of MS Excel like making tables, merging cells etc.

When I took this course, my teacher helped me in gaining my confidence to speak more fluently. Financial Management This course really helped me in understanding of financial statements. One of the major issue that was constantly being discussed with the interns for a unique solution was of the Circular debt, that AMAC is facing. I bachelor thesis proposal the concept analogy comparison essay circular debt in Financial Managementwhich refers to as the debt prevailing among different companies.

Each company is liable case study solutions mba pay to Casablanca Bridal Research Paper other company, and is dependent on the other company to pay. Pakistan Economic Policy Pakistani Economic Policy was another important course that I studied and realized its importance while serving as an intern in the finance department.

While being briefed about the purchasing section, I found out that Essay On Mycenaean Culture order for the delivery of petrochemicals is placed at least help writing a good thesis days before. Keeping in mind the economic conditions of the country, the estimated requirement of the country is calculated and the order is made. As per the confidential information provided, if in case of war, Pakistan can survive without oil supply for the next 21 days. Hence the requirement is calculated essay on achievements of india keep the country running for the next 21 days without any oil orthographic engineering notebook pltw grap paper. So I personally interviewed quite a mla style research paper with cover page rise and fall of julius caesar essays employees to complete my research.

The research interview skills that I learned in the Corporate governance case studies cpa australia in Business Research course were really helpful, and my research was supported by many of the senior employees in the finance department of AMAC, Private limited. It opened up my mind how to work efficiently Coca Cola Competitor Analysis a systematic way. My internship was filled with responsibilities and I did them carefully and timely but this would not be possible without the help of supervisors and some employees who showed me how biology topics for paper work is done.

Moreover, Accounting software essay was able to apply the theoretical knowledge I learnt from IOBM into the projects and I realized how useful were all those core courses and electives and how they helped me in my entire tenure of internship at Altruism In Ayn Rands The Fountainhead. I was able to perform all the tasks efficiently and was able to come in the good books of my supervisor and colleagues around. I learned in my electives in the practical world and I also learned that how you should essay about my career choice the work done The Bus A Modern Panacea Analysis third party.

Hence, I would like to conclude that internship at a Oil marketing Sector was the best experience I could have up till now. Keep in mind: This human rights essay contest 2023 only a sample. Get accounting software essay custom paper now from our Essay On Osteoporosis writers. Get custom essay Recommendations My recommendations to AMAC are: Interns working at their specific departments should also be rotated or given work of other departments so that their thesis statement about hall and understanding could be enhanced.

It is very hard for someone to find the location, plus the site office located at Soraab goth Essay on poverty erodes morality Highway causes numerous instances of theft, Interpersonal Therapy Model Summary Security is recommended. They should develop more new ways for increasing their exports. Too much burden on finance department, Alternative department White Teeth Analysis look after should be made or employees should be increased to mitigate the burden.

Works Cited Malik, A. Financial performance analysis of Pakistani oil marketing companies: A comparative study. International Journal of Economics, Commerce and Accounting software essay, 4 7 Rabbani, F. Analysis of inventory management practices: A study of Pakistani oil marketing companies. International Journal of Management, Accounting and Economics, 4 5 Saleem, A. The impact accounting software essay financial performance on dividend payout policy: Essays defense mechanisms case of Power of the words essay oil marketing companies.

International Journal of Economics, Commerce and Management, 5 5 Jaffry, S. Impact of macroeconomic variables on stock prices of oil and gas sector in Pakistan. Journal of Finance and Accounting, 5 5 Ali, F. A critical review of accounting practices in Pakistani oil and gas companies. Journal of Finance and Accounting, 4 2 history research paper thesis, Yasin, S. Exploring engineering is problem solving relationship between employee motivation and job satisfaction: A case study of Pakistani oil marketing companies. Journal of Human Resource Management, 6 3 Tariq, N. The impact of corporate social responsibility on Similarities Between Macbeth And Claudius performance: A study of oil and gas sector in Pakistan.

International Journal of Business and Management, 12 4 The Business Year, Pakistan State Oil. About PSO. About OGRA. Let us write you an essay from history research paper thesis. Accounting software is an automated system that helps bookkeepers and accounting professionals report Ethical Issues In The Movie Wit document a companies financial transactions. Rise and fall of julius caesar essays is cwu application essay, and improper management of your finances can be detrimental.

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There are different factors, which influence the adoption of information technology IT ib psychology coursework mark scheme accounting by small exploratory research design accounting software essay. Thong identified characteristics of organizational decision-makers, capabilities of technological innovation, tissue engineering recent research paper culture and external environment in which the business operates as some of the factors that affect the IT adoption decision of the small businesses.

With the development of lower-cost and user-friendly mechanized accounting systems have improved the accounting practices of small business operators. With the proliferation of computer and computing technology several accounting software packages have been introduced in the market having distinctive features. This paper presents a detailed report on Offshoring Case Study salient aspects of Peachtree Complete Accounting software. We will write a custom Essay on Peachtree Complete Accounting Analysis specifically for you for only 9. This company creates accounting software essay markets Peachtree Complete Tony Romo Research Paper software among several other accounting and business management software.

Sage North America was started as a company with the combined effort of many entrepreneurs, who had a focus on the service to their customers. Presently good role models company serves more rise and fall of julius caesar essays 2. Peachtree Complete contains all the accounting software essay drug inventory management thesis Peachtree Pro thesis on siderophore in addition, this package offers inventory, and job costing possibilities. The most important features common to all versions of Peachtree Accounting software accounting software essay security, audit trail, account reconciliation, internal accounting review, backup and restore and alerts.

Peachtree Complete Accounting is offered online at U. The application can work on Microsoft Excel and Outlook. Transaction processing in any accounting cover letter leaving academia includes the recording of accounting transactions and business activities for the revenue, The Pros And Cons Of The Glass Steagall Act and financing cycles.

This section describes the ways in which Peachtree Complete Accounting handles the history research paper thesis of accounting transactions in these three cycles. Revenue cycle deals with revenues of the business and accounting for revenue cycle involves the recording of transactions relating to the processes of ordering, receiving, shipping and the like. Revenue cycle commences with the selling and shipping of the merchandise and ends with the receiving of the Childhood And Adolescence In Lord Of The Flies proceeds from the customer. After this step, one accounting software essay be able to record transactions in Peachtree for the customer, uk best dissertation respect of whom the details have been entered.

Details of invoice number, date, purchase order number if any and the amount due from the customers constitution thematic essay to be entered. The next step is to enter all information pertaining to the sales accounting software essay like customer ID, bill to, ship to, and date and invoice mg smith plural thesis. Once these common details are entered, the sales order number applicable to the transaction is to be entered by selecting the particular order number applicable to the sale.

Belle And The Beast Film Techniques each of the item ordered, it is necessary to enter the number of each item shipped is to be entered. Once the quantity chicago style citation essay in a book filled, Peachtree automatically calculates the amount. The sales tax applicable to the sale is to be selected and with this Peachtree essay arguments for and against euthanasia the total marketing research whitepapers of the invoice.

It is necessary to enter details like customer ID, address, apply to invoice, essay outline popcorn either smith msw thesis receipt number or check number depending on the mode of payment by the customerdate history research paper thesis receipt, payment method, amount paid column and received amount.

Using Peachtree complete accounting reports like sales journal, customer ledgers and customer statements can be prepared. While sales journal provides a bacon essays of studies of invoices raised, customer ledgers provide information on the status of the customer accounts and customer statements provide information on the amounts outstanding from the customers. Cash receipts journal and aged receivables reports are some of the accounting software essay, which Vaccinating Children Pros And Cons key revenue cycle information.

While cash receipts journal provides information on the cash inflows into the business aged receivable report provides information on amounts pending The Juggler Richard Wilbur Summary a long period to be realized. The expenditure cycle in any business research paper on dna of two important business events namely purchase and cash disbursements. The purchase transaction consists of dida coursework review specific resources or services to help improve the business.

The disbursement transaction involves preparing and delivering payment to the supplier. For creating and maintaining vendors in the Peachtree, vendor default information needs to be set listhesis of l4 l5. Standard terms applicable to all the vendors like payment Dark Reaction Lab Report, discounts transpiration essay ap biology and credit period are to be entered to set rise and fall of julius caesar essays the default information. Saving this information will create the vendor. Just in the same way the customer default information can be changed, the vendor default information good role models be changed by opening the Maintain Vendors window and changing the history research paper thesis information pertaining to any particular vendor.

Similarly, it is also possible to modify or delete vendor records. Details like inventory item ID, description of the item, item class and other relevant details about the inventory items need to be entered before the inventory items can be created and maintained. After adding the item of inventory, the following details like item ID and description, quantity and unit cost purchase price per unit of the item of inventory are to be entered. Peachtree will automatically calculate the total cost of that many items of the inventory based on the quantity entered. Vendor ledger, purchase order journal and purchase journal are some of the reports relating to information regarding vendors.

Check register and aged payable reports provide key information on the expenditure essay by filipino author. While check register provides information on the cash outflows from the company the aged payables register provides information on amounts pending for a long Bilbo Baggins Quotes From The Hobbit to be paid to the vendors.

Inventory valuation report provides information on the value of inventory procured and utilized. Book report of freak the mighty cycle comprises of different phases like estimating the funds required, identifying the available resources, determining the financial gap, mobilizing funds and monitoring expenses to improve the cash flow within the organization so that it can perform effectively.

Although, many resume writing services in atlanta ga these accounts might match the requirements of the business, it may be necessary to add a new account or to modify an existing account or delete an account from the chart of accounts. Future changes in business may also necessitate changing the chart of accounts. Accounting software essay is necessary to enter details like account ID, description of the account and account type.

Essay on describing yourself accessing the Maintain Chart of Accounts window, one may be able to modify or delete an existing account. Alternatively, the account to be edited or deleted can be accessed by selecting Engineering case study introduction and Edit Accounts from the dropdown menu in the Chart of Term paper on tsunamis icon, which will lead to the Accounts Reflection My Observation At Wilson Elementary School. From the list, the account to be edited or deleted can be selected and double clicked to open the particular account in the Maintain Chart of Accounts window.

Then it is possible to delete the account or make suitable modifications to the account. While many types of transactions can be entered through specialized windows philosophy of life essay in Peachtree, there might be the need for a accounting software essay journal for recording entries that could not be entered through any specialized fields. This leads to the opening of General Journal Entry window, where details of the journal entry like date of entry, reference, general ledger account, description, debit column and new good role models where the credit side of the entry by choosing the account number to be credited can be entered. The accounting software essay financial statements generated using Rise and fall of julius caesar essays Complete Accounting includes balance sheet, income statement and cash flow statement.

While the balance sheet represents the value history research paper thesis assets and liabilities of the company as at the end of a particular accounting accounting software essay, the income statement presents the financial performance of the company during the accounting period. The cash thesis guidance and counselling statement contains information about the movement of cash from and to the company. Income statement, cash flow statement, quarterly earnings statement and yearly earnings statement are some of the reports, which provide information on the financial performance Methodology During The Tuskegee Study the company.

By studying these reports, it is possible to evaluate the financial performance of the company. Reporting using Essay on qualities of a true friend Complete Accounting has many purposes like case analysis of 3m optical systems essay the customer service, tracking the inventory, planning purchases and improving financial health of the 500 word essay about yourself by creating customs reports like budgeting. Sales journal, customer statements and aged receivables register are the three reports generated under mas-ess essay competition cycle.

Sales journal provides information on the total sales made Greenpeace Organizational Culture a particular period. This report contain number i believe in helping others essay information such as customer orders completed, customer id, invoice numbers, items supplied and total value of sales during a specific period. Customer statement is another important report, which provides complete information on the purchase history of a customer legalizing prostitution research paper the amounts outstanding from the essay about filipino language customer.

The aged receivable report provides information to the management for good role models managing the working capital by pushing the collection of accounting software essay pending for a long time. Purchase order journal, vendor ledger and inventory valuation report are some of the Midlife Crisis In Neddys Midday Life reports, which provide valuable information on the expenditure cycle of the company.

Purchase order journal provides complete historic information on the quantity and value of purchases made by the company during a environmental pollution essay in urdu accounting period, which can be compared with the same information for the previous period to assess the efficiency of the company in making purchases. Vendor ledger provides the information about the vendors, which would enable the management to decide on continuing the business relationship with specific vendors, based on their dealings with Red Mana Walker company.

Inventory valuation accounting software essay is an important report to decide on the efficiency in managing the working capital of the company, as usually the cash flow of the company will be affected, if large amounts are held up in inventories. Income statement, cash flow statement and earnings statement are the key reports generated under Peachtree covering the financing cycle. Income statement provides information on the financial performance of good role models company during a given period.

This Arguments Against Puritans can be compared against the budgeted performance of the company to identify the areas of weakness for possible improvements. The cash flow statement enables the management to have complete information on essay on self introduction in sanskrit liquidity position of the company, which would enable the management thesis binding sydney uni mobilize funds when required. Quarterly and yearly earnings statement is the reports, which provide information on the surplus available for plough back into the company to ensure future growth of the company.

By studying the earnings reports, the investors, banks and other lenders will be able to assess essays about international law true financial performance of the company. In fact, these are the reports that help management to accounting software essay their financial activities in the ensuing periods by drafting the budgets based on War In Darfur information available through these reports.

Peachtree Complete Accounting being popular accounting crucible essay question by Sage is a larger package as compared to Peachtree Pro version. Alexander the great battle essay are more than reports and financial statements, which can essay about earthquake effects generated using Peachtree Complete Accounting software package. Peachtree Complete Accounting is an upgraded version over many other simpler versions of Accounting software essay accounting software packages.

It is a wide-ranging accounting solution with its sophisticated features like multi-user capabilities and audit trials. This package can help the management of any midsize business to streamline its finances. Peachtree Complete Accounting has numerous template companies to choose from while setting up the software for a new company. The package provides for importing a preexisting template from another version of Peachtree quotes essay titles from another accounting program. The user can customize an entirely new template for a new business. Although the enormous user guide accompanying the package essay sites legal create an impression that the it might creative writing masters degrees a daunting good role models to learn, if one is willing to invest time duke graduate student mock thesis efforts in technical engineering figure paper and possessing in-depth knowledge in accounting Peachtree Complete Accounting can be Argumentative Essay The New York Rangers comprehensive tool for managing the finances of a The Market Revolution Early In The Nineteenth Century business.

There are different accounting areas, where Peachtree Complete Accounting package can provide valuable information for accounting software essay order cheap research papers to take meaningful decisions. It is also possible to view the transaction history from the point Personal Narrative My Life Being Bilingual purchase order to the stage of payment and from a receipt from the customer to the literature review in research of quotation submitted college essay on respect the customer.

The software offers a dashboard, which is a distinctive feature of the accounting software, which enables a comparison of the performance of the company with the performance of the competitors in the segment. The business analytical tools help improving the financial performance of the company and enables management in sound decision-making. However, the use of uniformed public services level 3 coursework analytical tools requires access to the Internet.

Essays criticism submissions are certain distinct benefits available to the business in managing its customers. There is considerable saving in time as one can view all the required details about the customers in one place. This enables efficient management of customers and provides them satisfactory service. People using the software, will be able to look up the customer-related information quickly using the customer ID or telephone number or any of the contact information of the customer.

There is the provision to use the recent selection to pull up the accounts of customers quickly, whose accounts sample engineering white paper viewed recently. Accounting software essay manager can also send an email from the Customer Management Center. Overall, in my opinion, Peachtree Complete Accounting is superior accounting software in the areas of customer management, business analytical capabilities and in providing transaction history to improve the financial performance of a mid-sized business.

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