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© 2003, Educational Institute Chapter 9 Accounting Applications Managing Technology in the Hospitality Industry Fourth Edition (469T or 469)
© 2003, Educational Institute 1 Competencies for Accounting Applications 1.Identify features and functions of an accounts receivable module for an automated accounting system and explain how managers use accounts receivable reports generated by the accounting system. 2.Identify features and functions of an accounts payable module for an automated accounting system and explain how managers use accounts payable reports generated by the accounting system. (continued)
© 2003, Educational Institute 2 Competencies for Accounting Applications 3.Identify characteristics of hospitality operations that affect the design of a back office payroll module for an automated accounting system. 4.Identify characteristics of hospitality operations that affect the design of inventory and purchasing modules for an automated accounting system. (continued)
© 2003, Educational Institute 3 Accounts Receivable Module Functions Maintains account balances. Processes billings. Monitors collection activities. Generates aging of accounts receivable reports. Produces an audit report. May contain credit history data.
© 2003, Educational Institute 4 Customer Master File Data Account code Name of guest or account Address Telephone number E-mail address Web site address Contact person Type of account Credit limit Last payment date Last payment amount Credit history
© 2003, Educational Institute 5 Accounts Payable Module Functions Posts purveyor invoices. Monitors vendor payment discount periods. Determines amounts due. Produces checks for payment. Facilitate reconciliation of cleared checks. Generates reports.
© 2003, Educational Institute 6 Vendor Master File Data Vendor name Contact name Address Telephone number E-mail address Web site address Vendor payment priority Discount terms Discount account number Invoice description Payment date Year-to-date purchases
© 2003, Educational Institute 7 Payroll Module Functions Maintains employee master file. Calculates gross and net pay. Prints paychecks. Produces payroll tax registers and reports. Prepares labor cost reports.
© 2003, Educational Institute 8 Employee Master File Data Company employee number Name of employee Address of employee E-mail address of employee Social security number Job classification(s) Wage rate code(s) Withholdings Deductions
© 2003, Educational Institute 9 Inventory Master File Item name Item description (brief) Inventory code number Storeroom location code Item purchase unit Purchase unit price Item issue unit Product group code Vendor identification number Order lead time Minimum-maximum stock levels Date of last purchase
© 2003, Educational Institute 10 Inventory Status Physical inventory: physical count of items in inventory Perpetual inventory system: running balance of issued/stored items Inventory variance: differences between a physical count of an item and the balance maintained by the perpetual inventory system
© 2003, Educational Institute 11 Inventory Valuation First in, first out (FIFO): items are valued on the basis of the most recently purchased items. Last in, first out (LIFO): items are valued on the basis of cost of items placed in storage the earliest. Actual cost: actual cost of items stored. Weighted average: “weights” value of items on the basis of the quantity of items in storage at each price.
© 2003, Educational Institute 12 Minimum/Maximum Purchase Order System Minimum inventory levels: safety level—minimum quantity below which inventory items should not fall Maximum inventory levels: highest quantity above which inventory items should not rise Usage rates: number of purchase units used per order period Lead-time quantity: anticipated number of purchase units taken from inventory between the time an order is placed and the time it is delivered Order point: number of purchase units in stock when an order is placed
© 2003, Educational Institute 13 E-Procurement Sell-side model: placing an order directly with a supplier over the Internet—“many to one” environment Buy-side model: using Web-based services to purchase from approved vendors—“one buyer, many sellers” environment E-marketplace model: virtual shopping mall—“many buyers, many sellers” environment Contract compliance: conformity to volume purchasing contracts negotiated by hotel chains, franchise organizations, associations, consortia, or representation firms
© 2003, Educational Institute 14 Enterprise Reporting Enables corporate managers to monitor transactions and affect unit-level operations: Sorts data from units grouped by: Regions Price points Other variables Implements pricing and/or accounting changes for: Regions Price points Other variables
Aims e-Business Applications An Overview of Aims Inventory and Procurement Management Design By: Shaikh Abdul Aziz.
Chapter McGraw-Hill/Irwin Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Cost of Sales and Inventory 6.
FINANCIAL MANAGEMENT SYSTEM Balance sheet Profit and loss Sales Claims/Warranty Stock Payroll Purchases Assets Cash Taxation Borrowings Risk DisclosuresManagement.
Mr. Accountant Company Types Mr. Accountant can set customized settings with the program profile.
The Office Procedures and Technology
Hotel Management System SARA Infotech (P) Ltd. Bombay, India.
ACCOUNTING FOR MERCHANDISING OPERATIONS
Receiving, Storing, and Issuing
Chapter 8 Procurement and Human Resource Business Processes
© 2003, Educational Institute Chapter 1 Hospitality Technology Systems Managing Technology in the Hospitality Industry Fourth Edition (469T or 469)
© 2003, Educational Institute Chapter 6 Point-of-Sale Technology Managing Technology in the Hospitality Industry Fourth Edition (469T or 469)
Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Inventories: Measurement 8.
Chapter 5 Expenditure Cycle Applications. Expenditure Documents i.Purchase Requisitions ii.Purchase Orders iii.Receiving Report iv.Voucher Systems v.Invoice.
Chapter 6 Inventories and Cost of Goods Sold. Gross Profit and Cost of Goods Sold An initial step in assessing profitability is gross profit (profit margin.
Chapter 21: managing payroll and inventory
Collecting and Reporting Accounting Information Design of an effective AIS begins by considering outputs from the system. Outputs of an AIS include: 1.
Setting Up the INVENTORY & SERVICES Module Slideshow 8 A.
Chapter Lead Black Slide © 2001 Business & Information Systems 2/e.
Accounting for Materials
Perpetual Inventory System
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