1. Operational Accounting and Financial Information Systems

2. Integrated Financial Accounting System and its Major Components
Order Processing
Accounts Receivable
Fixed Assets
Customer
Management
Inventory
General Ledger
Payroll Totals
Purchasing
Accounts Payable
Creditors

3. INPUT OUTPUT ACCOUNT RECEIVABLE SYSTEMS
Cust. Statements
Payments
Schedule of Accounts Receivable
Sales Orders
ACCOUNTS RECEIVABLE
Adjustments (Returns, Credit Memos)
Aging Report

4. INPUT OUTPUT ACCOUNT PAYABLE SYSTEMS
Cheques to Creditors
Payments
Schedule of Accounts Payable
Purchase Orders
ACCOUNTS PAYABLE
Adjustments (Returns, Credit Memos)
List of Bills due

5. Inventory Control System
It provides input to the General Ledger System and receives input from the purchase order and the sales order systems.
The basic purpose of the system is to keep track of inventory levels and inventory costs.
The system maintains information about each stock item, such as
stock numbers and stock descriptions,
receipts
issue of stocks
stocks damage and
stock balances.

6. Purchase Order Processing System
The Purchase Order Processing System processes purchase orders and tracks which purchase orders have been filled, which stock items ordered are on backorder, which stock items have been damaged or do not meet the specifications of the original order, and which orders are still on order and when those orders are expected to arrive.
The Purchase order system provides information to the accounts payable and inventory systems. The system produces a variety of reports, including a list of all stock on backorder and an open-order report that lists orders not yet received and their expected arrival dates.

7. Payroll System
The Payroll System processes wage and salary such as payments to employees; deductions from employee paychecks; and payments to federal, state, and other taxing agencies for taxes owned. The payroll System produces such reports as the weekly payroll summary report, overtime reports, forms for taxing agencies such as wage and tax statements (Form W-2), payroll checks, and checks for payroll taxes owed to taxing agencies.