® Tunku Abdul Rahman University College Faculty of Accountancy‚ Finance & Business Bachelor of Accounting Year 2 Written Assignment BACS2703 Accounting Information Systems 2014/2015 Table of Contents 1. Aims 2 2. Learning Outcomes 3 3. Group Formation 3 4. Assignment Tasks 3 5. Distribution of Assignment & Submission Date 8 6. Assignment Report Format 9 7. Assessment 10 8. Late Submission 10 9. Penalty 10 10
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Chapter I BACKGROUND OF THE STUDY I. Introduction In the 21st century‚ technology has become ever more advanced and systematized with computers and electronics continuously evolving day by day and adapting in today’s constantly changing digital world. Technology together with Information Systems has simplified almost every aspect of a person’s life today and each and every one of us has become dependent on it. Information Systems has been made open to meet the demands of the modern society
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transactions. Main Job Tasks and Responsibilities ▪ review invoices and check requests ▪ sort and match invoices and check requests ▪ set invoices up for payment ▪ process check requests ▪ prepare and process accounts payable checks‚ wire transfers and ACH payments ▪ reconciliation of payments ▪ prepare analysis of accounts ▪ monitor accounts to ensure payments are up to date ▪ resolve invoice discrepancies ▪ vendor file maintenance ▪ correspond
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an order and the time invoice of the order went into the mail. And this lag results for the delay of the costumer’s payments‚ thus slowing down collection of receivables. IV. Statement of objective The objective is to clear the bottleneck that result to unproductive collection of receivables. The company specifically the invoice preparation department must speed up the mailing of invoice to the cost mailing of invoice to the customer upon delivery. Be able to send invoices near to the time orders
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This thesis is written to bring up way to improve invoicing efficiency in Metso Minerals Inc and drive the company towards new procedures. The new solutions that are implemented support general fashion moving towards more and more automated invoice issuing. In case of Metso Minerals individual solutions are searched to find best possible way to find common practice to satisfy the needs of the customer as well as Metso. The solutions utilize SAP as ERP system as well as an invoicing tool and
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when approaching the market by seeking submissions from a limited number of suppliers Sent by the buyer to the supplier Its an invitation sent to a shortlist of bidders to make a formal and detailed offer to supply the services or goods required INVOICE Commercial document issued by a seller to a buyer‚ relating to a sale transaction and indicating the products‚ quantity and agreed prices for products or services the seller has provided the buyer Used when a customer would like to know the details
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Sending a purchase order to a supplier is a legal offer to buy products or services. If the seller agrees to selling to the buyer it forms a contract between the two. It should include: * The order number‚ so it can be traced and matched with invoices and statements * The purchasers name and address which is usually across the middle of the document * The price * The name and address of the supplier * The catalogue/reference number * Authorisation i.e. signature and date
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List of Suppliers • • • • • • • • Asian Coating Phils. Inc. Benesco Construction Supply Inc. Biz4me Enterprises. Bosny Marketing. Capomastro Inc. Century Chemical Corporation. Concord Opto Electronic Tech Phils. Hardware Alpha Trading. • • • • • • • Hunter Marketing and Dev. Corp. Hute Construction and Supplies. Neltex Development Inc. R.C Charm Marketing. Saint J Sales Enterprises. Transpo sales Inc. Uniprime Beaver. Free Powerpoint Templates Page 1 Major
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SUMMARY FOR NOTES SARS TO PAYROLL CHAPTER 2 – VAT INTRODUCTION TO VALUE ADDED TAX (VAT) What is VAT? VAT stands for Value Added Tax. Value Added Tax (VAT) is levied on the supply of goods and services by vendors or it is a tax businesses charge when they supply their goods and services. We have to pay VAT on most of the things that we buy. In September 1991‚ South Africa replaced its general sales tax (GST) with a consumption-type value added tax (VAT). The VAT is administered
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work on the PAS project had to have good communication skills. Consumer and Industrial Products‚ Inc had been using the CIMS (Computerized Invoice Matching System) system. This system would basically match invoices to purchase orders generated by the computer. Those invoices would then be paid if everything matched. If one minute detail didn’t match‚ the invoice would not be paid; delaying may accounts payable for an extended period of time. This system was not good for Consumer and
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