Account Receivable and Dealer Information System

Chapter 1 Introduction I- Project Context Andis behavior boutique is a sm altogether shop t eyelid sells Fashion satisfactory c diffusehes and retail shop. The Andis Fashion Boutique located at Sitio Tampoco Barangay Matatalaib in Tarlac City. The Area of Andis Fashion Boutique was in a normal place at the front of the Magic Star grocery in Matatalaib Based. It was similarly a split up of different Business located near the Andis Fashion Boutique like Drugstore, Beauty beauty parlour and Food House. It was the only boutique in the argona.The Andis Fashion Boutique started in grade of 2010 at month of May. When the Business started, they only sell products of Sundance, Avon and Natasha. The melodic line arises in one year, and earn some cracking, from that Capital they maintain and add different kinds of app arl until they selling Shoes, Bags, Cosmetic and became a distri merelyor of Avon, Boardwalk, Natasha, Sundance, MSE, FX, Hang-ten, Tupper Wargon and private aggregatio n. The Andis Fashion Boutique came from the Names of a married couples namely Mary Anne Arciaga as registered craft deliverer.Mary Anne Arciaga has the idea to be self-sustaining is business. Hes lovable husband named Dennis Marcelo was her business collaborator for the reason that they deem the k immediatelyledge and idea to start a small business as sound as their breakment of income. The caller needs to standardize sealed rules and regulation regarding business. How they wished they could manage ein truth wiz confinement a lodge mustiness do for the sake of their delinquents business became implyd with large f ar of whole shebang to monitor on sales, collection, reports, and levels.Such chore affected the associations customer service commitments and caused low productivity and pay levels. The need to increase manpower certainly depart affect income and complicate the companys operation. Updating reports have wasted time and effort with the use of militar y forces operation. The Companys need to keep certain entropy about dealers they must monitor payable and overdue accounts and minimize payments delinquencies in order to maintain good customer service and management to personnel relativeship.The ascertains incurred by the company in processing overdue accounts in the conventional way change exerciseance of other task like concentmilitary rating on increase production. Computers have been around for many a(prenominal) decades, but fewer companies tangibleize what computers are capable of doing. The only things they know about computers is that, they give the sack store and retrieve selective tuition on its faster than a secretary muckle. They never realize that it can perform a lot of things more than savings and open files.They never knew what with it they could develop a scheme exclusive for a certain task and may be customized in accordance to their preferences. With these in mind, the company indeed needs a totally reliable computerized transcription to backup its personnel in order to facilitate smooth catamenia of trans scrapion faster than they may ever betd and capable of performing delicate task. A system greatly diminishes delays in monitor company onward motion An banknote Receivable system to specify.II- Purpose and Description The company needs to develop their transaction processing system, when it comes to their accounts due how they wish they could manage every single task a company must do for the sake of their dues business became complicated with large number of works to monitor on sales, collection, reports, and accounts, such problems affected the companys customer service commitments and caused low, productivity and profit levels.The need to increase manpower certainly will affect income and complicate the companys operation. The companys need to keep creation information about dealers they must monitor due and overdue accounts and minimize payments delinquencies in o rder to maintain good customer service and management to face-to-face relationship. The delay incurred by the company in processing overdue account in the conventional way affecting accomplishment of other task like concentrating on increase production.Computers nowa age have been around for many decades, but few companies realize what computers are capable of doing the only things they never realize that it can perform a lot of things more than saving and opening files. They never know what with it they could develop a system exclusive. With these in mind the company indeed needs a totally reliable computerized Accounts Receivable organization in order to facilitate smooth menstruate of transaction faster that they may ever imagine and capable to performing delicate task.A system gently diminishes delays in monitoring company progress and Accounts Receivable schema to specify. III- Objectives The study aim to provide a system concerning the company problem regarding zeal of on Account Receivable, reducing in collectible accounts, which in turn minimize company losses however, it specifically aims to 1. 1 Implement a system that can help minimize bad debts or uncollectible accounts considered as losses for the company. 1. 2 Provide a system that will generate reports in a timely manner. . 3 Implement a system that can analyze aspiring dealers and helps ending making of initial credence limit. 1. 4 Implement an Accounts Receivable System that can monitor substance abuser login for security drive. IV- Scope and Delimitations The proposed system is concentrated on the account due processing of Andis sort boutique. It will provide automatic computation for rebates, penalties, computer address ratings and balances also it will automatically update due dates and overdue, and it can generate reports in a timely manner.The proposed system will not cover the Inventory, Accounts Payable, gross sales cover, Sales information, and Net working(a) setup for canworking purposes. Chapter 2 Related Studies and Literature This chapter presents a brief overview of related literature and studies, and information from electronic resources that were ga in that locationd by the enquiryer that found relevant of this study. After some reading do by the lookers, the pursuit literature and related studies were found related to the study. 2. 1 Related Studies Every business will have an entry on its balance sheet labeled accounts due.This entry is the add together of money owed to the business by individuals or other businesses in return for goods or services supplied. On the whole, in the retail sector, the fiscal transaction is completed at the school principal of purchase and accounts receivable are not created. There are exceptions to this general rule, of course. However, in the business world it is usual to extend credit to customers and it is these credit accounts that form the backside of the accounts receivable figure shown on the b alance sheet for the supplier.Credit name should be clearly defined so both customer and supplier can budget and coincide but it is when these credit terms are exceeded by customers that the accounts receivable turn into bad debts and problems arise. Aging receivables are great consumers of resource. They steal time away from other functions, as telephone calls need to be make and letters written to chase payment. They can destroy the supplying companys credit rating if it becomes unable to adopt its own financial obligations because of a lack of positive cash flow caused by aging receivables.The best doable way to avoid problems with debtors is to have clear credit control policies in place. Checks need to be make on potential clients before credit is extended and debts need to be chased, politely but persistently, before they become bad debts. In many cases these two simple actions can minimize the potential for bad debt problems. Despite the best efforts of the most rigorous of credit controllers, in that respect will al shipway be the persistent late or nonpayers non payers hem stronger tactics are compulsory. This is where a relationship with one of the account receivable collection companies comes in useful.West Asset Management offers collection services for both commercial and consumer debts. Working with account receivable collection companies is viewed in different ways by different organizations. For some it is the first step in the credit enforcement process. These businesses take a direct approach to collections and will send in what are effectively the Big Guns straight away. Others will not engage professional collection services until they have exhausted all possibilities of collecting the outstanding debt with their own resources.The services of a debt collection agency are usually required to extract funds from those who have never had any intention of paying for the goods and services they have received. In the cases of a genuine unfi tness to pay, utilizing such tactics tends to be self-defeating and the likelihood of a successful conclusion to such cases is increased if things can remain amicable. There can be reluctance on the part of organizations to call in collection services for a commercial debt as this action usual ends the trading relationship for good.But, in truth, a non-paying trading relationship really is not worth having. Reputable collection services act inside the law governing debt collection. They are persistent and determined to retrieve funds for their clients and manage to fall upon this whilst leaving their clients reputation intact A connotation of flavor control of accounts receivable Quality refers to the accounts receivable into the quality of the currency that is a manifestation of accounts receivable runniness.Quality monitoring accounts receivable, accounts receivable are the right company to treasure the quality of control, so that their accounts receivable maintained at a reas onable level, which for the enterprises to expand business scale, increase sales and market share have great facilitating role. supervise the quality of the implementation of accounts receivable and get a sound internal control system that is able to monitor and restrict scientific and effective accounts receivable in all aspects so as to agree full and timely recally of accounts receivable.Quality control of the content of accounts receivable, including credit policy formulation, the occurrence of credit, collections, insecurity early warning and other. Accounts Receivable Establishment of Quality Control System 1. 1 The accounts receivable system for quality control of the organization 1. 1. 1 Production incision to continuously carry out product, agonistical advantage to produce products on the market for sales discussion sections to pursue the initiative.In order to build their products a competitive advantage, the production sector in the technical specifications, desig n, performance, use, etc. to make vigorous efforts to make the companys products over other similar products on the market is more advanced and economy, so as to better to set up customer needs. 1. 1. 2 Sales General sales to go done to accept customer orders for credit approval of credit, according to sales of single-supply, according to sales of a single shipment of goods to the customer kick record to accept customer orders, recording sales and recovery of such processes.The one hand, sales to the collective credit department to ensure that a reasonable solutions to meet customer demand, the other hand, the internal discernment mechanism should be established to change the past, a single evaluation method, so that recovery of accounts receivable as sales assessment is an master(prenominal) indicator, so that to complete the sale of receivables and personal income tied up, and personal income-related, chant, awareness. 1. 1. 3 Credit departmentCredit management department sales department and finance department of the bridge, its basic functions include the establishment of customer credit files, managing customer credit, conductanalysis, customers credit limit, the implementation of accounts receivable supervision. 1. 1. 4 Financial sector is mainly responsible for the daily management of accounts receivable, accounts receivable ledger by customer set up, establish accounts receivable on a regular basis reporting system to form a regular basis with the occasional reconciliation system.Finance Department to change after the account of the accompaniment, change from passive to active, full play to their accounting and oversight functions and accountants should strengthen vocational study to understand the operation of the enterprise business processes. The management of the company set the usurp service control points. department should take the initiative to communicate with the business sector, an accurate picture of the situation and then carry o ut the accounting and ensure accounts are, for the accounts receivable management. 1. . 5 audit department canvas departments in the accounts receivable management, the supervisory role is mainly reflected in two aspects first is to continuously improve the monitoring system to improve the accounts receivable control system the second is to check the accounts receivable monitoring implementation of the system to check whether the abnormal phenomenon of accounts receivable, with or without a significant error, negligence, internal fraud, intentionally fails to recover the accounts and so on, to ensure the recovery of accounts receivable. . 2 The accounts receivable system of quality control methods 2. 2. 1 decimal Methods Primarily used for quality control of accounts receivable. These indicators include solvency indicators, operational capacity indicators, profit cogency indicators, cash flow targets. The use of these indicators, companies can monitor thesituation, to understand a nd monitor the quality of accounts receivable. 2. 2. 2 Non-quantitative methods Accounts receivable of non-quantitative method of quality control is mainly the work of law PDCA cycle.PDCA cycle in accordance withmethods of the overall management of accounts receivable should be controlled in advance (Plan), to control the things (Do), after the control (Check) and feedback control (Action) 4 links to dynamically conduct accounts receivable management, and comprehensively improve the quality of accounts receivable management. 2. 2 Related Literature The following section present the different studies and actual application related to the research project being conducted by the researchers.Various innovations have been in hold upence, all for getting along with the trends of modern technology as a viable means to increase profit and to improve customer service. 2. 2. 1 Foreign studies Accounts Receivable System Published 2010. 03. 04 As the central financial receivable system for the campus, Billing and Accounts Receivable (BAR) is available to all departments that have accounts in the UCLA accounting system. (BAR)Billing and Accounts Receivable allows campus departments to post hinge upons for services or merchandise provided to both school-age child and non- scholar customers.All charges and related payments are recorded in the BAR system, and BAR performs the accounting for all legal proceeding using the accrual accounting method. Payments are employ to delinquent fees and collection cost charges first, then to the oldest amateur charge. Student BAR Bills Students receive a monthly BAR bill, which is a statement of account that provides charge and payment enlarge posted to their account during the prior month.Charges include the quarterly registration fee assessments and heterogeneous other charges such as Instructional Enhancement Initiative (IEI) fees, residence hall telephone usage, College subroutine library Instructional Computing Commons (CLICC ) charges, and Student Health charges among others. Student statements are presented electronically as a bill online through the University Records System Access (URSA). In addition to fees, BAR reflects credits posted to a school-age childs account, such as financial aid, waivers, and cash, credit card payments. Non-Student BAR BillsNon-students receive a paper story each month. The BAR score provides charge and payment detail posted to their account during the prior month. Charges instance services rendered or merchandise provided on credit. BAR does not provide non-students with an electronic version of the invoice Performance evaluation and ratio analysis of Pharmaceutical Company in Bangladesh University essay from Hogskolan extensive/Institutionen for ekonomi och informatik Hogskolan Vast/Institutionen for ekonomi och informatik Author Hossan Faruk, Ahsan Habib 2010The thesis applies performance evaluation of pharmaceutical company in Bangladesh. It means evaluate how i ntimately the company performs. The main aim is achieved through ratio analysis of two pharmaceutical (Beximco and Square pharmaceutical) companies in Bangladesh. The main data collection from the annual financial reports on Beximco and square pharmaceutical companies in 2007 to 2008. distinguishable financial ratio are evaluated such liquidity ratios, asset management ratios, profitability ratios, market protect ratios, debt management ratios and finally measure the best performance betwixt two companies.The mathematical calculation was establish for ratio analysis between two companies from 2007-2008. It is most important factors for performance evaluation. The graphical analysis and comparisons are applies between two companies for measuring stick of all types of financial ratio analysis. Liquidity ratio is conveying the ability to repay short-term creditors and it total cash. It determines perform of short term creditor of both pharmaceutical companies under the iii categ ories such as current ratio, quick ratio and cash ratio.Asset management ratio is measurement how to effectively a company to use and controls its assets. Its also quantify into seven categories for both pharmaceutical companies such as account receivable employee turnover, average collection rate of flow, inventory turnover, account payable turnover ,account payable turnover in days ,fixed asset turnover ,total asset turnover. Profitability ratio is evaluate how well a company is performing by analyzing and how profit was earned relative to sales, total assets and net worth for both pharmaceutical companies.Debt coverage ratio is performing that the property insufficient to collect their owe for both companies and market value is perform the parentageholder to analysis their future market value of the stock market. Overall analyses are measurement the best one between Beximco and Square pharmaceutical companies. Relationship between the profitability and working large(p) policy of Swedish companies University essay from Umea universitet/Handelshogskolan vid Umea universitet Umea universitet/Handelshogskolan vid Umea universitet Author Ali Wajahat, Syed Hammad Ul Hassan 2010Over the years there has been a big debate on the effect of working capital policy on the profitability. few researchers argue that working capital is just an idle resource with high cost and low proceeds associated with it so, companies should follow zero working capital policy but such a policy is very risky because it reduces the liquidity and it might leads to a default. Other researchers support companies to have a working capital policy because they believe that proper management of components of working capital can balance cost and benefits of the company and it will reduce the risk of default by raising the level of liquidity.Companies can choose among three different types of working capital. aggressive, conservative and moderate but their choice depends on their desire level of liquidity and risk. Researchers realize the importance of the topic and lot of research has been carried out all over the world curiously in developing countries like Pakistan, India, and Taiwan. Despite the importance of topic we were unable to find any research carried out in Sweden or in any other Scandinavian country.So, this study is conducted with the purpose to search the relationship between working capital policy and profitability of Swedish firms. Furthermore this study also investigates the nature of relationship between working capital policy and component of cash conversion cycle. For the purpose of our study we used the sample of 37 listed companies in the OMX Stockholm stock exchange over the period of five years (2004-2008). The study has been conducted in a natural environment and it follows the explanatory research strategy.Moreover it is a quantitative study which follows the deductive approach and it is longitudinal in nature. We used GOP as a measure to pro fitability and CCC is used as a gauge to measure the aggressiveness of working capital policy. We used the secondary data, which has been extracted from the annual financial reports of the companies, to calculate the GOP, financial debt, firm size, fixed financial asset, component of CCC and CCC. In this study, six relapses were run on 185 observations in SPSS software program.In each regression analysis dependent variable (GOP), independent variable firm size, financial debt ratio, and fixed financial asset ratio remains the same but independent variable CCCS, CCCA, CCCD, days inventory held, days account receivable and days account payable replace each other. The reason for this replacement of independent variables is to find out that how CCC and component of CCC affects the GOP. The result of regression analysis shows that managers cant change the level of profitability by adopting any of the working capital policy i. e. there exist no relationship between working capital polic y and profitability.Furthermore profitability is directly associated with days inventory held and days account payable but it is in inverse relation with days account receivables. 2. 2. 2 Local studies Notably, student information system or sister incurs such application software designed for cultureal establishments to manage student data. Student information systems provide capabilities for entering student establish and other assessment scores, building student schedules, tracking student attendance as well as managing many other student-related data needs within the institution university.Thus, many of these systems applied in the Philippines can be scaled to different levels of activity and can be configured by their home institutions to meet local needs. Moreover, before universities have created their own bespoke student record systems, but with growing complexness in the business of bringing upal establishments, organizations now choose to buy customizable within the she lf software. It can be that, modern student information systems are usually server-based, with the application residing on central computer erver and are being accessed by client applications at various places within and even outside the school. During the year 1990s, student information systems have been changing and are fast adopted through the presence of a weave medium as a channel for accessing sister without any hassle upon viewing student details and information. Ideally, educational institutions are under constant pressure to demonstrate both willingness and capacity to incorporate the latest developments in student information systems along with communions technology supporting various teaching ways.As Liao et al. , (2007) asserts that SIS process within such technological sophistication does create precise knowledge edge, that such SIS application can be appealing to students and to the academic faculty as well as the parents. Thus, believing that technology is the rep ository of the bulk of the information that underpins societys major enterprises and concerns and the medium of communication through which SIS interact with one another.Furthermore, SIS is transforming educational tactics understandings and school practices in relation to system information and to be able to assist better communication ground through SIS execution, as found within the heart of acquirement mechanisms (Liao et al. , 2007). SIS as of today is changing what tribe is learning upon such as with the burgeoning of the Internet, the control exercised in the past by the Philippines from various departments of education and by individual teachers over pedagogical content may have diminished significantly.Through this new informatory medium, resources of varying quality and provenance on virtually diverse subject matter are now available to the students. The amount of material available from unaccredited sources is cause of considerable concern to many educators, brought up them into a more integrated student information system such as those found and applied in the University of the Philippines as well as those within the grounds of Ateneo Integrated school wherein SIS processes of were very understood and realized by the institutions education system.Even within academic disciplines there has already been a shift in the importance accorded to the traditional forms of published knowledge, refereed and refined through well accepted but often painfully attenuated process. In such cases there has been movement towards the more rapid electronic dissemination of findings and opinions albeit in a less polished form, depending more on the judgment of the individual contributor han on the processes of SIS effectiveness as implied for validation and verification of student resources (Fyffe and Walter, 2005) The strong implication for education is that skills in effective online searching should occupy more value and more important place within the educatio n curriculum at all levels wherein the adaptation of SIS is most valued for academe effectiveness.From the attitude of the individual student, SIS incorporates enormously increased potential for representing and manipulating information in range of structured education paradigms and strategic study forms as appropriate for a justifiable application of diverse learning styles. Furthermore, the student information systems do provides greater range of ways through which learners can express their knowledge, including the publication of multimedia presentations to the world at large through the Internet.Aside, some of the information system know-how needs that certain students must grapple with inclusion to discovering how to complete comprehensive reviews of the such research studies, learning how to evaluate sources within the scene of their projects, and properly citing and including these sources within their theses or dissertations (Perrett, 2004).Then, because the SIS process is typically completed early into students school course and encapsulates each of the facets of knowledge built up and literacy value, including learning what type of SIS is available, finding and accessing system sequence, evaluating tools for the information and then synthesizing the student information system into certain end product for a better course patterns as it seemed like the ideal project to focus SIS and relate it to ample literacy instruction around. magical spell the students had all performed database searches before, they were less likely to have taken advantage of the search management tools available to them through educational databases, how to set up automatic searches to help streamline the research process (Fyffe and Walter, 2005). Like for example, there discusses the benefits of using such bibliographic management software system in order to help illustrate more sophisticated ways of organizing their research.Before the students came to the workshop, they w ere asked them to fill out brief pre-assessment surveys designed to provide pleasurable profile details including their year in school, whether or not they were pursuing their college degree and possible departmental affiliation. Thus, pointing towards SIS within the knowledge of education services as utilized that include databases used and whether or not students were familiar with curriculum software packages (Perrett, 2004).Truly, it is crucial for the advancement of informative research within collected disciplines and the continued successful integration of SIS as applied in the Philippine reach with resources to higher(prenominal) education systems determining that certain group of students can acquire and gain effective knowledge literacy skills through the SIS process and understanding the value of education services crafted to provide best teachings as possible (Belle and Boote, 2004).Then, for SIS assumption, there is a need to engage students with academic assessment such as upon portion students start thinking about what they would like to learn with regards to a better research investigation and astute what the gaps in students understanding might be.Also, encourage the use of SIS in parallel to active learning style which allows students to interact with their classmates and does help the instructor facilitate an enhanced learning experience through SIS application mode and to finally emphasize the value of making student information connection with a subject teacher for instance geared upon for in-depth education success (Ewald, 2006). (2001) pointed out that the Philippines employed a fantastic strategy in carrying out the work in audiovisual (AV) archiving.In the absence of an operational AV archives in the country, most of the activities of institutions with AV archive holdings such as the Philippine Information Agency, the UP Film Center, the Cultural Center of the Philippines, Mowelfund, etc. , are informally being coordinated by a p rofessional body composed of archivists working in the different institutions mixed in archiving. It should be celebrated though that during the early 1980s, the Philippines had a national film archive that was fully operational in the real sense of the word.After the 1986 Edsa Revolution, the archive received the least priority and was transferred to the Censors Body. No archiving activity was carried out by this unit since then. The various tasks involved in AV archiving rested on the shoulders of related agencies, not by their own chose but by necessity required of their work. AV archiving activities were separately being undertaken. The turning point came when the Cultural Center of the Philippines, which wanted to organize a Lino Brocka Retrospective, discovered that many of the Brocka films, particularly those hat were significant, were already destroyed. Some of the surviving prints were brought to the Philippine Information Agency for restoration. With no former experienc e on cases of this nature, PIA had to turn to other agencies for materials that could be used as reference for the work. The UP Film Center, with its contacts with world(prenominal) organizations and as a recipient of several fellowship awards from UNESCO, provided PIA a copy of the International compact of Film Archives (FIAF) Manual.This was the first inter-institutional contact in the country that proved to be significant as it eventually led to a formal partnership among the archivists from these institutions in what was to become later as the smart set of Film Archivists (SOFIA). The Society of Film Archivists (SOFIA) was formally organized in July, 1993 out of need and in obligingness with the recommendation of the ASEAN Planning Workshop Meeting on Film Retrieval, Restoration and Archiving, which the Philippines organized in February, 1996.SOFIAs membership is made up of individual AV archivists working in cultural organizations, information agencies, send and academic i nstitutions, film production companies, and film critics. The role of SOFIA in the development of the AV archiving profession in the country is one that has been evolving over time. At the beginning, SOFIA served as a venue for exchanging knowledge and skills. As such, the kinds of projects undertaken during this arcdegree were mostly training programs.Later, SOFIA became an informal coordinating body for activities undertaken by the different institutions involved in archiving. These projects were implement by institutions as part of their in-house programs and according to what these institutions can do best. This enabled the different institutions to avoid duplication of efforts and thus saved on scarce national resources. Presently, SOFIAs role has evolved into that of a mobilize and an advocate for the setting up of a central body that would formally be recognized by the government and support by the public sector.The effectiveness of this model in the Philippines could be b etter appreciated in the mise en scene of the prevailing situation operating at the time SOFIA was born and the commitment of the members to pursue the work. Prevailing conditions that were considered important that helped bring about the results were the following a) a clear vision of what was needed. These involved knowing where we were, where we want to go and how to get there b) the emergence of a SteeringGroup at the initial stage. This role was expect by the Philippine Information Agency. Through its work requirement and involvement in ASEAN, PIA initiated projects on the national and regional levels that brought critical agencies together, identified local partners such as the Cultural Center of the Philippines, the UP Film Center, etc. , to assist in implementing the program, and identify succeeding steps to build on previous accomplishments c) empowerment of the identified partners.This involved getting the partners committed to assume the responsibility of carrying out t he work when the agencies involved in AV archiving decided to bond together through SOFIA and initiated and sustained programs and projects for AV archiving as a group or individually in coordination with each other, empowerment of the identified partners had set in and d) custom of advocacy techniques that were found effective.Apart from the traditional tools for promotion such as the media, SOFIA used techniques such as requesting the President of the Republic of the Philippines to issue an executive order declaring a week in a year as AV Archiving Week, among others. Organizing international conferences also helped generate interest on the issues. Chapter 3 Methods of Research oing this research is kind of like being a treasure-hunter, researching out clues here and there that finally leads to the treasure the needed to information. This chapter presents the different research methods, which will be use to design and develop the system. The nature of the research problem and the purpose of the study help determine the research methods to be used. It shows the different data gathering techniques to extension the research methods. 3. 1 Research MethodThe research methods that could be used in developing the Account Receivable and Dealer Information System may vary from one study to another because of the integration of hardware materials and programming skills. To achieve the desired and necessary output, research models and methods must carefully design. This helps conceive and very much analyze how the project will look like. In some aspects, combination of various methods could be made in order to grasp the purpose of the study. 3. 1. 1 Descripted Method