Kudler Foods Accounting System Paper

Kudler Foods Accounting system Paper

In today's world it is very important for a business to keep accurate books. The accounting system is at the heart of this. Almost every aspect of your business will need to access the accounting system at one point or another. Accounting systems continue to grow more complex with the tax laws changing every year and you need an accounting system that can accommodate these changes.

The best way to accomplish this is to upgrade to an accounting system that is going to work systematically and cohesively with the company's already functioning systems and their users. By using a modular accounting system, when a change or upgrade needs to be made you only need to update or change that that particular module like the General Ledger or Accounts Payable for instance as this would keep the overall upgrade cost down because you only pay for the module that you need. With a modular system each module tends to be more comprehensive and. newer technology has allowed for faster and more detailed reporting.

In today's business it is crucial to keep up with and adapt to the ever changing business trends and in order for a company to become a thriving business there are many systems that need to be taken into consideration. The cornerstone of today's businesses is the accounting system as it links to most if not all of a company's other systems. Currently if you were to get a list together of accounting systems in use worldwide today, it would probably contain hundreds, of different accounting systems and each system has its different mannerisms of how it works and in what capacity. When deciding which type of accounting system is going to best fit the business, there are several things that must be considered. The accounting system is a crucial part of the business operations systems.

The current accounting system(s) currently in use, while comprehensive are lacking some key features that could increase benefits and reduce losses. The accounting information system is used to gather financial data and provide information for internal and external decisions. These decisions include marketing, purchasing, payroll, investments, sales and account, both payable and receivable. The purpose of a new accounting information system is to take advantage of new key features and core technologies out there today that will help to keep the company agile in its additions and could incorporate and build on the existing system.

The key features for the newly purposed accounting information system include fully integrating the accounting systems with the rest of the enterprise systems, auditing software, budgeting software, integrated accounting and finance software, the use of XBRL (Extensible Business Reporting Language) for filing reports, ERP (Enterprise Resource Planning), SCM (Supply Chain Management), CPFR (Collaborative Planning, Forecasting and Replenishment), CRM (Customer Relationship Management), and KM (Knowledge Management).This would also include financial planning and budgeting, financial and economic forecasting, as well as integrated account and business software. Industry specific software could be used to further integrate the new system with the old."This makes public financial data submission for shareholders etc. a repeatable and highly manageable process, allowing you to produce valid XBRL reports as required based on the variable data stored in accounting system fields.

The enterprise resource planning (ERP) system for the new accounting information system is software that will create an infrastructure that will link the various areas of the enterprise system together to help facilitate internal applications and decisions as well as external business processes. The supply chain management systems oversee and manage the other steps in the supply chain, such as transportation, manufacturing, inventory, and scheduling. CPRF systems have the ability to predict ordering needs, forecast supply demands and coordinate with supply chain partners to help fulfill the business needs. CRM software will help to manage customer relations by creating custom views that display customers with similar needs grouped