Just-in-Time Accounting: How to Decrease Costs and Increase Efficiency

By Steven M. Bragg | Go to book overview

Chapter 10
Data Collection
and Storage Systems

One of the most time-consuming aspects of the accounting function is the collection and storage of data. In this chapter, we will review some examples of traditional systems as background for the discussion of more advanced systems that can dramatically cut the time required for these functions.


TRADITIONAL DATA COLLECTION
AND STORAGE METHODS

In most accounting environments, the number one data collection area is payroll. One of the more tedious tasks for the payroll clerk is the accumulation of pay data from each person who is paid on an hourly basis. This information must be checked for accuracy, approved by a supervisor, summarized, and entered into the payroll calculation software so that it can be converted into paychecks. These data collection tasks occupy the bulk of the payroll clerk’s working time—the remaining tasks are minor in comparison. This is a particularly laborious and expensive task if the hourly work force is large. There is an

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Just-in-Time Accounting: How to Decrease Costs and Increase Efficiency
Table of contents

Table of contents

  • Title Page iii
  • Contents vii
  • About the Author ix
  • Preface xi
  • Free Online Resources xiii
  • Chapter 1 - Setting Up and Improving the Accounting Department 1
  • Chapter 2 - The Sales Cycle 25
  • Chapter 3 - Cash 69
  • Chapter 4 - Inventory 87
  • Chapter 5 - Accounts Payable 139
  • Chapter 6 - Cost Accounting 183
  • Chapter 7 - Payroll 211
  • Chapter 8 - The Budget 245
  • Chapter 9 - Closing the Books1 271
  • Chapter 10 - Data Collection and Storage Systems 297
  • Chapter 11 - Process Documentation 317
  • Chapter 12 - Change Management 337
  • Index 349
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