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Write Up to Barry - costs • Also by using Quickbooks a...

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BUS 391 January 25, 2011 CuttingEdge Knives Quickbooks Information Login: [email protected] Password: 1nformat1on Company’s website: www.cuttingedge-knives.com Our In-class company vendors: - HydroHealth - Time To Tea - Mustang Motors - BV Watches - Kelsey & Kelsey Our in-class company clients: - Time to Tea - HydroHealth - Coffee Break - Mustang Motors Part 5 : Creating Value/Reducing Cost Question
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Adapt an Enterprise Resource Planning (ERP) where we can integrate all departments through an IT system so that management and employees can record inventory and maintain relations with customers (reduce costs) Send emails every 6 months to survey and offer the knives sharpening service (increase value) By using the ERP, we can track clients’ record of purchasing items from our company to find products to fit their needs By using Quickbooks, Client Balance Detail report (and Vendor Balance Detail) would be beneficial because we track down which clients still owes us money and see if there are any outstanding charges hidden within our profit/loss report (reduce
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Unformatted text preview: costs) • Also by using Quickbooks, a profit/loss statement can tell us whether a product should be discontinued or not (reduce costs) • In addition, having a report that tells us which product is being bought the most would be beneficial because we can assure that product is being marketed sufficiently (reduce costs/increase value) Memo to Dr. Floyd: Please disregard the earlier transactions on our Quickbooks. We made a few mistakes when we first started using Quickbooks. The following clients have not “paid” us therefore there is no payment recorded on our activity log: Coffee Break, Bengston Stringham Family Farms, and Mustang Motors. Instead of starting off with $500,000, we actually started off with $700,000 in our banking account. If you have any questions in regards to the information above, please contact one of us. Thank you for your time!...
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