Account balances typical inputs to the accounts

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Introduction to Psychology: Gateways to Mind and Behavior
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Chapter 1 / Exercise 3
Introduction to Psychology: Gateways to Mind and Behavior
Coon/Mitterer
Expert Verified
Account balances Typical inputs to the accounts receivable subsystem include Sales invoices Credit memoranda Cash received from customers Typical outputs are: Monthly customer statements of account. Schedule of accounts receivable listing each account and its balance. The Accounts Payable Subsystem The accounts payable subsystem processes much of the same routine, repetitive information as the accounts receivable subsystem, except that the information is about the organisation’s creditors rather than customers. The accounts payable subsystem provides data directly to the general ledger subsystem and receives data from the purchase order subsystem. Typical inputs to the accounts payable subsystem include Purchase orders Adjustments (returns, credit memos) Typical outputs are: Cheques to creditors Schedule of accounts payable The Inventory Control Subsystem The inventory control subsystem provides input to the general ledger subsystem and receives input from the purchase order and the sales order subsystems. The basic purpose of the subsystem is to Keep track of inventory levels Keep track of inventory costs for the organisation The subsystem maintains information about each stock item, such as: Stock numbers Stock descriptions
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Introduction to Psychology: Gateways to Mind and Behavior
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Chapter 1 / Exercise 3
Introduction to Psychology: Gateways to Mind and Behavior
Coon/Mitterer
Expert Verified
MANAGEMENT INFORMATION SYSTEM Contact: 0707 737 890 Page 184 Receipts and issues of stock Stock balances The Purchase Order Processing Subsystem The purchase order processing subsystem processes purchase orders and tracks regarding: Which purchase orders have been filled. Which stock items ordered are on backorder. Which stock items have been damaged. Which stock items do not meet the specifications of the original order. When orders are expected to be received. The purchase order subsystem provides information to the accounts payable and inventory subsystems. The Payroll Subsystem The payroll subsystem processes wage and salary information, such as : Payments to employees Deductions from employee pay cheques Payments to state Other taxing agencies for taxes owed Operational-level financial accounting information systems are transaction-processing systems. They record and report the voluminous, routine, and repetitive transactions that mirror the day-today operations of an organisation. By computerizing these operational-level systems, organization often eliminate the drudgery of manually recording the endless detail needed in these systems. This usually reduces the costs of processing this work. TACTICAL ACCOUNTING AND FINANCIAL INFORMATION SYSTEM Tactical accounting and financial information systems support management decision making by providing managers with: Regular summary reports.

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