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General Ledger / Budgeting / Bank Module

The document contains questions about the company's existing accounting, budgeting, bank reconciliation, reporting, project management, fixed assets, receivables, payables, and inventory systems and processes. It asks about the general ledger, closing books, bank and cash management, expense reporting, custom reporting, budgeting and forecasting, multi-company consolidation, fixed assets tracking and depreciation, sales order management, vendor and purchase order processing, inventory management, and system integration issues.

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Mohamed Sallamy
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54 views

General Ledger / Budgeting / Bank Module

The document contains questions about the company's existing accounting, budgeting, bank reconciliation, reporting, project management, fixed assets, receivables, payables, and inventory systems and processes. It asks about the general ledger, closing books, bank and cash management, expense reporting, custom reporting, budgeting and forecasting, multi-company consolidation, fixed assets tracking and depreciation, sales order management, vendor and purchase order processing, inventory management, and system integration issues.

Uploaded by

Mohamed Sallamy
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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General Ledger / Budgeting / Bank Module:

What is the Existing Accounting Application?


Do you have chart of Accounts Defined?
Issues faced in the existing system?
Level of Satisfaction of the present system

What is your process for closing your books?


Is accounting able to close the books on time? What is your year-end process?
Do you post adjusting entries once the year is closed?
Can you open and close fiscal periods?
Can you see historical information? Do you need to?
How do you manage payables or receivables? Does it impact your GL balances?
How do you reconcile control accounts (Ledger) with subsidiary ledgers?
How do you manage employees’ expenses?
How do you audit and review expense reports?
How do audit the books?

How many Banks, Accounts, Multicurrency accounts, Payroll accounts?


How do you reconcile bank transactions?
How do you research balances and transactions?
How do you manage reconciliation of accounts?

How much time does the finance department spend preparing reports to get information to
those that require it?
How do you view your cash flow? Can you drill down to the detail?
How do you view un-posted transactions?
How do you create customized reports?
How much time does it take to create customized reports?

Are expenses Amortized?


How do you manage deferral or recurring transactions?

How do you analysis of your data? Consolidated data?


Are you using multi currencies? How?
Do you have multiple companies? How do you support consolidation?
How do you monitor the reporting process from other units or sites or departments?
How do you communicate with sub sites?
How do you map data structures from your GL? Import data?
How do you generate your financial statements?
What are the financial statements reports do you have?
How often do reporting structures change? Do you need to consolidate and/or eliminate
based on changes? How do you do it today?
How do you manage cash flow?
Can you see your current cash position?
Can you see projected financials?
Can you get drill down and summary information?
How do you do forecasting and budgeting?
Can you see financial data from prior years?
How do you track and compare budgets?
How do you report on historical budgets and forecasts?
How do you generate financial reports?
Can you get history, detail and summary information?
How do you manage your general ledger?
How do you manage checkbooks?

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Do you have to make duplicate manual entry of journal entries?
How do you post transactions? Posting Procedures?
How do you make adjustments?

Do you have Different project?


How do you track P&L for projects?
Can you find out if margins are below target so corrective action can be taken?
How do you reconcile project budget, revenue, and cost?
Are you confident that all revenue is being collected?
How often are payments late? Is it because invoices are sent out late?
Are your current Project and Accounting Systems integrated? Do you feel confident in the
reports from these systems?

Fixed Assets Module:


Do you have any existing Application?
How do you manage fixed assets and depreciation?
Are you able to manage fixed assets and depreciation properly?
How do you depreciate your assets? What method of depreciation you are using?
How May books do you have for Depreciation?
Do you classify your assets?
Each class has separate account or all classes affect 1 control account?
Do you make projection before depreciation?

Receivable / Sales Module:


Do you have any existing Application?
How do you manage Sales?
How do you handle collections? How is it deposited in Banks?
How do you manage your customers?
Are you able to set credit limits?
How do you manage collections?
How do you keep track of when payments are due?
How do you keep track of quotations?
How you track special pricing and discounts?
How do you track orders – invoices – Back orders – Returns?
How do you manage tax tables?
How you calculate commissions?
Are you able to analyze sales data?
What kind of reports do you need?
How you age your customer balances? According to what (Aging Periods)?

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Payable / Purchasing Module:
Do you have any existing Application?
How do you manage Purchasing?
How do you set up and manage vendors?
Do you need to do a lot of re-entry of data between systems? Manually update the general
ledger?
How do you calculate tax amounts?
How do you process purchase orders?
How do you track discount schedules?
How do you track voids, returns and credit amounts?
How do you pay your vendors?
Do you have advanced payment?
Can you see detailed and summary vendors information?
How do you check the status of a purchase order?
What kind of reports do you need?
How you age your vendor balances? According to what (Aging Periods)?

Inventory Module:
How do you manage Inventory?
Can you group items together into lots/kits?
How do you update prices and make adjustments?
How do you manage tax transactions?
How do you update inventory?
How accurate is it?
How do you track orders?
How do you know when you are low on inventory?
Do you have different sites or Warehouses? Etc.
Do you have Serial No, Lot an etc?
Do you have items related to vendors?

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