HM 6

Applied Business Tools and Technology

MODULE 3
Select and Use Common Business Technology

LIBACAO COLLEGE OF SCIENCE AND TECHNOLOGY

Libacao, Aklan

Introduction:

For the learner:

Welcome to the HM 6- Applied Business Tools and Technology subject!
The Applied Business & Technology subject will primarily focus on a firm's ability to recognize, evaluate and
integrate business technologies in order to help small firms create value, solve contemporary issues, and
gain competitive advantage in what has become a tech-driven business environment.
Kindly consider the following in using this module.
1. Use with proper caring.
2. Read the instructions carefully before doing the task.
3. Observe honesty in answering given exercises and activities.
4. If you are done with this module, kindly submit to your instructor on or before the deadline.
For any questions/clarifications kindly approach to your assigned instructor.
We hope that through this module, you will be able to learn effectively.
LEARNING OBJECTIVES
Upon completion of this module, students are expected to:
1. Select appropriate business technology and/or software applications to achieve the requirements of
work task.
2. Demonstrated ability to use typical systems and procedures for the maintenance of common business
tools and technology.
CONTENT

Computer software for business

Types of business software
There are many different types of business software. Deciding which one is best for your business is not
always easy and will often depend on:
 the size of your business
 the particular needs of your business
 the tasks that need to be automated
Common types of business software
Common types of software used in business are:
 word processing programs
 accounts software

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  billing software
 payroll software
 database software
 asset management software
 desktop publishing programs
These usually come as bespoke products or off-the-shelf software.
Pros and cons of bespoke software
It is possible to build bespoke software specifically for your business. You can either:
 Write the software yourself. If you run a small business, writing the software yourself is unlikely to be
cost-effective as you need to have significant expertise and lots of time.
 Has the software written by an external supplier? With specialist help, you should get the exact
functionality you need. However, the price is likely to be high, and you will be tied to that supplier for
future support.
Producing any bespoke software can take a long time and your staff should be able to input in the
development process. For most small businesses, bespoke software may not be the best choice.
Pros and cons of packaged, off-the-shelf software
Packaged software is standardized and generally low priced in comparison to bespoke software. The
functionality may not be exactly what you need, but it could make sense to change your business practices to
suit the software rather than having software specially written.
The high volume of sales of such software usually means that you will be able to get support and training
from a number of different sources.
Standard software packages are usually the best choice for small businesses. In some cases, you can modify
the software to meet your requirements if it doesn't include all the functions you need.
Find more tips to help you choose software for your business.
Keep in mind that you will typically need a license to use commercial software. Read about the different  types
of software licenses for business.
Computer software for business
Types of software licenses for business
All software applications need a software license in order to run. A license describes terms and conditions
under which you can use and distribute software.
Common types of software licenses
Proprietary software is software developed by a supplier and made available for use under an  end-user
license agreement, which you effectively accept when you install the software.
There are three different types of proprietary software licenses:
1. Per device licenses are usually for one installation of the software on a server, computer, phone or
other device. This is the most common type of license for software. Some versions of this type of license
may require you to activate the software. This allows the supplier to check that the software is installed on
just one PC.
2. Per user licenses are common where more than one person can use the software simultaneously. The
license is usually for a specified maximum number of users.
3. Site licenses are much less restrictive. They typically allow as many users as you wish at one location.
Licensing also applies to open source software, but terms and conditions of use are generally more lenient -
see more on open source licensing and legal issues.
Software licensing and the law
The license sets out how you can use the software. It usually prohibits you from doing certain things, like:
 making copies and passing them on
 selling your license to someone else
Most proprietary software is copyrighted and comes without the source code, i.e. the code originally written
by the programmer. Without this code, neither you nor any other software supplier can make changes to the
software package.
When you buy proprietary software, you buy the right to use it in a specific way. The software company
retains ownership of the software.
Software piracy
Software licenses are often expensive. It may be tempting to buy just one license for a product and copy it for
several users. However, you and your business could face prosecution if you are discovered doing this.
Be wary of buying very cheap software or operating systems as they may well have been pirated by
criminals. Consider investing in software that monitors applications running on your system and builds up an
inventory for you. This is a good investment, partly for your own resource management and partly because it
helps you counter allegations of running unlicensed software.
Computer software for business
Advantages of open source software for business
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Open source software is made available under a license that allows you to modify, make copies and pass
the source code on to anyone. The software comes with its source code released - which you can change to
meet your needs.
Pros and cons of open source software
The advantages of open source software include:
 lower software licensing costs
 no supplier lock-in
 freedom to do what you want with the software
 open standards that support collaborative development
 freedom to upgrade software as it suits your business
The main disadvantages of open source software are:
 It may be difficult to get commercial-grade support with agreed response timescales.
 Some proprietary formats, such as Microsoft Word's '.doc' format, are so widely used that other
formats may be less acceptable for business.
 If the open source software is compatible with a particular proprietary format, they may be limited to
core features and not fully 100 per cent compatible. In many cases, this may still be sufficient.
Open source licenses
Licenses for open source software vary. Some require you to make any changes made to the source code
publicly available, while others will allow you to keep those changes private.
You should read the terms of the license carefully before using or changing the software. Find out more
about open source licensing and legal issues.
Open source software is usually available for free download or off-the-shelf at a low cost. See more on  open
source business software.
Computer software for business
Advantages and disadvantages of Software as a Service (SaaS)
Software as a Service, also known as SaaS or on-demand software, is a way of delivering software
applications to the end-user over the internet. SaaS can provide great advantages for most businesses,
primarily in costs and flexibility. However, disadvantages of SaaS (such as lack of control) are considerable
and should not be ignored.
What is Software as a Service (SaaS)?
SaaS is a software licensing and delivery model in which software is:
 licensed on a subscription basis - usually monthly or annually
 centrally hosted in the cloud - find out more about cloud computing
 accessed via a browser over an internet connection
SaaS is an alternative to the traditional on premise software installations. It has become a common method of
delivering many business applications, including:
 office and communication software
 payroll and accounting programs
 customer relationship management software
 HR management software
 enterprise resource planning programs
 corporate performance management suites
 mobile applications
SaaS advantages
SaaS offers many potential advantages over the traditional models of business software installation,
including:
 Lower up-front cost - SaaS is generally subscription-based and has no up-front license fees resulting
in lower initial costs. The SaaS provider manages the IT infrastructure that is running the software,
which brings down fees for hardware and software maintenance.
 Quick set up and deployment - SaaS application is already installed and configured in the cloud.
This minimizes common delays resulting from often lengthy traditional software deployment.
 Easy upgrades - The SaaS providers deal with hardware and software updates, deploying upgrades
centrally to the hosted applications and removing this workload and responsibility from you.
 Accessibility - All you need to access a SaaS application is a browser and an internet connection.
This is generally available on a wide range of devices and from anywhere in the world, making SaaS
more accessible than the traditional business software installation.
 Scalability - SaaS providers generally offer many subscription options and flexibility to change
subscriptions as and when needed, e.g. when your business grows, or more users need to access the
service.

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SaaS, and more widely cloud computing, can help you make the most of a limited IT budget while giving you
access to the latest technology and professional support. However, you should consider some potential
disadvantages before making a final decision.
Disadvantages of SaaS
SaaS model sometimes has certain shortcomings, including:
 Lack of control - in-house software application gives businesses a higher degree of control than
hosted solutions where control resides with a third party. Typically, everyone has to use the latest
version of the software application and cannot defer upgrades or changes in the features.
 Security and data concerns - access management and the privacy of sensitive information is a major
consideration around cloud and hosted services.
 Limited range of applications - while SaaS is becoming more popular, there are still many
applications that don't offer a hosted platform.
 Connectivity requirement - since the SaaS model is based on web delivery, if your internet service
fails, you will lose access to your software or data
 Performance - SaaS may run at somewhat slower speeds than on premise client or server
applications, so it's worth keeping performance in mind your software isn't hosted on a local machine.
How to choose software for your business?
If you are thinking about investing in software, it's important to consider a few key points that can help you
choose the right solution for your business.
You should not only review your current business requirements, but also keep in mind what your business will
need in the future. Consider how software can help your business to adapt to the changes and grow.
Before making any purchases, it is generally a good idea to carry out a technology needs assessment. If you
haven't already, you may also want to develop an IT strategy. Both the strategy and the needs assessment
will help inform your choices when it comes to new business software.
Document your business processes
Diagrams can make documenting your business processes easier - for example, using boxes for processes
and arrows to show documents, invoices etc. move between them.
Documenting your business in this way will help you:
 identify areas where new software could improve your business processes
 explain your business and its requirements to potential suppliers when buying software
Shortlist software solutions
Compare your list of requirements with the information that you have about each package. Reject all
packages that cannot meet your 'must have' requirements. From the rest, select the one that delivers the
greatest number of your advantageous and 'nice to have' features at a price your business can afford.
Additional costs
As well as the price of software, you should also consider support costs, future upgrade costs and the need
for hardware upgrades to use your software to full effect.
Future suitability
You should also try to determine if this software would still be suitable as your business evolves. For
example, the system should be able to handle an increased workload should your customer base grow.
Licensing
Make sure you buy licensed software and keep safe your proof of ownership, such as the original distribution
CDs or hologram med certificate of authenticity. See more on different types of software licenses for
business.
Get help with assessing your software requirements
There are many ways to get advice and support when choosing software, including:
 professional and trade associations
 software or business consultants
 software vendors - but keep in mind these might not give unbiased advice
 the computer press - magazines like Computer Weekly and Computing can be a good way to get
information on the basic issues, so you know the right questions to ask
Software installation and maintenance
Once you choose the right software solution, you will have to integrate it into your business. This includes
installing the software into your existing systems, carrying out regular maintenance and finding support for
your software when you need it.
Types of software installation
In the past, most off-the-shelf software came on CDs or DVDs. Many types of software are now available to
buy and download online, and are simple to install.
You can install software on individual machines or on network servers - this is common in situations where
several employees and applications share the software.

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For businesses with more than ten desktop PCs, it is often better to set them up with a common set of
software. This makes it easier to update and check that software is properly licensed.
You may need to activate certain types of software after installation, often online or by phone. If you change
the hardware details of the PC, you may need to re-activate the software.
If you don't want to install software on your PCs or servers, you can opt for software as a service
solutions and gain access to software applications entirely over the internet.
Software upgrades
Software upgrades are generally needed to ensure that your software continues to perform properly and
security. Software upgrades may become available because:
 new or improved functionality is added to the software
 current software has become incompatible with other, newer programs
 security 'fixes' or 'patches' are needed to address 'bugs' discovered in the software
You can usually access upgrades online. It is important to install them and keep systems software fully up to
date. Otherwise, your systems may be vulnerable to newly discovered security flaws.
If you're using software stored in the cloud, your service provider will manage your upgrades.
Software support
An important factor in choosing software is the availability of technical support. When assessing support, you
should consider:
 Location - Time difference can affect availability during particular times. Some providers may offer
online or email support, or real-time messaging.
 Price - You may get a period of free technical support when you install your software. However,
software support is usually charged for after a certain period of time or after a certain number of
queries. Check the cost carefully, especially if the support is on a long distance or premium-rate phone
line.
 Response times - If your business depends on your software, fixing problems quickly may be vital.
Always read the small print of your maintenance contract.
Some suppliers may stop offering support for older versions of software which can make it difficult to keep
software secure.
Look around for the best deal, but make sure that the supplier you choose can deliver on its promises.
Using technology to boost our profits - Northside Graphics (video)
Northside Graphics started in 1988 as a traditional 'bricks and mortar' printing company. Today, they are at
the forefront of digital printing.
Business sales increased after moving their services online. Orders came flooding in through the new e-
commerce website and Northside Graphics soon found itself facing a new challenge - coping with an
increased demand from customers. In order to manage and take advantage of the surge in orders, the
company had to find ways in which to automate.
In this case study, Managing Director Gary White explains how Northside Graphics used software to
automate their workflow and production processes. He shares the highs and lows of this journey, and
describes how automation allowed them to improve efficiencies, maximize sales opportunities and increase
revenue.
Software Applications may include:
A.Word processing packages
Word processing software is used to manipulate text and apply a basic design to your pages.
Working with Text
Multimedia files, such as digital imagery and video, have become increasingly popular in today's business
world, but the written word remains as important as ever. Just think about the nature of the documents being
produced and circulated within any organization. Some examples include:
 A marketing plan to promote a new product.
 A memo from senior management regarding corporate strategy.
 A new benefits policy developed by human resources.
Most of these documents are produced using word processing software.
Word Processing
Word processing software is used to manipulate a text document, such as a resume or a report. You typically
enter text by typing, and the software provides tools for copying, deleting and various types of formatting.
Some of the functions of word processing software include:
 Creating, editing, saving and printing documents.
 Copying, pasting, moving and deleting text within a document.
 Formatting text, such as font type, bolding, underlining or italicizing.
 Creating and editing tables.
 Inserting elements from other software, such as illustrations or photographs.
 Correcting spelling and grammar.
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Word processing includes a number of tools to format your pages. For example, you can organize your text
into columns, add page numbers, insert illustrations, etc. However, word processing does not give you
complete control over the look and feel of your document. When design becomes important, you may need to
use desktop publishing software to give you more control over the layout of your pages.

B.Spreadsheet packages
What Is the Purpose of Using a Spreadsheet?
Spreadsheets are an essential business and accounting tool. They can vary in complexity and can be used
for various reasons, but their primary purpose is to organize and categorize data into a logical format. Once
this data is entered into the spreadsheet, you can use it to help organize and grow your business.
Business Data Storage
A spreadsheet is an easy way to store all different kinds of data. These data types can include financial
data, customer data and product data. Excel spreadsheets can support more than a million rows and more
than 16,000 columns, so you’ll have plenty of space to store a huge amount. That’s what makes them ideal
for database creation.
Accounting and Calculation Uses
Businesses across the world use spreadsheets to keep track of their business accounts. You can enter
formulas that will do all of your business calculations as you go without the expense of using accounting
software. Spreadsheets will do all the calculations for you, which saves you having to do those calculations
manually.
Budgeting and Spending Help
Keep track of your business spending on a spreadsheet. You can create custom budget spreadsheets to
manage your income and your expenditures so you don’t end up with any surprises when it’s time to file
your tax return.
Assisting with Data Exports
Spreadsheets can be used to contain data that has been exported from other systems. Sometimes online
data management systems don’t present data in a format that is easy to read, or it is difficult to access the
data offline.
Data Sifting and Cleanup
Use your spreadsheets to identify inaccuracies and duplicates in your data. With a spreadsheet, it’s easy to
get rid of unwanted or low quality data. This is especially necessary in relation to customer data, which you
are required to keep up to date and accurate.
Generating Reports and Charts
Use spreadsheets to report trends or make business forecasts. These reports can be made available to
everyone at the company; they can take the time to analyze the data for themselves. It’s easy to make
comparisons between sets of data. You can pivot tables to showcase particular aspects of your data as
well, which is necessary when you’ve got huge amounts of data to sort through.
Data in a spreadsheet can be used to create charts that can then be used for reporting. You can create
graphs and pie charts that condense the data in a format that’s easy to read at a glance. It’s a fantastic
feature that can be great for business presentations that require you to showcase lots of data in a short
time.
Business Administrative Tasks
Use spreadsheets for the creation of receipts and invoices. You can also use it to do business related
forecasts and plan ahead for the future.
These are some of the common purposes spreadsheets are used for, but there are additional ways you can
utilize a spreadsheet to achieve your business goals. Configure them to your needs, and tap into all the
ways you can use this simple yet effective tool.
C.Accounting packages
Accounting software helps you record the flow of your company's money and examine your financial
condition.
 Accounting software helps you track and organize your financial data, giving you an accurate, real-
time look at your business's finances.
 Features like the bank feed and automatic invoicing save you time by automating tedious accounting
tasks.
 Some accounting systems have advanced features or add-ons like payroll, shipping inventory and
project management that can streamline other aspects of your business. 
What is accounting software?
Accounting software is a tool to help you record the flow of your company's money and examine your
financial condition. With it, you can record transactions, generate reports, manage customer and vendor
contacts, create purchase orders, track stock levels, bill customers, and monitor account balances. 
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"Using an accounting package will help organize your records and 'force' you into a systematic structure,"
Ken Stalcup, senior director with Houlihan Valuation Advisors, told business.com. "That will put the
company's finances into a system that can report the financial results and help when it comes to tax time."
Why use accounting software?
Using accounting software can save your company time and prevent errors.
"The main benefit of using modern accounting software is efficiency," said Fabien Dawidowicz, CFO
of Spendesk. "Instead of copying and pasting data from spreadsheet to spreadsheet, you have all your
transaction information in one place. You can easily see what's been spent or what's come into the business,
and you always know where to find this information." 
Rather than manually inputting data and transactions, you can use the bank feed feature to connect the
software to your business bank and credit card accounts. With this in place, you have a daily update of your
transactions. Most accounting applications have a dashboard that gives you a real-time look at your most
important metrics. 
The software can create a variety of reports and financial statements, including profit and loss statements
and balance sheets, which are necessary for requesting funding from an investor. You can also compare
transaction activity or statements from prior months and years to your current ones, which can help you
analyze your business's growth, sales trends and other key metrics that you need to make informed business
decisions as you prepare for the future. 
You can use the accounting software to categorize expenses and schedule and pay bills, whether you pay
online, by check, by credit card or with cash. This will help you keep track of those transactions and manage
your cash flow. 
You can also use the software to record the payments you receive in cash or by check, and create and send
invoices and past-due notifications. 
Accounting software automates many tedious and repetitive accounting tasks, which increases the accuracy
of your data and keeps your bookkeeping efficient. If you use cloud accounting software, you can do your
accounting anywhere there's a signal.
What are the benefits of accounting software?
Like most digital tools, accounting software allows you to automate tasks and enter data faster. In addition to
the decrease in errors, it increases collaboration between different departments by keeping all your financial
information in one space. 
Besides keeping your finances organized, online accounting tools keep you compliant with local, state
and federal tax laws, which helps you avoid trouble with the IRS. 
Also, accounting software companies continue to make their applications more user-friendly, which means
(depending on the size of your business) it may eliminate the need to outsource bookkeeping, saving you
money.
What are the features of accounting software?
Now that you're familiar with what accounting software is and why you should use it, it's important to know
which tools and features to look for when choosing a system. Nearly all online accounting software uses
double-entry accounting to ensure accuracy and have accounts receivable, accounts payable, banking and
reporting features. Some also include inventory management, project management, time tracking and payroll
tools, though these features are usually in higher-tier plans or add-ons that cost extra. Here are some core
elements of accounting software.
1. Accounts receivable
Accounting software systems should be able to handle billing, keeping track of what customers owe
(accounts receivable, or A/R) and their payments. Here are some of the main A/R features to look for. 
Invoice processing
At the very least, accounting software should be able to handle invoicing. When money is owed to you, you
need to know from whom, how much and when to expect payment. All accounting systems allow you to print
invoices, with most letting you email them. Your system should remember basic customer data, such as
names, addresses, account numbers and standard terms. Most of today's software systems also remember
your standard pricing for a wide variety of products and services. 
Automatic invoicing
This ensures revenue is never delayed because you've forgotten to send out an invoice. In addition, with
automated statements and late reminders, the accounting software acts as your collection department,
reminding customers to pay their bills. 
Payment processing
Many accounting systems allow your customers to pay their invoices online by clicking a button on the
electronic invoice you send them. The advantages for the vendor are many, including less staff time devoted
to processing checks or making bank deposits, greater security for payments, and faster processing times.
However, there are costs involved. Expect to pay rates similar to those of credit card processing
companies to have your accounting system handle debit and credit card payments. 
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Some systems allow ACH payments to be directly deposited into your checking account, and there's nothing
quite like payments pouring into your checking account automatically every month without you waiting for
checks in the mail or running to the bank. Although there's often a fee for this as well, it's usually less
expensive than accepting card payments.

2. Accounts payable
Nobody likes paying bills, but keeping track of what you owe is essential for any business. The way your
accounting system handles the outflow side of your funds can vary. Here are some of the most useful
accounts payable (A/P) features. 
Purchase orders
Handling your purchases and what you owe is one of the main tasks for accounting software, but how it
functions can vary, from producing simple purchase orders to following quotes all the way through to
purchase and payment. 
Vendor credit memos
It's easy for a business to lose track of all those credits vendors often hand out, either as rewards or returns.
However, credit memos are as valuable as cash, so a system that can track them helps keep costs down. 
Automatic payment
From scheduling bank payments and direct deposits to printing checks, many A/P modules can completely
automate your payment processes, ensuring you don't fall behind. 
IRS tax forms
Having a database of the most common tax forms, such as the 1099 and 1096, can save you a lot of time.
This is especially true if your accounting system can input all the necessary data on the forms for you and file
them electronically with the IRS. Electronic payment of taxes and filing of forms can keep you from being
penalized for late payments. 
3. Payroll
Payroll modules are extremely sophisticated in some accounting systems, offering full payroll services that do
everything from calculating hours and processing wages to paying payroll taxes and making 401(k)
deductions. Here are some of the best payroll features for accounting software. 
Variable wage schedules
Whether your employees are salaried or paid by the hour, a system that can accurately calculate what you
owe them is essential. Problems arise when you have many intermittent workers or part-time staff. Some
employees may be paid monthly, others weekly or biweekly, or as needed. Your software should be able to
handle different pay schedules along with different types of compensation (commissions, salaries, profit
sharing, bonuses, etc.) and benefits (health insurance, retirement plans and even perks like paid parking). 
Direct deposit
This is essential for accounting software to support these days, as most people expect their paychecks to be
deposited directly into their bank accounts. Decent accounting software should allow you to set up scheduled
direct deposit payments. 
Automatic tax calculations
This ranges from handling only the basic deductions to providing sophisticated tax tables and printing
relevant forms. Find out if the system supports new-hire reporting, expense tracking, W-4s and W-9s. Does it
handle monthly federal tax deposits and quarterly federal tax reports, such as Form 941? Does it take care of
annual reports and returns, such as the W-2, W-3, Form 940 and 1099? Will it do state tax returns for income
taxes and unemployment insurance? Can it handle workers' compensation insurance calculations and
payments?  
Expense reimbursements and deductions
If your employees incur tax-deductible expenses, such as travel and entertainment expenses, you'll want a
system that can accommodate these reimbursements and ensure that payments comply with tax deadlines.
4. Banking
At the very least, accounting software should have some form of a link to your bank account, enabling you to
make direct payments and import real-time data from the bank into the accounting system. Some software
can go much further. 
Account reconciliation
If you have more than one bank account, software that can keep track of them all and reconcile them is
essential. Make sure your program includes a general ledger function and checkbook reconciliation. 
Bank deposit prep
These days, an accounting package that can't handle the setup of basic electronic deposits is unheard of, but
you should check on what type of electronic payments it can handle. 
Check handling
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If you make a lot of payments by check, then a system that can print and process your checks will save you a
lot of time. Look out for other features too, such as check voiding and notification of duplicate check payment.
What reporting options does accounting software offer?
Besides the array of features available in accounting software, the quality and quantity of reports the system
can generate differ widely. Some systems offer a vast range of reporting options with virtually unlimited
categories. Others just offer the basic reports: money in and money out. Here are some of the better options. 
Standard reports
The accounting system should be able to generate the customary reports used in business, including income
statements (profit and loss), balance sheets (assets and liabilities), statements of cash flow, accounts
receivable, accounts payable and payroll summary. 
Customizable reports
A system that enables customizable reporting options allows you to create and compile any report of your
choosing. Look for a system that lets you easily add or remove columns in standard reports, resize column
widths, and remember custom reports so that it can duplicate them in the future. 
Graph summaries
Long lists of numbers can be difficult to interpret, so software that can translate data into pictorial forms such
as pie and bar charts can help you make sense of where your money is going. Look for color-coding
capabilities and the ability to display previous years on the same graph for easy comparison. 
Cost predictions
Reports are all well and good for helping you identify trends, but a system that can interpret data, make
statistical analyses and produce forecasts can help you make financial decisions based on facts, not
guesswork. Look for systems that include budgeting, estimating and other cost functions. 
Subsidiary reporting
If you have multiple businesses, a system that can amalgamate certain financial aspects can give you a
better perspective of your entire portfolio, rather than making you estimate from individual reports.
What are advanced accounting software features?
Online accounting software can handle processes well beyond the scope of financial management, providing
a single platform to control nearly all aspects of your business. Look out for the following advanced features if
you think they'll assist you in running your organization. 
Shipping
For online retailers and businesses that frequently send goods by couriers or clients, an accounting platform
that can handle shipping processes will save you the investment of a separate shipment software program.
Here are some of the features you should look for: 
 Shipping label printing: This can save you a lot of time and streamline the shipping process by
producing labels along with orders or invoices. 
 Shipping cost estimation: Some systems can be set up to understand differences in weight and
distance to provide accurate shipping cost estimates. This ensures that you include such costs in your
billings and pricing. 
 Shipment tracking: A link to a courier's tracking system ensures that you can monitor what has been
shipped and estimate delivery times more accurately, providing better service to your customers. 
 Drop shipments: If you need to send a product to a customer directly from a supplier or
manufacturer, it can wreak havoc with your billing unless your accounting platform can handle drop
shipments. 
Inventory management
An accounting system with stock and inventory management controls can really streamline your business,
helping you identify what you have in stock, what you need to reorder and where you're spending your
purchasing budget. 
 Inventory tracking: Following the lifecycle of an item – from purchasing to stocking to sales, all the
way to shipping – is a great asset to help you track inventory levels. 
 Set inventory levels: You can ensure you don't over- or under-order certain products by using
automatic ordering to guarantee stock within a specified range. This saves you the hassle of not
having items in stock when you need them or a glut of products that just won't move. 
 Specified stock locations: For large distribution hubs, having stock locations included on orders
avoids the need for an additional warehouse management system, which helps streamline business
functions. 
 Item images: The inclusion of item images is also advantageous for distributors, as it allows all
individuals involved in the process to identify products visually and ensure that the correct items are
being shipped.
How does accounting software monitor time and job management?
Most organizations need to monitor attendance and time spent on specific tasks. Time and attendance
modules can be very helpful additions to accounting systems. Look for these capabilities. 
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  Time tracking: If you pay staff by the hour or require employees to punch in at a certain time, keeping
track of attendance and hours is essential for accurate payroll. To ensure accurate timekeeping, this is
usually done with a time clock. These time clocks can be compatible with electronic swipe cards,
barcodes, PINs or even fingerprints, and some systems allow users to clock in from a web browser or
an app. 
 Job tracking: Businesses in service-based industries often need to track how long jobs take to make
sure they charge the right amount. This type of time tracking can help you make adjustments in future
prices and identify trends in the costs of different jobs. 
 Job status: If your software shows you which jobs are being worked on and which are inactive, you
can keep track of what needs doing and when. 
 Estimates: For some service businesses, providing an estimate is essential to procuring the job – and
maybe to getting paid. A system that can store estimates and turn them into orders and invoices in just
a few clicks promotes efficiency.
D.Data base packages
What is data base package?
A database is an organized collection of data, generally stored and accessed electronically from a computer
system. ... The database management system (DBMS) is the software that interacts with end users,
applications, and the database itself to capture and analyze the data.
Database Uses in Business
Small businesses run on databases. These repositories of organized information can store virtually every
kind of data imaginable, and they can sort that information and deliver it to you with a click of a mouse.
Business databases help small-business owners organize and track their customers, inventory and
employees.
Customer Relationship Management
A customer relationship management (CRM) database can help a small business manage the lifeblood of
its business – its customers. A CRM database organizes all the information a company has about its
accounts, contacts, leads and opportunities. A single customer's record may include his contact details, the
date and amount of his last order, the total amount of his purchases for the last year, a list of his favorite
products and the products he returned, details of customer service calls and more. Databases can also be
used to manage marketing and promotions, to export email addresses and to prepare shipping labels.
Inventory Tracking Database
An inventory tracking database can tell a retail business how much inventory is in a warehouse, in a
storage room and on store shelves. Integrated bar codes and scanners form a complete tracking system,
monitoring products as they move from one place to another and updating the database so you never need
to count the inventory in a warehouse. A database can also alert you when products and supplies are
running short so you can order more before you run out of an essential item.

Payroll and Scheduling Database

Using a database to manage employee information can simplify scheduling and help prevent payroll errors.
An employee database contains such fields as hourly wage, salary or commission, tax withholding rates,
year-to-date income and accrued vacation time. Other employee benefits, such as health insurance and
retirement account contributions, can also be recorded in a database. Two or more databases can be
linked to each other to create an association between a sales representative in the personnel database and
the accounts she is responsible for in the CRM database.
Business Data Analysis
The robust reporting features of databases make them useful resources for analyzing data and predicting
future trends. For example, a productivity report might show that productivity slows so much on the Friday
afternoons before a three-day holiday weekend that you may as well just let the staff go early on those
days. A sales promotion effectiveness report might show that sales of certain products increased after an
email promotion while sales of other products increased after an in-store promotion. Customer behavior is
predictable, and a database can help you anticipate and fulfill your customers' needs.
E.Presentation packages
What is a presentation package?
In computing, a presentation program (also called presentation software) is a software package used to
display information in the form of a slide show. It has three major functions: an editor that allows text to be
inserted and formatted. a method for inserting and manipulating graphic images
What does Presentation Software mean?
Presentation software is a category of application software that is specifically designed to allow users to
create a presentation of ideas by stringing together text, images and audio/video. The presentation tells a
story or supports speech or the presentation of information.
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Presentation software can be divided into business presentation software and general multimedia authoring
software, but most presentation software applications already provide tools that allow users to create both
professional-looking business presentations and general multimedia presentations.
Presentation software is also known as a presentation program.
Techopedia explains Presentation Software
Presentation software is generally used for creating slideshows that display information. The software has
three main components:
 Text editor for inputting and formatting text
 Facility for inserting graphics and other multimedia files
 Slideshow system for displaying the content
Before the advent of presentation software, presenters commonly used an easel to hold posters that
contained illustrations to support the report or a slide projector to display graphics printed on a transparent
plastic film. These methods were inflexible; for example, changing small things in the printed materials used
could result in mismatched graphics or illustrations, sometimes requiring redoing the entire thing. With
presentation software, not only authoring but also correcting illustrations can be done easily.
Microsoft's PowerPoint and Apple's Keynote are two of the best-known commercial presentation software
applications in the market.
F.Internet browser
What is internet browser?
-A web browser is the software you use to access websites. You're probably using one to read this. Most
computers come with a web browser ready to go, and it's common for people to just use that.
-A web browser is the software you use to access websites. You're probably using one to read this. Most
computers come with a web browser ready to go, and it's common for people to just use that.
The importance of browsers for business
Organizations have traditionally devoted minimum attention to Web browsers on users’ PCs, but IT
departments are finding they need to change that hands-off strategy.
In the past two years, a variety of factors have made browsers a much more important piece of business
software for IT to deal with. One consideration has been the rising popularity of cloud computing in the
enterprise, which has led CIOs to green-light the adoption of Web-hosted applications of various types such
as office productivity, collaboration and CRM. In addition, on premise enterprise applications, whether in-
house or commercial products, increasingly favor browsers as their front-end components.
Last but not least is the rising range of viable Web browsers. Microsoft’s Internet Explorer for a long time was
the only browser option, but today there are significant user bases for Firefox. Forrester Research reports IE
holds 78 per cent of the installed base, Firefox 18 per cent, Chrome 2 per cent, Safari 1.4 per cent, and
Opera 0.2 per cent. Even within the IE family, fundamental changes in IE8 mean IT should treat it as a
separate browser.
The greater dependence on a greater stable of browsers, not to mention their numerous versions and plug-
ins, complicates the environment that IT must manage, with greater impact on the business when
compatibility or other issues arise.
An enterprise app
“Enterprises need to think about the browser as a productivity tool, not as a transparent application. They
need to look at browsers more strategically,” Forrester analyst, Sheri McLeish, claimed. “The browser is one
of the most important pieces of software we have right now,” the Unix/ Linux system administrator at US-
based Brigham Oil and Gas, Andy Armagost.
The browser is the front-end to various applications, including Yahoo’s Zimbra Collaboration Suite, which is
the company’s main email and collaboration platform.
The company’s browser of choice is Firefox 3 because the IT department believes it offers better
performance and is more secure than IE and previous Firefox versions. Thus, Brigham Oil and Gas designed
several of its in-house applications specifically for Firefox.
Still, the IT department keeps an eye on the other browsers. It has to track and support IE, which is the only
browser option for certain sites and Web applications that use Microsoft’s ActiveX technology.
And it tracks Google’s Chrome; though still young, Chrome promises interesting improvements in
performance and other areas, Armagost said.
Rule of thumb
But Brigham Oil and Gas’ hands-on approach is the exception rather than the rule. A recent Forrester
Research study found that 60 per cent of enterprises are still using IE6, an “old” browser.
These hands-off enterprises are depriving their users from the security, performance and functionality
enhancements that newer browsers like IE7, IE8, Firefox 3, Chrome and Safari 4 can offer, Forrester’s
McLeish said.
That IE6 is by far the most widely used browser among enterprises reflects most IT departments’ lack of
interest in browsers. However, this laissez-faire approach toward browsers wouldn’t last long, he said. “The
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rise of software-as-a-service [SaaS] will force enterprises to at least come up with a browser strategy for their
workforce,” McLeish said. Keeping up with the latest about browsers, their different versions, and their plug-
ins is getting harder, not easier.
“You certainly have fragmentation and confusion in browsers today because you have a lot of innovation
coming from the major browser companies,” founder of Research 2.0, Kris Tuttle, said. The research
company specializes in emerging technologies and investment.
But standardizing on one isn’t the answer to the diversity challenge. Even for a small organization like
Research 2.0, Tuttle has found the need for all team members to use several different browsers for the
various Web applications the company uses. Research 2.0’s preferred browser is Firefox, which it uses for
Google Apps and Gmail, the company’s primary email system.
Developer challenge
The new multi browser reality is also a challenge for developers, particularly if they create public-facing
websites or commercial Web applications. For example, Zoho, which sells a Web-hosted suite of
communication and collaboration software for SMBs, has had to increase the time and resources it spends
tweaking and supporting its applications for different browsers.
“It’s a constant effort and it’s not insignificant,” the company’s product evangelist, Raju Vegesna, said. “We
need to make sure our applications work perfectly not only with the different browsers and their different
versions, but also with their plug-ins.” A scan of known issues of Google applications shows how far-ranging
the problem is. The posts reveal that when a Web application malfunctions, IT administrators and commercial
developers have to do detective work to find out why a particular browser is misbehaving.
The issue of browser variety is also very much on the radar at messaging vendor, Zimbra, which stays in
close contact with the browser vendors, its director of engineering, Kevin Henrikson, said. Zimbra handles the
challenge by having its software detect the absence or presence of certain features in users’ browsers,
something Henrikson called “feature sniffing”.
The company has created a database of browser capabilities and uses that to design software that can
adjust its operations based on what is and is not available in any particular browser, without tying code
modifications to a specific browser brand or version, he said.
WORK TASK
Business Technology Analyst Responsibilities and Duties
 Provide expert Business Technology guidance to end users.
 Manage new enhancement requests and maintain records and test results.
 Manage all types of business technology projects, monitor applications and provide analytical solutions
to resolve technical
issues.
 Research for any process improvements, develop and manage initiatives to improve processes.
 Prepare and maintain all the process documents related to business.
 Supervise changes and improvements implemented on Business Technology Applications.
 Collect research data, perform business studies and make recommendations if required.
 Provide system configuration and application upgrade support.
 Prepare test cases, business use cases and participate in the testing process to evaluate the
technology solutions.
 Coordinate with IT community to develop functional requirements, technical specifications and high
level designs.
 Communicate with business users in order to interpret requirements for IT groups.
 Analyze and develop plans to improve the quality of the deliverables and processes.
 Maintain system and data integrity during change control and management processes.
 Prepare and present reports to managers, update training material and guides when required.
 Coordinate with different development teams to develop functional designs that satisfy the user
requirements.
A.Processing reservations
Reservation is a complete process of booking that is conducted by to parties i.e. one guest or customer and
next one is hotel reservation section
12 steps to select the right Online Booking System for your business
Why do I need an Online Booking System?
I could spend half of this blog quoting statistics that would convince you need an Online Booking System.
One of the key reason you need a booking system for your tourism business is that consumer behavior
indicates that if you don’t have a booking system where travelers can check availability, price and book on
their own terms, you will lose business.
Let me put it another way. If you have invested in building a great website, developed great content, imagery
and video and you’ve managed to get your site ranking high by effective SEO, why on earth would you risk

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losing business by not offering online booking capability?   Surprisingly, many businesses do and I think I
know a few of the reasons why.
6 reasons why tourism businesses may not use a booking system
 Management is still not convinced that “their” customers use online bookings
 The business simply hasn’t had the time to get it done
 Owners are apprehensive about using a new technology (it’s not that new! I would consider it ‘old’)
especially when it involves financial transactions
 Businesses are overwhelmed by the number of options available and which one is for them
 The owners have been put off by overzealous sales agents
 Finally, management is convinced that if someone really wants their service they will call or email
If you fit in one of these categories, then this blog article is for you!
You have two options when it comes to choosing and implementing a booking system for your tourism
business: you can do it yourself or outsource to a professional.
Like most things it’s easier but more expensive to outsource and the Tribe can assist but. However,
If you want or need to do it yourself here are some tips!
 Assign some time to get this done, set a goal and deadline
 Price: online booking capability will cost you money, but so does manually handling bookings
 Add all the things you want the system to do to a list
 Try and try again, you’re not committed to an existing system for life, if it isn’t working change
 Have a plan
 Your responsibility – yes it’s yours
The biggest threat to success is APATHY 
Here are my simple steps to success
1. Write down a list of all the things you need your booking system to do
2. Record where your bookings are coming from and what they are costing you in terms of fees and
commissions
3. Do your own research, look at competitor’s websites, play consumer and see how easy it is to book
using a particular system
4. Talk to your local Visitor Information Centre, Regional Tourism Organization and State Tourism
Organization, find our if they have any alliances or policies that might impact your decision
5. Read the articles about online distribution
6. Conduct the process like a new employee, shortlist your tourism booking systems to 3 and then do
more research, call an operator whose using it and ask them what they think
7. Check out the support provided by the booking system, is it all online, do they have a help desk, do
their times suit you?
8. Take the plunge, make a decision on a Booking System and set a deadline
9. Set the changeover from manual to online bookings at an “off peak season” to minimize the stress on
you!
10. If you are nervous, move one room or tour to online bookings and test the system and your market, but
remember to put a note on your website that there may be other rooms available if they call.
11. Carefully read the contract you sign with a vendor and don’t sign a “forever contract”
12. Review your decision every year to make sure that a new system won’t suit you better.
B.Undertaking stock takes
Stocking
Counting inventory is a pivotal part of stock management for any product-based business — no matter how
sophisticated your inventory system is. Find out everything you need to know about stocktaking here.

What is stocktaking?
Stocktaking (or stock counting) is when you manually check and record all the inventory that your business
currently has on hand. It’s a vital part of your inventory control, but will also affect your purchasing, production
and sales. Much like any aspect of inventory, the process of stocktaking will vary hugely from company to
company.
Despite the name, a stock take is about more than just stock management. Any inventory that your business
needs should be included. If you’re a manufacturer, for example, then you’ll want to record products that you
use to create your finished goods — because running out of these would be just as disastrous as running out
of stock.
What’s the difference between stock and inventory?
While they are often used interchangeably, stock and inventory are two different things. Stock is just the
products you sell as part of your daily business operations. Inventory, meanwhile, includes any other items
you need to make, store or sell your stock.
What is cycle counting?
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Cycle counting is a stocktaking method which involves checking a set portion of your inventory regularly on
set days. Essentially, instead of conducting a single annual count of the entire warehouse, you break it down
into several smaller mini stock takes.
This brings several benefits over traditional stocktaking, the biggest being that you avoid the disruption that
comes with a single annual take. For this reason, cycle counting is particularly popular among large firms that
can’t shut their operations down entirely. It can also help avoid the large variation that sometimes arises
when there’s a larger gap between takes.
However, cycle counting is a complex process that relies on high inventory accuracy to work. Some small
businesses use a mix of cycle counting and traditional stocktaking — at least until they can be 100% sure
that moving away from traditional methods entirely won’t bring problems down the line.
Why are stock takes important?
Any product-based business will need to ensure that their levels are 100% accurate from time to time as a
part of their inventory control. In some countries, it’s even a legal requirement. But even if you aren’t required
to do so by law, here are three key reasons why you should regularly check your goods.
1. See how well you’re tracking inventory
Relying entirely on your system for accurate stock levels is usually a bad idea. By comparing the figures from
a stock take to what you thought you had on hand, you can identify discrepancies and fix them before they
become problematic.
If you aren’t tracking your goods as well as you thought, then it may be a sign that you have poor inventory
control. It’s worth fixing issues sooner rather than later before they lead to bigger problems such as:
 Stock outs (when you run out of products to sell)
 Overstocking (when you have too many products on hand)
 Dead stock (when your products become obsolete before they can be sold)
2. Discover stock issues
Cloud software enables you to easily track your product levels and location, but it can’t do everything. Your
system might not highlight a transit problem, for example, whereas a manual check will.
Use a stock take to identify problems that your inventory management system might have missed: such as
damaged products, missing orders, poor control or theft. Sometimes these are one-offs that don’t cause too
much trouble, but they can also be symptomatic of a deeper flaw.
3. Ensure your business is meeting targets
When it comes to monitoring the performance of your business, you don’t want to leave anything to chance.
Calculating key metrics such as inventory turnover, for instance, requires 100% accurate figures.
Once you know exactly how your inventory control is performing, you can start refine your procedures and
plans to increase efficiency and grow margins. For example, you might:
 Reduce the amount of safety stock you keep on hand in case of an emergency or surge in demand
 Change up your pricing to ensure all your products are selling quickly
Stocktaking and your inventory system
The importance of (and disruption from) stock takes to your business will vary depending on your inventory
system. Businesses employing a periodic system, for example, are entirely reliant on stock takes to get
visibility over current levels. For these companies, recording stock can mean closing for a day or requiring
staff to come in after hours. A perpetual system such as Unleashed, meanwhile, should take some of the
onus off stocktaking: making the process a little less disruptive.
How to stock take
There are a few steps that every business should follow when recording stock. Generally, these can be
broken down into three stages: before, during and after the count.
Before the count
First of all, decide on a date and time for your count.
You don’t want any unnecessary distractions that could lead to miscalculated figures, so consider either
closing operations down for the day or conducting the take after hours. You’ll also need to set aside time
afterwards to resolve discrepancies and fix issues.
ext., it’s time to assign everyone a role and confirm your process. All staff should be aware of how the day will
progress and have clear steps to follow.
Just before the count takes place, there are two tasks to complete:
 Cut off all your purchases and sales. Otherwise, the incoming and outgoing stock will play havoc with
your figures
 Organize the area where the count will take place. Having a clean space helps ensure that there are no
unnecessary disruptions
 What happens on the day will depend on your chosen process? However, there are a few guidelines that
every business should follow in order for their take to progress smoothly:
Include everything

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Individually recording every item might seem like a tiresome task, but cutting corners can have dire
consequences. So take the time to check everything properly, including all your safety stock, cycle stock, and
unfinished goods. Don’t just rely on what the labels say.
Count warehouse to sheet
Make sure your staff are following this process in this order, not the other way round:
1. Recording the stock that is actually on the shelf
2. Noting that figure next to what your system says should be there
Looking at the system and then checking the shelf might seem easier, but it’s far more likely to lead to
mistakes.
Take breaks
Anyone that’s been through a few stock takes will say the same thing: they can be draining. You need
everyone involved to be as focused as possible throughout, though, so ensuring that you’ve got regular
breaks planned will really help keep things running smoothly.
After the count
Just because you have your figures ready, doesn’t mean that your stock take is over. There are still a few
more steps remaining: and failing to follow them will mean that you don’t get the full benefit from all the work
you’ve just done.
First of all, value everything correctly. Now you know exactly what you have, you can assess how much it is
all worth. Then, check your figures. The more times you check, the surer you can be that everything is
present and correct. Once you’re 100% confident, it’s time to upload everything into your inventory system.
Now, it’s time to reorder items that are near to running out and analyze the results of your take. Pay particular
attention to discrepancies — major or minor — between the figures from your count and your system.
Dealing with stock discrepancies
Any stock discrepancy is bad news for your business — even if you discover that you actually had more stock
on hand than you thought. They’re often symptomatic of a larger problem in your inventory control which
might be catastrophic if left to fester. Plus, they mean you are running your company on incorrect information.
When you encounter a discrepancy, the first thing to do is to uncover its cause. It might be a simple human
error (putting something in the wrong place or incorrectly entering data into the system). Alternatively, it might
be a serious problem such as theft or supplier issues.
Once you know what caused the discrepancy, you can take steps to ensure that it doesn’t happen again.
This may require changes to your processes, new software or extra security. Then, simply upload the new
correct figure into your system to resolve the problem.
Find out more about resolving stock discrepancies.
Planning ahead
Now, it’s time to make sure that you get maximum benefit from your count, by analyzing its results and how it
went. There are two areas to pay particular attention to:
1. How you can improve your inventory management. It isn’t just discrepancies that need addressing
from your take. It’s also an excellent time to take a look at how you can manage your inventory better.
So set aside time to brainstorm how you can improve your work area, procedures and systems
2. How you can make the next stock take run better. The next take is probably the last thing you’ll
want to think about. But while the last one is still fresh in mind, make sure to write down any issues,
improvements or sticking points so that every future count runs that little bit smoother.
How to cycle count
Cycle counting involves a different process to traditional stocktaking:
1. Set up your stock for cycle counting
2. Conduct each take on its allocated day
3. Start the process again
To set up your stock for cycle counting, first of all you split your inventory into several sections. You’ll use
each one as an indicator of your total inventory health, so it’s a good idea to carefully consider how your
inventory is allocated across each section.
Once this process is complete, you’ll want to ensure that each section is kept in a specific area, and
designate the day on which it is checked.
Next, you cycle through each count. Because you’re only including a small part of your inventory, there
shouldn’t be any need to close down your operation. However, getting an accurate final figure is still hugely
important. So ensure that everyone involved has a set process to follow, and discrepancies are dealt with
properly.
After you have conducted all of your mini stock takes, you start the process again to ensure your inventory is
kept 100% accurate.
How often should you count stock?
The frequency of your stock takes should be a key consideration when choosing an inventory management
system — but how do you decide how regular your counts should be?
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The exact answer will vary widely from business to business, depending on the complexity of your inventory,
whether you’re utilizing cycle counting and a host of other external factors. However, there are a few things
you should bear in mind when deciding how long you can leave until your next tally.

 Your product-tracking accuracy. The more confidence you have in your inventory tracking, the fewer
counts you’ll need.
 Your reliance on accurate figures. If you’re a food manufacturer who needs to deal with expiry dates,
for example, you might want to stock take more often.
 How much disruption you can handle. Bear in mind that a business that rarely takes stock will find it far
more disruptive than one that does it regularly.
Improving your stocktaking
There’s no single method that will work for every company — but there are lots of ways to improve how you
record stock. Here are some tips to get started.
Use a barcode scanner
Manual counts are prone to error, especially as your company grows. Barcode scanning technology reduces
these risks by allowing you to quickly record stock levels and store the data at the same time. A barcode
scanner uses a light source, a lens, and a light sensor to enable you to scan and view large amounts of data
in one place.

Dodge distractions
Distractions such as smartphones and background noise can mean that you miss important details. Cutting
them out might seem cruel, but concentrating on the task at hand will help you finish the job quickly and
efficiently.
Keep the warehouse tidy
Messy, disorganized stockroom slows things down and can lead to increased mistakes. The more organized
your warehouse is — preferably with labels to differentiate between items — the easier everything will be.
Get everyone’s input
Ask staff who were involved in each stock take for their opinion on how the next one could go better. Plus,
ask them to suggest any general improvements based on the results of the count
Consider dedicated software
Inventory management software enables you to see stock levels updated in real-time, reducing your reliance
on stock takes for accurate information. When combined with other tools such as barcode scanners, you can
begin to automate the entire process.
Find out more about implementing inventory management software — or to learn more about getting started
with inventory management with our guide to purchasing, production and sales.
C.Processing financial records
What Are Accounting Records?
Accounting records are all of the documentation and books involved in the preparation of financial
statements or records relevant to audits and financial reviews. Accounting records include records of assets
and liabilities, monetary transactions, ledgers, journals, and any supporting documents such as checks
and invoices.
KEY TAKEAWAYS
 Accounting records are all of the documents involved in preparing financial statements for a company.
 Certain regulatory bodies require companies to keep their accounting records for several years in the
event that they need to be reviewed.
 Accounting records are often reviewed for audits, compliance checks, or other business related
necessities.
 Types of accounting records include transactions, general ledgers, trial balances, journals, and
financial statements.
Understanding Accounting Records
Rules and laws are generally in place to force accounting entities and accounting firms to retain accounting
records for a specified period of time. In the U.S., the Securities and Exchange Commission (SEC) requires

16
that accounting firms retain records from audits and reviews for at least seven years and that they retain any
records that support or cast doubt on the conclusions of an audit.
There is no universal agreement as to which collection of business documents comprise a comprehensive set
of accounting records. Accounting records can be thought of as a catch-all term. Different parties, such as
creditors, equity investors, or groups interested in corporate governance will have different, and often
competing priorities; their demands or preferences for documentation will continuously change.
At different points in the economic or business cycle, parties demanding accounting records will alter their
request for information based on the position in a cycle. For instance, at the start of an upswing in a business
cycle, requests for financial statements might be strong, as equity investors are bullish. In contrast, during a
dip in a business cycle, creditors might require more details surrounding balance sheet items, as they
become more hesitant to extend credit.
In short, accounting records and even methods of accounting are continuously evolving to keep pace with the
changing nature of business and the information demands of interested market participants.
Types of Accounting Records
Accounting records generally come in two forms: single entry and double entry. By its name, single entry is a
much simpler method, which works better for smaller operations. The double entry method is more complex
and requires two entries, one credit and one debit, for every transaction a business makes. The goal is to
balance the books and account for the movement of cash through an organization. This is primarily done in
larger corporations, which helps with spotting errors and potential fraud.
The specific types of accounting records that are reviewed consist of the transactions, journals, general
ledgers, trial balances, and financial statements of a company.
Transactions
The transaction is the starting point for any accounting record. It is the catalyst for the entire process that
shows any item bought or sold, depreciated, etc., that a business transacts.

Journals
Journals record all of the transactions that are made by a company. Journals can cover all of the entire
transactions of a company or there can be different journals for different areas of the firm. The only necessity
is that journals are kept up to date and that all the transactions are recorded in some manner.
General Ledgers
The general ledger is the movement of transactions in the journal to designated places in the general ledger
that are outlined by the type of transaction. This makes it easier to comb through the transactions and
categorize them correctly in the preparation of the trial balance and ultimately the financial statements.
Trial Balances
The trial balance is the summation of all credits and debits within the business cycle. Once this step has been
completed, all entries should balance out. If they do not, this can reveal an error that must be corrected or
possible fraud. It will be crucial to determine the disconnect.
Financial Statements
The financial statement is the final piece of document that comprises the components of all the other
accounting documents. The financial statements are what will be provided to the public and to regulatory
bodies for viewing. Investment analysts can review the financial statements to arrive at their thoughts on the
company. Regulatory bodies can request the accounting documents that the financial statements were
generated from to gain a deeper understanding of the company.
The steps in the accounting process
The accounting process is three separate types of transactions used to record business transactions in
the accounting records. This information is then aggregated into financial statements. The transaction
types are:
1. The first transaction type is to ensure that reversing entries from the previous period have, in fact,
been reversed.
2. The second group is comprised of the steps needed to record individual business transactions in
the accounting records.
3. The third group is the period-end processing required to close the books and produce financial
statements.
We will address these three parts of the accounting process below.
Beginning of Period Processing
Verify that all transactions designated as reversing entries in preceding periods have actually been
reversed. Doing so ensures that transactions are not recorded twice in the current period. These
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transactions are usually flagged as being reversing entries in the accounting software, so the reversal
should be automatic. Nonetheless, examine the accounts at the beginning of the period to verify the
reversals. If a reversing flag was not set, an entry must be reversed manually, using a new journal entry.
Individual Transactions
The steps required for individual transactions in the accounting process are:
1. Identify the transaction. First, determine what kind of transaction it may be. Examples are buying
goods from suppliers, selling products to customers, paying employees, and recording the receipt
of cash from customers.
2. Prepare document. There is frequently a business document to be prepared or recognized to
initiate the transaction, such as an invoice to a customer or an invoice from a supplier.
3. Identify accounts. Every business transaction is recorded in an account in the accounting
database, such as a revenue, expense, asset, liability, or stockholders' equity account. Identify
which accounts are to be used to record the transaction.
4. Record the transaction. Enter the transaction in the accounting system. This is done either with a
journal entry or an on-line standard transaction form (such as is used to record cash receipts
against open accounts receivable). In the latter case, the transaction forms record information in a
predetermined set of accounts (which can be overridden).
These four steps are the part of the accounting process used to record individual business transactions
in the accounting records.
Period-End Processing
The remaining steps in the accounting process are used to aggregate all of the information created in
the preceding steps, and present it in the format of financial statements. The steps are:
1. Prepare trial balance. The trial balance is a listing of the ending balances in every account. The
total of all the debits in the trial balance should equal the total of all the credits; if not, there was
an error in the entry of the original transactions that must be researched and corrected.
2. Adjust the trial balance. It may be necessary to adjust the trial balance, either to correct errors or
to create allowances of various kinds, or to accrue for revenues or expenses in the period.
3. Prepare adjusted trial balance. This is the original trial balance, plus or minus all adjustments
subsequently made.
4. Prepare financial statements. Create the financial statements from the adjusted trial balance. The
asset, liability, and shareholders' equity line items form the balance sheet, while the revenue
expense line items form the income statement.
5. Close the period. This involves shifting the balances in the revenue and expense accounts into
the retained earnings account, leaving them empty and ready to receive transactions for the next
accounting period.
6. Prepare a post-closing trial balance. This version of the trial balance should have zero account
balances for all revenue and expense accounts.
In reality, any accounting software package will automatically create all versions of the trial balance and
the financial statements, so the actual steps in the accounting process may be considerably reduced.
Instead, the steps used in a computerized environment are likely to be:
1. Prepare financial statements. This information is automatically compiled from the general ledger
by the accounting software.
2. Close the period. The accounting staff closes the accounting period that has just been completed,
and opens the new accounting period. Doing so prevents current-period transactions from being
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 inadvertently entered into the prior accounting period. In a multi-division company, it may be
necessary to complete this period closing step in the software for each subsidiary
D.Producing documentation
Process Documentation-Protecting the Lifeline of Your Business (Includes Process
Templates)
Process documentation is vital for efficient business operations. Here’s Intelivate’s step-by-step guide for
documenting process, including lots of process templates.
The number of businesses – large and small – I see putting themselves at risk because of a lack of
documented process amazes me. Process documentation is vital to any operation. I’ll explain why in just a
bit.
Because you can’t document what you don’t have, I’ll walk you through how to gather, validate and organize
your process. I’ll show you how to document processes in a template I provide. You can also download all
the templates I reference in this guide.
Finally, I’ll give you some tips on how to organize your project.
This is not a guide on process improvement. You must first have processes thoroughly documented before
you can even consider improving them.
Business process documentation is complex and critical to your operation. This is an in-depth article, so you
might want to bookmark this page and reference it as you go through the phases outlined below.
Why is Process Documentation Important?
Because processes are the core of your operations, documenting business process is important for many
reasons including:
 Operational redundancy reduces risk in the event that key talent leaves or is unavailable.
 Business process improvement can only be done with accurate process documentation.
 Operational consistency by documenting, auditing and enforcing processes.
 Operational efficiency by reducing performance variance through operational consistency.
 Acquisition requirements often include detailed process documentation.
 Client requirements often include process documentation, especially for outsourcing in regulated
industries.
 Risk mitigation to enforce and show compliance with industry requirements such as HIPAA.
 Patents and trade secrets need detailed process documentation for both filing and defense.
Documentation is one of the first areas I assess when I start working with a new B2B consulting
services client. Inevitably, some of the challenges they experience are linked to process.
Business Process Documentation is Your Operational Blueprint
Would an architect or structural engineer make recommendations or changes to a building without first
carefully analyzing the facts of a blueprint? No. If they made these decisions based on assumptions and not
facts, the structural integrity of the building is compromised.
The same holds true when making operational decisions based on assumptions and not facts. You risk the
integrity of your business operations. Here is a quick, 45-second video giving more detail on the importance
of process documentation in operational decisions.
That’s the critical role of documenting business processes. It becomes the blueprint of your operations. It’s
the first thing you reference when executing business change and transformation. It provides you the
awareness you need to make these major decisions with confidence.
Process Documentation Approach
The approach I am going to walk you through here involves two components:
 Inventory and collect your business process
 Document and optimize your process in a structured template
Although both components are critical, how you gather your process is key to documenting. Why? If the data
isn’t correct, then your process document won’t meet your goals.
Let’s start with the tools, templates, and approaches to gathering your processes.
You can’t document what you don’t have and you don’t want to reinvent the wheel. Therefore, work must
occur before you document your process. These steps are:
 Develop messages and a communications plan.
 Inventory current process documentation.
 Collect process.
 Validate process.
Inventory and Collect Your Business Process
1. Develop a Process Documentation Communications Plan
Careful messaging and structured communications are critical to the success and validity of documenting
your processes. You need everyone on board and providing you with accurate data.

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Rumors start and spread quickly in this type of project, so be proactive in what, how, and when you
communicate.
As soon as people start hearing about gathering and validating processes, teams become uneasy. Why?
 They feel like they are being audited.
 They fear they are documenting themselves out of their job.
Therefore, it is imperative to develop and execute a communications campaign for your process initiative.
The specifics of the plan and the messages depend on your brand, but these are the key communications to
deliver:
 Communicate why you are collecting and validating processes and how it will benefit the business,
department, and individual. I like to position this as, “When you are out of the office, you people won’t
bother you with questions.”
 Explain that it’s ok if the process is done differently than how it’s now documented. The business
needs to know how it is actually happening. Any differences could actually lead to a new best practice!
 Reassure teams that this is not intended to reorganize or cut positions.
 Use the “Why is Process Documentation Important?“ points from above in your messages.
Here are some points on using positive transition words in your communication message to increase buy-in
and participation.
2. Inventory Current Processes and Documentation
Taking the time to develop a current process inventory gives you a status of your current process
documentation and provides structure for the collection phase.
If you have few or none of your processes documented, the inventory is a critical first step to define,
categorize and prioritize your business process.
Organize your process inventory in a way that fits with your business. This template covers most needs for
developing an inventory. Here’s how to use it.
Process Name
Develop and enter a unique name for the process. Make the name descriptive but short. This is used
throughout your documentation.
Process Function / Department
Depending on the scope of your processes, organize the function/department in a structured, category
hierarchy.
For example, if you are documenting processes for a customer care call center, you organize by each
defined function in the call center. This structure is important, as it dictates the structure of your document, so
be thorough in capturing all related functions.
Documented?
Is the process currently documented? The input for this field is a simple ‘yes’ or ‘no.’
After you have completed your process inventory, this field gives you an idea of the level of effort required to
document. Update this field as you document each process.
Validated?
Even if the process is documented, you still need to validate it. I’ll explain what process validation is and ways
to do it in just a bit.
Related Process Documentation Links
Any current documentation related to the process is linked in this field. These are also supporting documents
to build, document and validate the process.
Once you have documented the process, place a link to the document section here.
Notes
Related notes to the process. These include status or requirement notes.
Download and Modify the Business Process Template – Inventory Spreadsheet
1. Open the Business Process Documentation Template – Inventory Spreadsheet in your browser. It’s in
Google Sheets but can be downloaded in as an Excel, PDF, or .cvs file formats.
2. Sign in with a Google Account to download or copy the spreadsheet. These options are available
under the ‘File’ menu.
3. Once you copy the process template, you can change the dropdown lists by following these simple
instructions.
If you are distributing this sheet for teams to complete, don’t forget to include the “ Why is process
documentation important?” communication points outlined above.
3. Collect Process Details Based on the Inventory
Once you’ve completed your inventory, it’s time to collect details on processes that need documentation.
The template includes detailed instructions, so I won’t go through all of those here. You can organize and
distribute this process input worksheet in a survey collection tool like Google Forms.
Regardless of how you organize and distribute the input worksheet, here are some tips for making collecting
your processes effective and efficient.
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  Get input from multiple people who work the process. Multiple entries allow you to find overlapping or
process gaps.
 Give exact dates, times and methods for completion. People will stall. Trust me.
 Distribute and track input forms by location and/or function. If the same process occurs in multiple
locations, make sure each inputs the process and records their location(s).
 Provide examples of the input to promote data accuracy and integrity. TIP! Customize the process
input examples for each ‘audience’ for greater understanding and accurate input.
 Use the communication plan and messaging tips at the beginning of this article. This is critical for the
input phase.
Download and Modify the Business Process Documentation Template – Input Worksheet
1. Open the Business Process Documentation Template –  Input Worksheet in your browser. It’s in
Google Docs but can be downloaded in as Word, PDF, .rtf, .pub or .txt file formats.
2. Sign in with a Google Account to download or copy the document. These options are available under
the ‘File’ menu.
4. Validate Your Process Documentation
Your documentation is only as good as the data you get back. Although self-reporting is an important part of
this, the data you receive must be validated. You’ll use this data to improve your process at some point, so
you must be confident with the data to make these operational changes.
There are many of ways to validate processes, including:
 Shadowing involves observing each part of the process being performed. This can also be
incorporated in the input phase.
 SME validation involves carefully selecting subject matter experts for the process and have them
validate the accuracy of the data. Ensure these people have enough field experience to know how the
process is done.
 Process gap analysis of input data for the same processes that conflict.
Process validation may seem redundant, but it’s critical for data integrity and accuracy. Remember to update
and track of all validated processes in your business process documentation template inventory spreadsheet.
Now it’s time for you to take all this great data and organize it into a document or series of documents.
Process Documentation Content, Structure, and Optimization
I’m going to give you a simple, baseline structure and template to organize your processes. There are tons of
tools to organize and automate much of this, but I’m going to keep this simple. If you need any suggestions
around tools, let me know.
The second biggest mistake organizations make with process documents (besides not having anything
documented), is making the investment and then doing nothing with it. This template structure encourages
constant evaluation, updating, and providing stakeholder status of your process.
Create Two Versions of Your Process Documentation
Regardless of where you put your documentation, you’ll need two versions:
 Working version is the copy used for ongoing updates and status for your processes.
 User version is the copy used and optimized for end-users to reference during daily operations.
I’ll present the working version here. The working version is also great for explaining the process and
updating stakeholders.
The user version has fewer sections.
Let’s go through each section.
1. Process Documentation Approach Summary

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2.Current Process Documentation Inventory

3.Busine
ss
Process

Documentation Template – Input and Summary

What – Why-Purpose Who- Person that When-Timeline How-Technology

Description of of step executes the requirements for used;
step process (owner) step completion Dependencies or
requirements that

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 must happen
before step
execution
Example: Example: to Example: Example: 14 days Example:
Determine call determine if Resource Agreements made
center hours ofany hours of Management by senior
operation operation leadership on any
changes will be hours of operations
made to the changes.
call center that
would impact
start/stop
times.
4.Process Documentation Table of Contents or Directory

5.Process Swim Lane Diagram

What is a Swim Lane Diagram?

A swim lane diagram is a visual representation of a processes steps, dependencies, resource requirements
and result.
Why is a Process Swim Lane Diagram Important?
There are several benefits to a swim lane diagram including:
 Faster and easier comprehension of complex processes.
 Process gap and improvement analysis.
 Process simulation depending on the tool.
 Linking processes and dependencies.
 Identify both under and over-utilized resources and technologies.
 Identify operational bottlenecks and slowdowns.
How to Develop a Swim Lane Diagram?
I recommend tools like Visio and Lucid chart for most swim lane diagrams. There are many process
automation tools that have dynamically built swim lane diagrams.
1. Access your validated data from the process documentation input worksheet.
2. Consolidate the “Who” and “How” data. This is your left-hand column in the swim lane.
3. The “What” data is each step in the process and mapped along the “Who” and “How” column.
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 4. Although you can put timelines in a swim lane document, unless regulation requires them, I prefer to
keep it visually simple.
6.Completed and Validated Process Documentation Input Data

7. Process Recommendations and Action Items

Download and Modify the Business Process Documentation Template

1. Open the Business Process Documentation Template in your browser. It’s in Google Slides but can be
downloaded in as PowerPoint, PDF, or image file formats.
2. Sign in with a Google Account to download or copy the template. These options are available under
the ‘File’ menu.
3. Alternatively, you can go to my Slide share profile and download the same business process
documentation template there.
Optimize Business Process Documentation for End Users
Documenting your process has little impact if people don’t know where to reference the information, it isn’t
easily accessible or understandable. Therefore, you want to make sure you optimize the documentation.
Although optimization methods depend on where you keep your process documentation and how it’s
organized, here are some tips:
 As I noted earlier in the process inventory phase, take the time to build a solid hierarchy and structure
of your process categories/functions.
 Develop a tagging structure to link processes, steps, and dependencies, especially if you store
process documentation online.
 Hyperlink processes, steps, and dependencies for easy reference.
 Target the language and structure for the intended audience of the process documentation.
 Don’t use process documentation directly for training. Although process documentation must the basis
of training material development, it shouldn’t be the training material itself.
 Develop visual job aids and infographics for your teams to reference daily. You can see a process
infographic we use to support our communications process and effective collaboration.
Organizing Your Process Documentation Project
I left this for last, as you need to be familiar with the templates and data before I give you tips on how to
organize your project.
I like to keep things as simple as possible, even with something as complex as documenting business
processes. Here is the approach we use for project organization and task tracking.
Depending on the scope and number of processes, you can use the same list categories I outlined to
organize your project. Each card would represent a process. Assign any person involved with the process to
the card.
You can use color-coded labels to represent each documentation phase or make separate projects for each
phase.
Alternatively, each list can represent each phase of your process documentation project.
You could even use Trello as the central repository of your process documentation! However, keep two
separate boards:
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  One for ongoing process work,
 One for end-user search and reference.
Just keep it simple and usable. That’s key in organizing your project as people must stay engaged to keep
your process documentation a living part of your operation. Remember, it’s now your operational blueprint.
Consider a Phased Approach to Documenting Process
For large-scale documentation projects, I recommend a phased approach. There are many ways to organize
this but start with a pilot until you get everything down to near-perfect. At that point, phase the process
documentation project out to more parts of the organization.
Additional Business Process Documentation Pointers
Remember when I said that business process documentation was complex? I’ve given you a lot here and
hope it sets you up for success in your initiative.
Here are a few pointers and reminders:
 Bookmark and reference this as you go through each phase of documentation. You don’t need to do it
all at once.
 Don’t forget to build a communications plan. That is critical to making your initiative a success.
 Remember, every organization is different. There are countless ways to document processes. Don’t
think that you can’t or shouldn’t customize the approach I outlined here.
 This process is ongoing. Don’t document and then forget about it.
 Check back soon (or subscribe above), as I’ll publish an article on the next step – improving the
processes you documented.

EXERCISES

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A. True or False: Write (YES) if the statement is essentially true and (WRONG) if the statement is
essentially false. Write your answer on the blank provided before the number.
_____________1. It is possible not to build bespoke software specifically for your business.
_____________2. Packaged software is standardized and generally low priced in comparison to bespoke
software.
_____________3. All software applications need a software license in order to run.
_____________4. Proprietary software is software developed by a consumer and made available for use
under an end-user license agreement, which you effectively accept when you install the software.
_____________5. Per User Licenses are usually for one installation of the software on a server, computer,
phone or other device.
_____________6. Site licenses are much less restrictive. They typically allow as many users as you wish at
one location.
_____________7. Per Device Licenses are common where more than one person can use the software
simultaneously.
_____________8. Software licenses are often expensive.
______________9. The lower software licensing costs is one of the advantages of open source software.
_____________10. It may be difficult to get commercial-grade support with agreed response timescales is
one of the main advantages of open source software

B. Identification: Identify what types of accounting records is being stated.

_____________1. Record all of the transactions that are made by a company.
_____________2. This is the final piece of document that comprises the components of all the other
accounting documents.
_____________3. This is the movement of transactions in the journal to designated places in the general
ledger that are outlined by the type of transaction.
_____________4. The starting point for any accounting record.
_____________5. The summation of all credits and debits within the business cycle.

C. Fill in the blanks. Fill in the blanks with your correct answer.
1. ____________________is used to manipulate text and apply a basic design to your pages.
2. ____________________ are an essential business and accounting tool.
3. ____________________ is a tool to help you record the flow of your company's money and examine
your financial condition.
4. The main benefit of using modern accounting software is________________," said
Fabien Dawidowicz, CFO of Spendesk.
5. _________________________ some systems can be set up to understand differences in weight and
distance to provide accurate shipping cost estimates.
6. ____________________ if you need to send a product to a customer directly from a supplier or
manufacturer, it can wreak havoc with your billing unless your accounting platform can handle drop
shipments.
7. ___________________ this can save you a lot of time and streamline the shipping process by
producing labels along with orders or invoices.
8. ___________________ a link to a courier's tracking system ensures that you can monitor what has
been shipped and estimate delivery times more accurately, providing better service to your customers.
9. _________________________ following the lifecycle of an item – from purchasing to stocking to sales,
all the way to shipping – is a great asset to help you track inventory levels.
10. The biggest threat to success is ______________________.
D.Enumeration: Enumerate the following:
1. Three different types of proprietary software licenses.
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
3.What are the features of accounting software?
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
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 _______________________________________________________________
4.Give at least 5 Business Technology Analyst Responsibilities and Duties.
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
________________________________________________________
Essay: why is producing documentation is important? (10 points)
___________________________________________________________________________________
___________________________________________________________________________________
___________________________________________________________________________________
___________________________________________________________________________________
___________________________________________________________________________________
___________________________________________________________________________________
___________________________________________________________________________________
___________________________________________________________________________________
_______________________________________________
Name of Student _____________________________________________________________________

IRENE ASIONG NAGRAMA

Instructor

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