Accounting Information System 7 Essay

5557 Words Nov 24th, 2010 23 Pages
Executive Summary
This report aims at finding suitable accounting software to replace current accounting system that no longer meet the needs of the company. A brief introduction to the company Q.L. Medicine is firstly delivered, followed by a comprehensive needs analysis, which focuses on the requirement of a new accounting software. Three solutions—Microsoft Dynamics AX, Sage PFW and TRAVERSE—will then be provided. Each will be evaluated with the same criteria and then conclude with the best one—Microsoft Dynamics. Finally, a recommendation for the next steps towards the company will be suggested.

Q.L. Medicine is a multinational company, exporting the traditional Chinese medicine worldwide. Since current
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The shipping is outsourced to a freight forwarder hence the Shipping division is mainly responsible for contacting with the freight forwarder and dealing with problems may occurred. The Declaring division follows the official procedures such as commodity inspection, cancelling after verification and tax rebate.

Revenue cycle
The revenue cycle incorporates the core business process of the Q.L. Medicine. In the beginning, the customer applies for the Letter of Credit about types, quantity, and all detailed order information at warranty bank, which transfers it to Bank of China after confirmation. Then Bank of China notifies Q.L. Medicine to prepare goods and all the documents according to the Letter of Credit. Based on the Letter of Credit, Sales Department arranges shipping at the required date. Simultaneously, Documenting Department prepares Bill of Lading and sends it to the customer. Once the goods are prepared according to the Letter of Credit and delivered to customers, Q.L. Medicine will receive the payment from Bank of China by confirming the full set of documents, which includes Bill of Lading, Commercial Invoice, Packing List, Certification of Original, and GSP FORM A. Furthermore, to assist management make informed decision, Accounting Department collects customer information to produce Bad Debt Report and Sales Department produces Sales Analysis Report for management. However, five problems existing in

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