Internal Controls Within The Accounting Systems Of SML

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Register to read the introduction… 2.2 The findings within the report are that a clocking in card system is implemented across the organisation. This would cost the organisation approximately £22,440 (Appendix 5). The staff will require minimal training on how to use the clocking in machines. The machines come with user manuals.

2.3 Another key finding of the report is to bring in Sage computerised payroll package. This will help make calculating wages, holiday pay and taxable benefit calculations simple, from the information recorded on the employee clocking in cards. Also sage computerised payroll package will help provide a secure means of employee payroll records.

2.4 The sage computerised payroll package recommended will cost approximately £305 + VAT to purchase the software and a further £55 + VAT for providing training to each payroll clerk. This will train them on how to use the software package.

2.5 A full cost benefit analysis is provided in section 10 of this
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Much of the revenue is generated by the retail outlets during the lunch period. There are also some trade customers too.

4.3 Organisation Structure:

4.3.1 The owners have not invested much of their own funds in the investment and expanding of the business.

4.3.2 The head office is in Nottingham. This is where management and accounts departments are situated. The business has a relatively flat and centralised structure. Where all five senior accounts staff report to the company accountant, who approves all payments along with the preparation of the monthly management accounts and reports for the finance director, George Bartlett who has overall responsibility for accounting procedures and systems. (Organisation chart Appendix1)

4.4 Systems Structure:

The system structure is a decentralised one where all systems have their own computers. There are 38 computers in all in the head office in Nottingham and one for each of the retail outlets. All the computers in the organisation are running on the windows vista system. Inventories and purchase orders are made using MS Excel Spread sheets.

4.5 External Regulations affecting the

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