Accounts Receivable Process Paper

Improved Essays
Use case diagram for the accounts receivable
The diagram represents the activities performed during the maintenance of old and new accounts. It is through this process that new accounts are created, overdue ones identified, and others discarded. The process identified in the diagram also helps in identifying the amount of money that the company is set to receive from its customers from time to time (Ibrahim et al., 2011). This process is crucial since it ensures that the company does not run on debt and that all products and services are paid for. The accounts receivable department also ensures that overdue accounts are closely monitored for thirty to sixty days. It also ensures that the company is cautious when granting credit to customers.
…show more content…
It outlines the invoicing process, the parties involved, items, prices, and quantities of products. The purpose of developing the use case diagram for the invoicing department is to ensure that specific business transactions are outlined and that they meet the standards of the company. It is very critical to note that this invoice transaction determines he preconditions for the payment process (Bonilla-Morales, Crespo, & Clunie, 2012). In addition, the diagram helps in the development of critical information that is useful to all parties in the business transaction. In addition, it identifies if there are other parties involved other than the customers and the …show more content…
One has to consider the goals of the training to reduce the costs incurred during the transition (De Waal & Batenburg, 2012). It is important to ensure that the training will enable the users to understand and use the new system as quickly and efficiently as they used the old system. The importance of doing this is to make sure that the new system accomplishes the goal of enabling the user to perform all activities accurately and securely than before (De Waal & Batenburg, 2012). It is also important to set timeframe objectives since they determine when the new system will be rolled out. However, the set periods will depend on the complexity of the new system and the ability of the company to offer training to the various departments. In addition, it is important to consider the number of users who will be trained in the application of the new system. It is of paramount importance to note that UMUC has many departments and end-users. Therefore, to facilitate speedy training, departments should be trained separately to ensure that the workers master the new skills. Through this, it will be easier to rotate the training between the various departments (De Waal & Batenburg,

Related Documents

  • Improved Essays

    Time management goes along with being organized because you will need to manage your priorities and task, so that everything gets done when it needs to be done. Depending on what kind of job you are going to you may need to be adaptable. Some accountants switch from business to business, so they would have to get used to this different numbers and data. Honesty also plays a major role. It is important to follow all the ethical standards that are put out there for businesses and for accountants.…

    • 767 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    One of the new strategies the company will be using is changing over to new technology that they have not used before. This strategy will mean that the employees will have to be trained on these new skills. The managers will have to be trained as well but on more advance information for the technology because they will have to be the subject matter experts when issues arise. With this new technology comes new cost for the company to handle and they have to be ready for that. The company has to be ready for that change as well and not be afraid to take a small lost as first.…

    • 935 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Payroll System Essay

    • 837 Words
    • 4 Pages

    Insufficient training increases risks by creating confusion and inaccuracy thus, decreasing user satisfaction and the credibility of the new system (Seo, 2013). Employees and managers should be involved in the implementation and adaptation of the new system as much as possible and a fair amount of time should be set aside for employees and managers to learn how to use the new system. Many different methods of training are available; however each method has certain advantages and disadvantages. Therefore, several different training methods such as, virtual training, on-the-job training, role playing, etc. should be provided to employees and managers.…

    • 837 Words
    • 4 Pages
    Improved Essays
  • Superior Essays

    To increase the level of skill, job variety can be introduced. Since specialization means that workers are performing in their best capacity, variety means they will be challenged with tasks requiring skills they may not be the strongest at. With this approach, management must ensure they pay attention to any licensing and credentialing requirements and that pay grades do not become an issue. To increase responsibility, work processes can be reorganized so that rewards and consequences are more closely tied to individual employee performance. While this sounds simple in theory, management should first ensure it has determined and qualified work product standards and then it must ensure that the right supervisory structure and personnel are in place to provide sufficient and meaningful supervision of employees and work products.…

    • 917 Words
    • 4 Pages
    Superior Essays
  • Improved Essays

    It is a collection of integrated applications that a company uses to connect activities across all of its departments so that every employee is working with the same information. (Shacklett, 2015) By implementing an ERP system, companies can streamline their operations and standardize business processes, which saves them time, effort, and most importantly, money. Companies often choose what ERP tools they need based upon which business processes they want to be improved. It also depends on what type of business they are running, such as if they sell products or services. If they sell products, they might want to choose ERP tools that will help them address problems regarding manufacturing, distribution, or supply chain management.…

    • 799 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    NYPRO Case Study

    • 740 Words
    • 3 Pages

    I recommend NYPRO, to used weekly or monthly reporting system rather than daily basis, because it will mainly help them to evaluate progress and performance of all employees. Exhibit 4, 5, 6 was used to calculate profit on monthly basis for performance evaluation. Weekly reports will help NYPRO, to save time in making of jobs occur in a week. With the help of weekly reports, NYPRO can keep track their responsibilities/performance to achieve their targets for certain time period. On the other hand, it will also help NYPRO managers to give feedback to their employees to acknowledge their work.…

    • 740 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    Tesco Hr Policies Essay

    • 1466 Words
    • 6 Pages

    printing documents. Administration assistant Ensure that Tesco is well organised by making sure that day-to-day office tasks run smoothly. Cleaning staff Ensure that Tesco is well cleaned to encourage more customers to come to Tesco. Maintenance staff Responsible for routine maintenance work for Tesco to look better to encourage clients to shop at Tesco. Security Responsible to patrol Tesco to make sure nothing is stolen for Tesco to not lose their profit of this stolen product.…

    • 1466 Words
    • 6 Pages
    Improved Essays
  • Great Essays

    Monthly Reviews should be done by the managers in the initial phases to understand if the Joint Venture is going to be success or not and to check if The Vietnam Polymer Company is following the Development plan decided by the management. One of the most important parts to be played by the managers is to take care if the communication by both the companies is well established and clear. Clear and pre written communication will avoid discrepancies later. Both the companies may have differences in the capital, technology used, risks, assets etc. These issues should be carefully studied by the management in the decision period of forming the collaboration.…

    • 3079 Words
    • 13 Pages
    Great Essays
  • Superior Essays

    The next section within Dollar Store’s business plan would be the management summary. “This section of the business plan includes a description of the functions that will need to be filled, a description of the key management personnel and their primary duties, an outline of the organizational structure for the venture, a description of the board of directors, a description of the ownership position of any other investors, and so forth” (Spinelli, S., Adams, R. J., & Timmons, J. A., 2012, p. 262). This section is important because it focuses on the necessary expertise that the business needs in order to be successful and putting the proper people in place to carry out the plan. The next section of Dollar Store’s business plan is the financial plan.…

    • 918 Words
    • 4 Pages
    Superior Essays
  • Improved Essays

    Mangers and leaders must learn to do this and be effective if they want to keep up with the fast changing environment. Management will need training modules that will familiarize them with anti-discrimination law, suggest behavioral changes, and increase cultural awareness and cross-cultural and generational communication. With these trainings there must a clear understanding between equal employment opportunity, affirmative action and diversity and inclusion. Failure to do this will case the program to be a failure. Management will have to be trained to communicate effectively, being able to break down the cultural and language barriers.…

    • 1103 Words
    • 4 Pages
    Improved Essays