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Accounting systems are an essential element in ensuring
financial accountability. A good accounting system should:
- Identify and record all transactions
- Record transactions timely
- Record transactions accurately
- Record transactions in the proper period
- Present transactions and disclosures properly in the
financial statements.
One common misperception is that a computer system is
an accounting system. Accounting software is only a means
to process data. It does not necessarily ensure that all
the objectives listed above are met. Failures in the financial
reporting system usually occur when the system and flow
of transactions through the organization is not organized
in a systematic and efficient way. And that people involved
in the process do not understand what they are to do and
how to do it. See Sample Accounting Policies and Procedures Manual. Finally failure usually occurs because these
systems are not documented and the persons assigned to
the tasks have not been properly trained or supervised.
Accounting software that has been properly installed and
implemented can assist the organization in ensuring that
transactions are posted to the proper accounts and that
the financial data id readable, understandable and useful
to management and the board of Directors. See Accounting
Software Consulting
Sample Forms and Policies
Wegner has a number of sample forms and policies that
we will provide to Non-Profit Organizations free of charge.
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