DESIGN AND IMPLEMENTATION OF A COMPUTERIZED ACCOUNTS RECEIVABLE SYSTEM

CHAPTER ONE

INTRODUCTION

1.1       BACKGROUND OF THE STUDY 

Account receivable is a broad aspect in the banking or business sectors and it is mostly concerned with timing and measurement. Account receivable implies the issue of timing and measurement. In most receivable transaction, the account to be recognized is the exchange price between the two panties that is the purchaser and the collector; the exchange price therefore, is the amount for the debtor (a customer or a borrower) and is generally evidenced by some type of business document after an invoice. There are two factors that may complicate the measurement of the prices; these includes:  

1.       The length of time between the sale and due date of payment.

2.       Availability of discount.

This project work will focus mainly because of receivable, the different problems facing account receivable and how such problems can be saved. Emphasis will be equipped much on how these account receivable could be computerized because the computer is expected to show the level of importance. Account receivable is important aspect of accounting. It deals with the credit aspect in banking requires that we are acquitted or declared with verse knowledge of the computer before applying it as a device to manage and control the account receivable of a company like Anammco Ltd, Emene, Enugu. The various transactions about receivable could be clearly shown using the computer while the computer owns accruable business transaction and the nature of the profits made by the company or firm. The different percentage that shows either to be reduces or increase by the company could be worked out suing the company to shows for it. Mostly computer has helped immensely in industries or factories as well as bank.

Accountants make it easier to work with computer for customers who come to pay- in for goods brought, expresses their every day interest on the way computers records their affairs for future use.

The computer has helped in no small measure and want to make use of the system; the main point would mainly be on account receivable. The different way in which account receivable is being received for the purchase of goods and services with money being used for the transaction of business which is gotten in return will be debit within this text of the account receivable system.

1.2    STATEMENT OF THE PROBLEM

This project is studied to solve some specific problems that the account and the customers are confronting daily. It could take the form specified below:

1.       It could be how to computer the total money or receivable forms from the customers at the end of the week, month or year at the basis, which the organization want to be.

2.       To design a computer model that will be able to update, retrieve, input and delete some specified data on specified customers at any given time and to required by the company about the customer.

3.       To design an effective system to undertake the transaction of the accounting activities more effectively and efficiently.

1.3    PURPOSE /OBJECTIVE OF THE STUDY

 The purpose of this project is to design and implementation of a computerized system, which would stand as a model to study and to provide a room for the manual account receivable system of Anammco Ltd,Emene Enugu and implement it to suit the formal system as well as the new computerized system. If the manual system is computerized, then the activity in the company cacludes the following:

1.           Easy accessibility and manipulation

2.           Easy input, retrieval, deletion and storage.

3.           Ability to update the system.

Account receivable also is being studied to apply the new computer programs into accounting business. Receivable are written promises of the markers to a certain sum amount of money on a specified future date and many ways crises from sales. Account receivable is also called trade account, which is one of the accounting systems existing under account. This deals with the transaction that involved customers buying goods and services to be paid at a fixed date. This study enables us to know the different sub-leads under account receivable system.

1.4         SIGNIFICANCE OF THE STUDY

There are many significance to be treated in this project work but the few below would be list as most important.

1.  To notify the message, the need and the importance of computer, which would be done by educating them on how to use the computer, to solve specific problem.

2.  To bring to the awareness of the people, the need of using computer in solving problems. also by educating and illustrating to them on how the computer could be used to do job which five or more able man may not accomplish in two weeks, just in some hoarse. This in turn would help enhance productivity.

3.  To bring help accurate, effective and efficient through put in the organization.

1.5       SCOPE OF THE STUDY

The following question are necessary before we continue: what is account receivable all about?

And how is it used in computerization? From the text” account principle” by Hermason Edward Samuelson “ Is the amount of money paid to a firm, company or business transaction center to enable them carryout their business operation on transaction”.

This money is paid on the basis, which the customer purchases goods. Before this method of collection of money was done manually by hand through the account of the business organization, But due to the advent of the new technology introducing the discovery of computers, computers has come to the aid of man by helping to undertake most of the activities performed by men in the office or establishment. Computer now helps the accountant to computerized their accounting system, which could be account receivable, account payable loan etc.

  This has made it easier for the accountant to update customers account ledger, retrieve information, delete information and furnish customer with receiving information concerning their system, types of payment, accepted by the organization and also the system of the delivery of good to their customers considering the computer taking over his department, all the necessary information concerning a specific customer will now be timely concise and courtesy about all the customer that undertake the buying of the company, goods and also which the company is concerned or about their receivable from the customer.

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