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Welcome to AccountingLive.biz
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Accountinglive.biz
is an “Accounting service” with domain name, cloud Accounting
software and Web Server. The
cloud server is located in the Accounting professional’s office and
is connected to the Internet with a fast communication line.
The cloud Accounting software includes
all basic Accounting functions:
G/L G/J A/P A/R & Inventory Management. I addition the
package includes Time and Attendance, Payroll, Production Management
with Bill of Material Requirements Planning work Orders and Fixed
Asset management.
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The
Accounting modules support both cash and accrual accounting. The Accounting modules adhere
to GAAP and is simplified to be intuitive to a user who is familiar
with the basic Accounting concepts as (Assets + Liabilities = Equity)
and double entry Accounting, Journal and General Ledger entries as well
as Financial Statements. The
structure of the program is simplified based on Accounting 101 for
intuitive use. Refer to Figure #1 bellow for a visual explanation of
the basic functions. Detailed explanation of every function in provide
in the help section of the system. The Main Menu provided is a
restaurant like menu for the user to select the function needed. To
minimize the overwhelming impression of the many menu choices a higher
level menu is provided based on a typical transaction flow. This
Navigating menu is based on the direction of the Accounting Processes
from purchasing inventory, account for the liability selling products
or and value to them before selling them to customers. The Purchasing, Inventory,
Production and Sales modules are seamlessly integrated to the Company,
Tools and User manual modules. The transaction flow is based on the
intuitive concept of:
o Crate
and maintaining a Company
Name and profile and Chart of Accounts.
o Create
a PO to purchase products from Suppliers.
o Receive
products according to the PO with vendor Bill. Upon receiving the
ordered products the system;
o Adds
them to Inventory on hand.
o Creates
a Liability entry in the Accounts Payable General Leger account for the
Balance Sheet. The system includes standard accounting modules to;
o Complete
a Sale of Inventory Items and Services to Walk in Customers or Clients,
o Automatically
creates a Sales Order/Invoice for the customer; to
o Remove
the Inventory from on hand and add it to customer invoice while
automatically;
o Creates
an Accounts Receivable asset entry in the Balance Sheet and
o Adding
the sale and cost of goods sold transactions for the product sold to
the General Ledger for the Financial Statement.
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The system
provides for easy receipt of customer payments by updating Accounts
receivable and the Cash on hand or Cash in Bank Accounts.
The
system also includes a Production Management module with Bill of
Material and Work Station Cost Center to add materials and labor on
each station to produce a build it to a Finished Product for sale to a
Customer. The system supports multiple customer accounts and
if Access Data base is used the system provides for
downloading of the data for local safe keeping and uploading to the
cloud when and if needed.
The demo account includes a typical
Chart of Accounts that you can change to your specific
likes. If you are not an experienced Accountant
you are encouraged to limit you changes to Account Names but not
Account Numbers. Detailed help (by Accounting and Production
Management module) is provided in the help section of the program.
To
enter to the cloud based system for a test run, click here and enter simcomdemo in the ID box and password in password
box.
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