CCS - FAQs on Accounting and Information Management Solutions

Frequently Asked Questions

Q: What is the difference between a formal and informal accounting system?
A: A formal accounting system is defined as one which follows 100% of the proper accounting regulations as defined by government and accounting industry professionals. It is a tool intended for use by those familiar with formal accounting procedures and policies. Many simple data entry systems, such as point of sale or order entry systems like Quickbooks, insulate the average person from accounting regulations, allowing them to do their work without considering the regulations.

Q: What is an Integrated System?
A: An Integrated System is a system that ties a company's front end operations to the back office operations with one software. Fully integrated software modules provide seamless access to all aspects of the company data from front end, financial, AP, AR, GL, cash flow, payroll, inventory, service management, job costing and sales support.

Q: Why do I need an Integrated System?
A: An Integrated System will eliminate the process of double entering information, which will then lead to a more efficient and productive company. An Integrated System can:

Eliminate double entry of data;
Eliminate errors caused by double entry;
Provide data from across the spectrum of business modules;
Provide staff with up to the minute information when working with customers or vendors;
Allow management to see the total picture of the company's status on a dashboard from any physical location.

Q: Why do I need Real Time Information?
A: Real time information is key in today's economy. With real time information a company will be able to realize and locate a problem faster. An integrated system will not only save you time in putting together the information (the "big picture"), but will give accurate information, allowing a company to resolve the problem faster or to forecast a different direction to take.

Q: Why is it smart to invest in Integrated Systems in these tough economic times?
A: One of the major justifications for changing to a higher level of accounting system is to "do more with less". This is important to a company whether it is experiencing growth or an economic downturn. In either case, they need to utilize their trained, experienced staff and resources in the most productive and effective manor.

In a tight economy, goals shift, where through no fault of our own, we are forced to make do with lower levels of revenue or margin. It is at these times that the only thing that we can accurately control is the "cost of doing business".

It is, therefore, the focus of a company to make sure that everyone utilizes the system, trusts the data that is produced, and has access to the big picture information on a daily or weekly basis so that actions can be taken while events are still fresh in our minds.