Essay about Week 3 Accounting System Kudler Foods

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Kudler Accounting System

Kudler Accounting System
Kudler Fine Foods is a local upscale specialty food store located in San Diego’s metropolitan area. The company has expanded to three other locations La Jolla, Del Mar and Encinitas. Each of their locations is has about 8,000 square feet of retail space. Each store includes the following departments:
Fresh Bakery and Pastry
Fresh Produce
Fresh Meat and Seafood
Condiments and Packages Foods
Cheese’s and Specialty Products
Kudler’s business plan includes funds in excess of $50,000to hire a consulting firm to assist in the selection and deployment of Retail Enterprise Management System (“REMS”). After a careful analysis was done of the stores need a modular and scalable systems was pick and installed in two of the Kudler locations. The new Retail Enterprise Management System is composed of various modules that will help keep track of the company’s sales and expenses. Users of the new system will also have the capability of pulling sales reports, and access bank accounts via the Internet.
General Ledger Module The general ledger is a ledger that contains all financial accounts of a business, in addition to containing offsetting credit and debit accounts also known as the Chart of Accounts. The general ledger module will provide user with financial reports such as balance sheets, income statements, cash flow statements, and comparison reports for both departments and stores. The general ledger module will also allows users of the system to view previous year reports and run comparisons with current year reports. Owners of the business as well as other user will have the capability of view budget report for the various departments. There will be few requirements for manual entry of data since the system will be linked to POS system and the business bank accounts. All financial information will be gathered and monitored through the new REMS.
Accounts Payable The accounts payable module will consist of the various vendor codes and master files. This module will also be linked to the various accounts, so that all account activity will be automatically updated and monitored from the accounts payable module. The purchase order module allows for vendor orders to post directly to the AP module. Some of the locations will periodically make cash purchases of produce that is in season. In the past it has been difficult for the store to handle this type of purchases, now the finance and accounting department will give managers a check so that they may cash the item at the local branch where the store maintains their bank accounts. The Manager will then be able to pay for their produce items purchased in cash. The records for such transactions will then be forwarded to the accounting and financing department where then they will be entered manually into the system.
POS Module The POS system will capture and report all sales in details, UPC, cost, price, time, station, cashier, quantity, and even store. From the REMS users of the system will be able to pull reports from the POS module, these reports will give managers and the owners of the company of when their peak times are. This will be of great help to the manager when it comes to scheduling of employees. They will be able to utilize this so that they may schedule extra help at their peak hours. The POS module will supply the other modules with required…