Book Yoda. Business & Investing.

I am in the process of switching our company's accounting system from Platinum to Peachtree. I can't import the data because it's inaccurate. I've already set up the chart of accounts, customers, vendors, and inventory items for 2 companies. What is the best way to put actual data in going back at least one year? Should I input each invoice, item by item, etc? The reason this is so difficult is prior accountant kept horribly poor records. Much of the information may have to be pieced together from bank statements. HELP!

Are you just wanting the detail from 2008 or 2007 too? Either way, keep the level of detail to a minimum. Is there inventory to deal with? Personally, I'd key in the Balance Sheet figures only from 2007. When you do cash you'll have to make sure to separate the outstanding checks and deposits. Then enter 2008 invoices, checks, receipts, deposits etc. I've never heard of Platinum, but Peachtree isn't very forgiving nor very user friendly. You can only have two years open at a time. Given this, would it be better to wait and start Peachtree in 2009? Do you really need one year worth of detail?

2008-10-17 13:40:22 by mymax

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i have studied a master of financial management in india and come to swiss.i want to work in an office as an accountant or in some bank...i have no idea about what accounting system is used here and which accounting software is commonly used.i invite suggestion/advices if you have any information regarding business in swiss.

Here the most common accounting standards:

Swiss Commercial law (Minimum requirements)
Swiss GAP Fer
IAS
US Gaps

The accounting software highly varies from industry to industry.
Often in use are SAP and Abacus. Large international companies often use their own developments.

It will be difficult for an Indian to find a job as an account in Switzerland. Companies will prefer candidates who are more familiar with local laws, standards and culture.

To find a job as a professional in a bank you need to be an expert in your field with special and rare skills. Just a master in financial management won't be good enough as the Swiss have numbers of financial professionals themselves.

There might be an agreement for the exchange of young professionals between India and Switzerland. Under such an agreement you would get a limited work permit for Switzerland. This would allow you to search for junior jobs in Switzerland. For example an internship. I suggest you to contact to Swiss embassy in India to find out about such an agreement.

Good luck

2007-02-18 13:16:33 by sonofmoon_star

1) How does financial information reported in accounting system facilitate decision making?
(2) How are the records related to each other in general journal& general ledger? in control account & subsidiary accounts?

1)Financial information is recorded in various financial statements. This information can be compared to past performance or used to estimate future performance. You can compare many things such as debt to equity. All FS are based on the same rules so that FS's from one company can be compared to others in the same industry. All this information can be gathered and used to make toward more informed decision making.
2) A general journal is a record of individual journal entries. These entries move amounts from one account to another. A general ledger lists each account starting balance for a period, each individual transaction, and an ending balance. A control ledger is the main ledger such as Accounts Receivable. The subsidiary accounts list specific transactions such as A/R ledger debit $300, income credit $300. Subsidiary Ledger for A/R Mrs. Jones owes $150, Mr. Johnson $50, Miss Abernathy $100.

If you can't figure this out--you are going to flunk.

2007-01-13 22:43:50 by nurashayi

or will there always be a need for different accounting systems in order to suit the unique needs of a company?

Different companies need different software! Even the best selling accounting software Quickbooks offers different versions for different companies (sales, manufacturing, real-estate, not for profit, accounting, etc....).

2007-05-01 08:14:42 by Carmen

Do KPMG, Price Waterhouse Cooper and Ernst & Young have different type of accounting?

When they do company audit or write financial report what approach do they use?

There are only, which is either manual or computerized accounting systems. Auditors such as KPMG, Price waterhouse follows the Standards on International Auditing in writing the financial statements.

2007-11-07 02:29:59 by Perak Man