Planning and implementation must cover the layout of your accounts, control over the information going in and verification of the information coming out of the system.

It will also be necessary to produce the accounting data for entering the opening balances.

Where advanced management information is involved, such as profit and loss by departments, more detailed planning is required. Development of a system can only take place at the pace at which staff can increase their own skills. The following phases of development may be appropriate for a new start-up system:

  • Recording of prime entries (Cash Received and Paid; Sales and Purchase Invoices)
  • Bank Reconciliations and VAT Returns
  • Monthly Adjustments (e.g. Depreciation and Stock Change) producing monthly management accounts
  • Sales Invoicing Routines
  • Advanced Management Information e.g. detailed analyses of sales and departmental costs
  • Sales and Purchase Order Processing with Stock Control

Even at the first stage, the system will produce Aged Debtors and Creditors on a regular basis to enable the business to improve its cash flow.

A “set up procedures list” together with details of typical available reports follows this section.