Cashiering and Accounts Receivable and Payable System with Decision Support

Cashiering and Accounts Receivable and Payable System with Decision Support

Cashiering and Accounts Receivable and Payable System with Decision Support

Introduction

The proposed Cashiering and Accounts Receivable and Payable System with Decision Support will allow to see the financial position of the school, can deal in keeping records in times of fire and theft through back-up. In times of auditing, there is no more hassle for it is updated, accurate and systematic.  Also, it can easily manage customers’ payment transaction.

The use of technology in our modern world gives more convenience to the user and contributes a great help such as speed and accuracy of every transactions, reduces time and effort.

The implementation of Cashiering and Accounts Receivable and Payable System with Decision Support will give a great help not only for the cashiering section but also for the management. For it gives reports for the current and presents income of the school. It can generates reports for the Accounts receivable and Payable of the students.

Project Purpose and Description

Cashiering and Accounts Receivable and Payable System with Decision Support provides functions that monitor student’s account payables, school’s account receivable and school income. This system also integrates model-drive DSS which emphasizes access to and manipulation of statistical financial, optimization or simulation model. Model-driven Decision Support System use data and parameters provided by users to assist decision makers in analyzing situation; they are not necessarily data intensive.

Specifically, the system enables to manage financial obligations of the student. It enables to monitor the cash flow from the payments of the students. It will help the management’s decision making in terms of the following: comparative analysis for the previous and current income gathered from the students. This can make the management decide and take appropriate actions in order to implement solutions for the coming years on how to effectively collect payments from the students.

Moreover, since this project uses model-driven, it enables to display graphical report s and information of the current and previous collected amounts so that it would be to compare and analyze values and properly design solutions.

Objectives

General

The main objective of this study is to design, develop and implement the Cashiering and Accounts Receivable and Payable System with Decision Support that will replace the manual process.

Specific objectives are the following:

  • To speed-up the cashiering services.
  • Keep financial records in an efficient way and in one storage area.
  • Generate financial statement easily.
  • Automatically tallies amounts and provides reporting functions
  • Back-up records and keep them in a safe place in case of fire and theft.
  • Give financial status of the school and the income of the school acquired from the students.
  • Identify the collectible accounts from the student.

DSS functions also aim to

  • Auto generates graphical reports of the current and previous income of the school.
  • Forecast yearly income of the school.

Scope and Limitation

Cashiering and Accounts Receivable and Payable System with Decision Support can provide:

  • Establishment and maintenance of accountability for cash items.
  • Accurate and timely recordkeeping of cash receipts to the general ledger.
  • Procedures for receipting and storing cash.
  • Accurate statement of accounts for parents.
  • Financial position of the school in graphical form.
  • Less time-consuming to access student files during payment period.
  • Comparative reports of the current and previous income.
  • Easiness of using and managing the accounts of the students.
  • Protection to the confidentiality of the student’s account records.

The system cannot support in:

  • Providing financial status of income report coming from the other sources of the school.
  • Paying of account using check or credit cards.

Review of Related Literature

SATS e-Cashiering System

According to this site http://www.ukessays.co.uk/essays/strategic-management/sats-e-cashiering-system.php . December 23,2013-11:00am

E-Cashiering helps in automating the cashiering and reconciliation system at SATS. The automation is critical to avoid losses due to misuse of claims procedures and minimize reconciliation related losses. There is a need to improve the documentation process and to reduce the reliance on hand written customer collection documents (such as Excess Baggage Forms / cargo payment collection documents). This calls to introduce a server based POS (Point-of-Sale) system to cater for future ad-hoc collections such as functions, gatherings and generic stations for various new customers on a flexible web based platform for SATS Group and associate businesses (collectively “SATS”) to which this platform will be developed for use.

The Cashiering System for SATS looks at the three main functionalities Collections, POS and Claims. The above stated all the systems are manual in nature at present. SATS has operations in the four passenger terminals; they have placed several cashiers who handle the daily claims and payments of cash. Currently, each cashier would receive the claims and provide the receipts manually.

SATS aims to automate all these processes with the help of a centralized Cashiering System. The E Cashier software would help in automating the cashiering and reconciliation system at SATS. There is a need to improve the documentation process and to reduce the reliance on hand written customer collection documents (such as Excess Baggage Forms / cargo payment collection documents).Also, automation would be critical to avoid losses due to misappropriate of claims procedures and minimize any reconciliation related losses. Introduce a server based POS (Point-of-Sale) system. To cater for ad-hoc collections for various new customers on a flexible web based platform for SATS Group and associate businesses (collectively “SATS”) to which this platform will be developed for use.

Review of Related Study

Cashiering, California State University, Fresno

According to the authors Henry Mendoza, Chair Melinda Guzman, Vice Chair Margaret Fortune Steven M. Glazer William Hauck Hsing Kung Linda Lang.(2009)

Cashiering audits involve the assessment of the adequacy of the systems of internal accounting and administrative control surrounding cash receipts, cash handling, change funds, and purchase funds at main and satellite cashiering facilities. The main cashier at each campus handles the majority of cash transactions for the campus. The main cashier’s chief responsibility is the collection of registration and other student fees using mainly cash, credit cards, debit cards, cashier’s checks, money orders, and personal checks. Other common transactions at the main cashier’s office include the collection of payments for parking permits, petty cash reimbursements, disbursements of employee checks, and all other types of payment service needs, as well as deposits, recordkeeping, and the safeguarding of cash.

Satellite cashiering comprises the collection of cash at campus and off-site locations other than the main cashier. Examples of these locations include athletics, public safety, parking and transportation, student unions, student health centers, housing, reprographics, libraries, and the performing arts. Receipts in the form of cash, checks, and credit cards may be accepted at these locations for the sale of tickets and merchandise, as well as for the collection of various fees. Change and purchase funds that provide cash may also be held at these locations for small dollar purchases or services.

http://www.calstate.edu/audit/audit_reports/cashiering/2011/1139CashieringFresno.pdf

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