Riorrdan Manufacturing Business Research Project

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Purpose

The Riordan Industries corporate office has been performing a research project to consolidate their financial processes and production software packages. Not one of the three offices or corporate use the same system, which makes data collection, verification, and reporting difficult at best. They need to have a uniform business system throughout all the facilities, as well as procedures implemented in order to attain this goal of seamless data collection they are hoping to achieve. The customer will need to upgrade all their hardware in addition to their current software packages.

General Ledger

The customer currently is using several financial packages at each of its three facilities. The San Jose facility, the …show more content…
As each invoice or purchase order is entered into the system and posted, the appropriate entries would automatically be generated by the system, so that the data entry clerk would not have to make any additional journal entries at the end of the month. Everything in this system would be done in batches, enabling multiple users to use the system at the same time and not be responsible for entering or posting everything. Users at each of the locations could enter invoices into the system and it would all interface directly into the main system housed at the corporate office, decreasing the mass amounts of data entry currently being done.
The accounts receivable could be done directly through a cash receipts module contained within the program. Cash receipts could be entered into the system, and track the individual payments received and deposits in the system. This would greatly improve their reporting capabilities by acquiring the ability to run real time reports on deposits, outstanding balances, payments received at any given time throughout the month.
Integrating EDI to all the company divisions as well as in corporate would be beneficial to the efficiency of the billing and payment processing. Not only would this save time in data entry, but it has proved to keep accounts more current and have less outstanding and overdue payments. This can save the company money buy providing electronic bills to the customers rather than spending money on costly
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