September 3, 2012
Dr. Marcia Reid
Kudler Fine Foods - Accounting System
The purpose of this paper is to describe the value of a new accounting system for Kudler Fine Foods. The author will cover the key features, core technology, benefits, and cost of the proposed system. In businesses today, it is imperative that the accounting system be tied into every aspect of a business and integrated within all of the information systems in use. Therefore, before any system is updated or changed, the accounting system must be considered and analyzed for compatibility and integration. Kudler Fine Foods hired a consulting firm to “assist in the selection and installation of a comprehensive Retail Enterprise Management System (REMS)”, according to the Kudler Fine Foods intranet. REMS is a modular system which contains a General Ledger, Accounts Payable, Point of Sale, Bank Reconciliation, and Asset Management and Accounting modules. To save money, the Asset Management and Accounting module was not purchased since the stores are all on long term leases and the remaining assets can be “controlled and amortized” by using spreadsheets. The General Ledger is the main module of the software and keeps track of all accounts, transaction details from accounts payable and receivable, payroll and all other departments of Kudler Fine Foods. The General Ledger also keeps track of Non-Financial accounts such as “department sales and inventory; department and store headcount”. According to the description on the intranet site, the General Ledger module provides Financial Reporting such as Balance Sheet, Income Statement, Cash Flow, and Trend Analysis with period over period, store comparisons, and department comparisons. This means that this module provides everything Kudler Fine Foods needs to produce all of the necessary financial reports and even budget reports for each department, store, region, or for the entire...