Cost Accounting Software

Posts Tagged ‘Sales’

Accounting for inventory sales, sales returns, allowances, and discounts. Classified multi-step income statement. Part II of two parts.

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Huntington Copper client discusses how Huntington Copper Business Advisors worked to increase sales and control cost management

www.fired.tv This week’s job tip is after the interview is over, send a sales letter. You have often heard that after an interview you should send a thank you letter. A sales letter is a thank you letter on steroids. They are 25% thank you and 75% reinforcing 2-3 traits about yourself as to why you are qualified for the position. For example, Mr. Jones I really appreciate the opportunity to interview with your team at ABC Company (the 25% thank you part). When I am hired (affirmative and positive statement) , I will make an immediate contribution from day one because: 1) I have four years of cost accounting background at my previous employer 2) I have handled 14 projects that came in on time and $500000 under budget and 3) I brought in three new customers for my previous employer that resulted in $1500000 in new business (the 75% reinforcing 2-3 traits). Obviously, you need to select traits that are appropriate from your background for the job at hand, but the key is to not only thank the employer for their time, but also continue selling why you are a good fit for their needs. www.fired.tv

A Bid Management tool to assist Sales in arriving at their preferred sales price taking into account all cost associated with project expenditures, cost of risk, liabilities, contingencies, inflation charge, and other user-defined provisions.
Bid Management Tool for Sales and Account Managers

Sales order processing software manages the system concerned with the sales of stock as well as the non-stock items. The software enables its users to view, modify, print or delete all transactions up to the time till the goods are marked and dispatched. At this point, stock control and job costing is also updated in real time. The sales order software creates orders that are detailed or summarized using the stock or non-stock items and plain text lines. It also includes automatic numbering, descriptions and discounts. These details are so well maintained by the software that orders can be searched by date, customer or key-word search. Actually the sales order processing software automatically creates the sales invoice once an order is confirmed and the system then posts the invoice transaction in the sales ledger of the customer’s account to await payment.

The sales order processing software also maintains reports regarding the nominal summary report, outstanding sales report, order transaction analysis and dispatched goods. All these reports are for the convenience of the management. The software fulfills all the needs of businesses in this fast-paced civilization. It consists of built-in status report, self-audit and most importantly, automated data recovery tool if in any case the hardware fails or load-shedding occurs.

Apart from the sales order processing software, a company that keeps pace with the growing business scenario should have other tools and efficient software also. One such essential and efficient software is the sales accounting software. All the records regarding production, marketing, sales and delivery of goods should be preserved by a company and the sales accounting software is well-known for its functionalities. It can manage multi-company, multi-location and multi-currency order processing, inventory and configuration of documents, invoicing, letters, sales tax etc. The sales accounting software also maintains the real time stock levels, updates the company with order ledger, sales purchase record and income and expenses record.

Backers say sales tax cut to be on ballot
Voters in November will get the chance to slash the state sales tax from 6.25 percent to 3 percent, according to advocates who say they submitted more than enough petition signatures yesterday to force the item onto the ballot. Petition – Sales tax – Accounting – Tax – United States

Read more on Boston Globe

It is a natural phenomenon for small business to be deeply involved in the particular skills and operations of the business. A fundamental issue that many small businesses overlook is that the particular industry in which they work and their personal skills are just tools of the trade not the trade of business itself. That trade of business is to produce a satisfactory bottom line.

While all business keeps financial records and many use accounting software the serious benefits of producing the accounts has a tendency to be restricted to accounting for tax purposes. The most useful function of a good bookkeeping system is however to use the financial information to generate higher levels of profitability.

The first step is to acquire and adopt an accounting software package suitable for the skills and knowledge of the small business. The second essential step is to produce a regular monthly income and expenses statement, usually called a profit and loss account.

Any individual monthly profit and loss account is of useful by limited value as a financial tool. Several consecutive monthly financial accounts can be indicative of where action can be taken to use the bookkeeping tool as a tool for accounting for profit.

Having produced a set of monthly accounts the next stage is to simply sit back and look at the numbers. The financial numbers tell the story of how the business has performed financially and with an intimate knowledge of how the figures came about the small business owner is perfectly placed to consider all potential options.

Sales turnover is a critical area to be considered. The historical sales income should be viewed in three separate modes being sales volume, sales prices and marginal profitability, the most critical and important of which is likely to be marginal profitability.

It is useful to stand back from the numbers and consider how the sales volume was achieved, what the driving forces where to achieve that level and what additional promotion can be done to increase sales volume even higher. Thinking about how the sales volume was obtained is the basis for determining how even higher levels can be produced in succeeding months.

Selling prices are often driven by market forces and product costs. An important area to consider is whether the sales prices obtained where the maximum prices obtainable at the same volume. Other considerations would be to consider the effect of increasing sales prices which would increase profitability if the same volume is maintained and even the effect of reducing sales prices if the volume of business increases to produce a higher level of gross profit.

Businesses in niche markets can charge a high selling price for the products or services without affecting the demand for the goods. On the other side of the coin the supermarket approach could be adopted by generating high volumes of sales from promoting the products at the lowest available prices.

The most critical area to be considered is the marginal profit from different products or services. The marginal profit is the gross profit which is the difference between the net selling price and the variable cost of that business area.

A lot of time can be spent working in the wrong direction, By identifying the most profitable items compared with the time and effort involved the small business can become more financially efficient by diverting more effort to those areas producing the highest financial returns.

The essential tool to this study is to maintain accounting records on a regular basis and produce a monthly profit and loss account. Periodically take a step back and consider the direction, future and opportunities available based on historical performance and the changes required to positively influence the bottom line, using and viewing the accounting software as a business tool. That tool is accounting for profit.

Objective
Seeking a position in which I can use my work experience, focused education, analytical ability, communication
Skills, and strong work ethic.

Skills
Financial Ratio AnalysisFinancial Report CreationSpreadsheet Usage
Oral/Written PresentationsMulti-Tasking ProjectsSpecial Projects
Employee TrainingPersonnel SupervisionSales Skills
Clear CommunicationBudget Cost ControlsSoftware Knowledge
Problem Solving AbilityInterpersonal CommunicationAttention to Detail

Experience
2006-Present Empire LendingWest Covina, CA
Account Executive
* Analyzed borrowers’ repayment ability, degree of leverage, and collateral strength using financial ratios.
* Supervised the underwriting quality and regulatory compliance of an aggressively growing loan pipeline.
* Managed multiple projects simultaneously, achieving objectives under time and resource constraints.
* Participated in a variety of real estate-related committees which focused on market and industry trends.
* Trained, reviewed, mentored, and supervised a team of new sales staff and sales support personnel.
* Prospected, marketed, and closed mortgage loans while assuring accuracy and client confidentiality.
* Successfully built a referral network of real estate brokers, attorneys, builders, and accountants.
* Pro-actively contacted existing clients to determine relationship strength and retain future business.

Education/Training
* Graduate, Citrus Community College (Glendora, CA), AS, Business Studies, 6/07.
* Familiar with MS Word, Excel, PowerPoint, Outlook, and Internet.
* Graduate, Bonita High School (La Verne, CA), College Prep Focus, 6/05

Civic
* Volunteer, Various Community and School Activities

Client references available upon request.

Ken Boyd, owner of St. Louis Test Preparation (www.stltest.net) presents part nine of his course on Understanding Cost Accounting. Boyd points out that students can have success with Cost Accounting concepts by making connections to actual examples from business. As a former CPA, College Accounting professor and Auditor, Ken has a wealth of experience to bring to the subject.