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Chapter 7. Accounting Information Systems. Components of Accounting Systems. C1. Increasingly, source documents are electronic files creating a “paperless” system. Hardware Software Professional Judgment. Keyboards Scanners Modems Bar-Code Reader. Components of Accounting Systems. C1.

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Chapter 7

Chapter 7

Accounting Information Systems


Components of accounting systems
Components of Accounting Systems

C1

Increasingly, source documents are electronic files creating a “paperless” system.

  • Hardware

  • Software

  • Professional Judgment

  • Keyboards

  • Scanners

  • Modems

  • Bar-Code Reader


Components of accounting systems1
Components of Accounting Systems

C1

  • Printer

  • Monitor

  • Projectors

  • Web communications

  • CD/DVD

  • Hard Drive

  • Tape

  • Paper Document



Subsidiary ledgers
Subsidiary Ledgers

C3

Subsidiary ledgers are a listing of individual accounts with common characteristics.


Accounts receivable ledger
Accounts Receivable Ledger

C3

After all items are posted, the balance in the accounts receivable controlling account is equal to the sum of the balances in the accounts receivable subsidiary ledger.



Proving the ledgers
Proving the Ledgers

P2

A schedule of accounts receivable lists each customer and the balance owed.

The balance of the Accounts Receivable controlling account in the general ledger should equal the accounts in the accounts receivable subsidiary ledger.


Sales taxes
Sales Taxes

P1

Governmental agencies often require sellers to collect sales taxes from customers and to periodically send these taxes to the appropriate agency.


Accounting information systems

P1

Cash Receipts Types

Cash from credit customers

Cash from cash sales

Cash from other sources




Proving the ledger
Proving the Ledger

P2

A schedule of accounts payable lists each supplier and the balance owed to them.

The balance of the Accounts Payable controlling account in the general ledger should equal the accounts in the accounts payable subsidiary ledger.



General journal transactions
General Journal Transactions

P1

Adjusting Entries

Closing

Entries

Purchase Returns & Allowances

Sales Returns & Allowances