Business Improvement : IT System with Financial Error

The Basic:
01. Bank Reconciliation must tally with Bank Statement monthly.
02. Inter-Company or Director Advances or Repayment
      - Define reasons for advance / repayment
03. Expenses in Categories, Finance, Admin, Operating, and etc..
      - Calculate Hire Purchase Interest
      - Depreciation
      - EPF / Socso / PCB
04. Monthly Sales & Monthly Purchase Comparison
05. Cash in Hand monthly balances.
06. Sales Margin, Stock Valuation monthly.
07. Tax computation of losses b/f

08. Tax capital allowance b/f must be known.
09. Prepare for the budget & forecast,

10. Terms of Payment categories.
11. Cash Flow Planning & Directions of the cash flow.

 

Basic Indicators:


01. When sales is high, stock is low or vise versa.
02. When purchase is high, sales low or vise versa.
03. When purchase is high, stock is low or vise versa.
04. When expenses is high, sales low or vise versa.
05. When direct cost is put under expenses.
06. When actual stock value put in, the margin does not tally with product margin.
07. When actual product margin put in, the stock value not tally with physical.
08. When net assets turn to net liabilities or vise versa.
09. When directors increase their salary for economy downtrend.
10. When losses is reported for more than 2 years.
11. When such external huge fund flow in or flow out within companies.
12. When stock in hand low as compared to owing to creditors.
13. When trade creditors more than trade debtors.
14. When sales invoice / cash bill price not checked or not promptly determined.
15. When owing to a top trade creditor with the stock in hand for this trade creditor is less.
16. When a business has a problem, financial reports the error.
17. When changes of top management staff.
18. When personal loan is involved in the companies.

 

Cash Flow Directions:
New designed of cash flow directions for your own personal usage.

* Click to enlarge