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February 08, 2010

Comments

Business accounting

The accounting system must have a mechanism to ensure that all entries balance. Indeed,most automated accounting systems won't let you enter an out-of-balance entry-they'll just beep at you until you fix your error.

Scot Justice

I believe you are responding to my comment that controllers keep on top of the functional accounting.

Yes, automated accounting systems do beep at you when entries are out of balance, but they won't catch an entry made to the wrong expense account or an incorrect accrual to account for future tax payable.

This is why it is advantageous to have someone, such as a controller, to make sure your accounting system is functioning correctly.

accounting software for small business

A controllers, in my opinion must be eligible to use an accounting software, nowadays, a system must be used to prevent leakage of data and for security and reliability of the company

-kim

Scot Justice

Kim, Of course, controllers have to know the system they manage. Every company I've been CFO of that had a controller, the controller was the person who had the hands-on management of the accounting system.

small business accounting

Scot, I agree to you that all companies do have their controllers that manages their system. And they would probably make sure that the their controllers do have enough knowledge on what they are ought to do.

Thanks for the share.
More power.

Jane

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