Tag Archives | Accounting System

What Have You Done to Prepare for Year-End?

If your accounting system is current and reconciled monthly, you are already on the right track! If not, now is the time to research and resolve discrepancies so the year can be closed with confidence. Tips and Reminders Reconciliations & Year-End Processing Establish a schedule and allocate responsibilities. Follow up on and resolve outstanding issues. […]

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Is Your Accounting System Adequate and Acceptable?

DoD first published the Business Systems Rule (BSR) as an interim rule in May 2011. The Rule provides for partial withholding of payments on CAS-covered contracts when any one of a contractor’s business systems is determined to have a significant deficiency. Certainly that could be a problem, but the real issue with the BSR came […]

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Accounting System versus ERP System

What is the difference between an accounting system and an Enterprise Resource Planning System (ERP)? And, how do you determine which one is right for your company? Traditionally, accounting systems record historical data – information that has already happened and is useful for comparative reporting, budgeting, planning, etc. On the other hand, ERPs, while containing […]

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