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Tag: Afaqy Specialized Programs
Like any other aspect of business, the sales process has changed dramatically over the years and the way customers buy has completely shifted. Customers no longer wait for salespeople to guide them through the buying process, and research indicates that about...
Inventory represents a large part of the company’s assets, as it represents a ratio of 30:40 % of the company’s total investments, and sometimes more, and because inventory also has a significant impact on 1- The turnover “sales volume” according to the company’s policy...
Electronic archiving is “the process of using modern information technologies, physical and logical, including computers and software, and communication technologies and their accessories, to carry out all the tasks that were performed by traditional archiving and more, in order to increase control over documents...
There are five main objectives of accounting: 1. Determining the result of the business of the economic unit of profit or loss for a certain period of time. 2. Determining the financial position in this period. 3. Providing the data and information necessary for planning and drawing policies for the coming period or periods. 4. Providing data. ..
Definition of the debt reconstruction report The debt reconstruction report is a report that is prepared periodically to monitor the account of customers or suppliers. It shows the accounts receivable balances of customers or suppliers with the classification of these receivables according to the accounting period to which they belong. A reconstruction report can be made...
I mean, what cost centers? Do they differ from one company to another or from one activity to another? Is there an ideal way to code and create a cost center directory for any company? And are these methods different if you use the integrated accounting program Afaky ERP in your company? Through the article...
The opening balance for the current fiscal year represents the closing balance for the previous fiscal year. The opening balance includes the balance sheet accounts (permanent accounts) without the income statement accounts (temporary accounts) that are closed annually in the profit and loss account and this account appears in...
It is a group of main and sub-accounts in the general ledger and trial balance, which are used to record all financial transactions within the company. Levels of classification of accounts in the accounts tree in the integrated accounting ERP system Afaky...
The statement of financial position: - It is a list that expresses the assets (company property) and liabilities (obligations on the company) as well as the property rights at a specific moment so we write the statement of the financial position. Or it is a statement that shows all account balances of assets, liabilities and...
First, the average cost method. This method is based in Afaky accounting program on one price for the stock. This price changes when any new quantities are received in the stores, where the average cost that expresses the price of materials is extracted and this average is calculated by the following equation...
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