Accounting System can be worked on through four basic stages

Business Statement

The accounting system of any organization is responsible for the full management of the financial data of this organization through the backbone of the financial system. General Ledger GLmodule which is collected from the various Journals inside the system such as the daily sales - purchases - wages and salaries ......... taking into consideration that the majority of the entries registered within the system were included automatically from different documents within it, for example, the sales invoice, which automatically generates the sales entry and the cost of goods sold entry. Accounting System can be worked on through four basic stages. the accounting system can be worked on through four basic stages: First Stage –Basic Settings Second Stage –Operations took place through the documentary cycle Third Stage -Extracting of the analytical and operational reports Forth Stage -Closing Entries (monthly closing entry –annual closing entry)

Solution 

First Stage –Basic Settings This stage is considered one of the most important stages, not only within the accounting system, but inside the CodeZone system as a whole, where through this stage the system is initialized and basic settings are made so that it is ready to start the second stage of the documentary cycle as this stage includes the work of a set of settings that represents the backbone of the accounting system in total, such as completing the preparation of the chart of accounts – Cost Centers Tree , in addition to adding the opening balances of the system. Second Stage –Operations took place through the documentary cycle This stage consists of entering and recording the accounting and financial operations from the daily record and various financial documents issued by the establishment through its exercise of its daily financial operations. These financial operations consists of a set of documents issued by the financial department within the organization as well as the accounting procedures related to entering and recording of these documents on the system, from which a huge amount of basic and analytical reports that help in decision-making are extracted. Third Stage -Extracting of the analytical and operational reports Where the results of the work are reviewed on the system in a way that serves the different organizational levels within the organization where there are analytical reports dedicated to senior management and other dedicated to the chief financial officer while there are other reports that serve the level of accountants such as the account statement report -the trial balance and other important reports. Forth Stage -Closing Entries (monthly closing entry –annual closing entry) It is an important stage in terms of protecting data and information extracted from the system where once the financial period is closed, either monthly or yearly, the system prohibits the amendment of any data during this period on the one hand and on the other hand the financial statements for the selected period can be extracted once the closure took place.