Your client, Farm Branch Rentals has requested to have a meeting with you to discuss the process of converting from a manual to a computerized accounting system (QuickBooks). Farm Branch Rentals has reviewed the material that you have given to them with the comparison of the different types of software that are available and have decided to go with QuickBooks. They are hesitant and want to know if this change would be worth the effort.
For full credit prepare a 500 - 750 word memo in which you outline the following topics:
- What are the major steps in converting from a manual to a computerized accounting system (QuickBooks)?
- What documents and information will you need to convert to the computerized system?
- What are the Internal Controls that need to be implemented.
- Explain in detail the following:
- how to set up the new company within the system
- entering chart accounts
- entering balances for the trial balance
- reports used to reveal the above requested information
- What are your personal thoughts on the software and the affect it will have on accounting within the company?