Video Library - Managing and Activating Specialized Systems
Accounting in Specialized Establishments (Part One Accounting in Hospitals)
Cost accounting in hospitals
The importance of applying the cost system in hospitals
The importance of applying the cost system in hospitals
The role of the planning budgets in achieving corporate financial goals
Before making their financing decisions, finance departments are concerned with several main matters, including preliminary studies on the company’s planning budgets, capital decisions and project evaluation. The most important of these points is the company’s future planning, or what is known as the discretionary budget.
To design the planning budget, a set of goals that we want to achieve is first determined, then the integrated coordination between the technical, administrative and financial departments of the company is done with directing them to implement the plan, after which a mechanism is prepared for implementation of the budget plan.
The result of the actual implementation of the budget is measured aand compared with the estimated budget to detect deviations and solve them.
Planning budgets are divided into three main types, including the operating budget, the investment budget, and the cash budget.
The operating budget is tables or digital lists to estimate the activities that will take place in the company, including sales, costs, marketing, administrative costs, the estimated income statement, and the financial position. While the investment budget is related to long-term plans, and the cash budget is related to the expected cash payments and receipts, and what is expected to result.
Before setting budget plans, you should consider several components such as the involvement of all departments in drawing up the plan according to their capabilities for determining the production capacity, understanding the goods in stores, the availability of transport vehicles and sales representatives in the company.
It also important to define the responsibilities of each department and prepare the initial estimates for the plan based on a detailed and accurate study using analytical tools on the needs of the target markets.
It is critical to prepar the periodic reports to follow up the budget implementation processes, with an integrated accounting system that can accurately measure the success or failure of the budget.
The planning budget has many main functions such as the future planning and coordinating the company’s activities to implement the budget. The budget works on communication between the various departments and levels within the company, motivating employees and monitoring and following up the deviations, their causes and the ways to treat them.
Planning budgets have many advantages, such as providing a tool for planning and coordinating the company’s activities, defining its responsibilities and delegating authorities to facilitate accountability for the fault. The budget also enables measuring the efficiency of the company’s performance and helps its stability for a more extended period.
Planning budgets face many difficulties that constitute an obstacle to their application, such as the culture and objectives of management. The wrong methods of implementation and coordination may also affect planning budgets, such as the absence of a project manager or the organisational structure for employees and the lack of a robust accounting system for the company.
Good planning is one of the secrets of companies’ success and optimal business growth. Every company that aspires to achieve tangible success needs to prepare planning budgets with precision and professionalism, relying on a skilled team of distinguished accounting cadres.
The Egyptian Certified Public Accountants company is a pioneer in legal accounting in Egypt and the Middle East. It provides the best accounting program for the art of preparing planning budgets, equipped with the best accounting features to perform many planning tasks suitable for managing the budgets of large and medium companies and facilitating the control of all company operations and implementation of its desired goals.
General Accounts Program from ECPA for a balanced and fruitful accounting system
Go to the main page to make the account module in the Capital Solution ERP program. The main menu will appear with several options such as documents, files, settlements, cashier, investment portfolios, financial lists, settings, and others.
A chart of accounts appears, including assets, equity, liabilities, revenue, sales, costs, expenses, and intermediate accounts. If we open one of these fields, we will find the analysis of its accounts.
We add a new account. Then the program requires entering a specific code. This code is automatically available through the software system.
We write the account name in Arabic and English because the program system deals in both languages, so when you define any information in the program, you must enter it in both languages.
From the main chart of accounts, choose the “clients” then select the “local clients”. Please enter the account name in Arabic and English, then select the nature of the account and its type.
Sub account means the account that does not have analysis like customer analysis, customer names, supplier names, employee names, etc. So depending on what we do, we will choose a sub-account. Otherwise, it is the main account, linked to the names of employees and customers, according to your choice.
You can obtain all data by entering the code of one of the parties, whether an employee, a customer or a supplier. You will be able to know whether the purchase has been made or not and the credibility of all individuals.
There are many other options in the account; for example, if the individual does not have any program budget, it is unnecessary to save the data. But if he has a budget or has exceeded it, he must obtain permission and approval to keep all his data and create an expense account.
You can freely force some accounts to go through the budget and exclude others, so you are free to choose what you want according to the agreed action.
Other options include tracking the debts of customers and suppliers and preventing the follow-up of any account. This means that this account is of debit type, not credit type, etc.
You can also restrict registration to some accounts without a specific facility that allows registration. You can put an attachment to electricity bills and other essential things.
The chart of accounts is the main structure under which the rest of the items up to the accounts fall. These items include; Assets, non-current assets, fixed assets, the net worth of furniture, and other items up to the accounts.
Easily control your corporate assets with ECPA's innovative fixed asset program
The fixed asset program is an integrated management system that helps you inventory, classify and analyse all of your company’s assets. It allows you to optimise those assets and adjust their accounting operations to achieve a higher investment rate and better profitability.
The Capital ERP accounting system will provide the best fixed asset management program. You can determine the types of fixed assets and prove each asset you have. It also helps you determine the difference between fixed and current assets to avoid neglecting any asset.
From the Capital ERP, we choose the fixed asset module. A list of asset items such as files, documents, asset covenant, asset credits, trust, maintenance, and settings will be shown.
From the asset types option, a specialised page appears in which each group of the leading fixed asset types is defined, such as machinery and equipment, cars, furniture, and others.
The group name is written in Arabic and English. The life span of the assets, their value as scrap, and their condition are also recorded.
We also record the asset’s coding number, account data, and cumulative depreciation. Upon completion and clicking on the save icon, the asset will be given a unique code, and after completing the asset registration, it will appear in the list of fixed assets.
When registering a sub-fixed asset, for example, an 8-foot Sharp refrigerator, in this case, the fixed assets option is opened, showing the groups of assets from which we choose the refrigerators and then add a fixed asset.
A page appears where we add the basic information of the fixed asset, such as the name in Arabic and English, the type of the asset, the custodian and the place in which it is located.
After completing the asset registration, we add the documents for the asset, such as purchase orders for the assets. For example, suppose we want to record a purchase order for assets. In that case, we will choose the order to show us the page to add an asset purchase order, from which we specify the name of the employee requesting the purchase, the name of the asset, the required quantity, the name of the supplier and the location to which the asset will be added.
Then a price is presented to the Procurement Department, where we specify the name of the supplier, the fixed asset, the quantity, the responsible employee, etc., and the price we want, including tax.
In the end, we choose the fixed asset purchase order, where the name of the asset to be supplied and the purchase data such as quantity and the name of the supplier are chosen. We determine the total price, commission, discount and tax, as well as the life span, its scrap value, and the custodian.
About depreciation debentures, the period and devices are determined first from which the depreciation will appear, and then the depreciation value for the devices that we have specified is shown.
It is possible to get rid of the asset from the disposal debentures, where we specify the asset and the value of the asset in which it was sold, and we also specify the name of the employee who received the money.
If the disposal is done without charge due to the malfunction and the failure to fix it, leave the disposal value or employee name boxes blank. The program will automatically record a depreciation entry for the asset and transfer the asset’s value as scrap for losses.
The program provides many other options for debentures, such as addition and exclusion debentures in case the asset is significant. We want to add only part of it, excluding the other leg. The program also provides debentures to transfer the fixed asset from another location or add assets for maintenance.
The art of CRM to quickly increase the profitability of your company
Successful companies not only sell more but have mastered the skill of Customer Relationship Management. Due to the rapid advancements in technology and fierce competition between companies to engage more customers, CRM has become an essential business strategy for any entrepreneur who wants to succeed and increase profits.
CRM is platform companies use to improve customer relationships, keep the loyalty of their customers longer, and attract new customers more quickly. It allows users to easily access all the data about a customer in one place, saving time for both parties.
ERP is not just an accounting program but an integrated system containing several administrative and accounting programs that allow complete control of all aspects of the company, including customer relationship management software.
The CRM program records customer data from when a customer registers with your company, including name, address, email, etc., that lasts even after purchasing.
CRM classifies customers according to the type of products they want. Managers distribute customers between staff and sales representatives based on their speciality. Delegates are also given information about customers to have more insight when dealing with them. Delegates make feedback reports after meeting with a customer containing opinions about products or ad campaigns and which ones were interesting or attractive to them.
CRM also allows you to provide the best after-sales services, which include communicating with customers by phone or email to know their opinions, satisfaction or anger about products or services, receiving complaints and sending product announcements. This will be recorded in a particular spreadsheet within the system.
The CRM system represents a link between the company and customers on the one hand and between the company’s departments on the other. This fruitful cooperation will be very useful in improving the company’s performance and facilitating the access of the company’s products to the most significant number of customers, which will increase its profits and gain a more extensive customer base. The program also helps customers solve any problem with the product or service, which will increase their confidence.
CRM software does not serve a specific department but provides reports and information to all company departments, enabling them to achieve the highest benefit from the customer. It also helps them make more accurate and professional forecasts of purchase and sales rates expected from each customer. The ERP system also enables your company to optimise human resources. The system lets you know which employees earn more customers, thus motivating them more, helping you identify their weaknesses and strengths, and even providing suggestions to remedy weaknesses and encourage strengths through incentives and rewards.