Gul Ahmed & Co.

CHARTERED ACCOUNTANTS

INFORMATION TECHNOLOGY

Technology is an important enabler of business transformation. We bring the skills to deliver improvements in processes to assist our clients in getting value from technology investments. We bring knowledge in IT strategy, IT architecture and design, enterprise applications, sourcing, project management and IT operations management.
We implement off the shelf accounting software with the objective to automate all the business operations with the following benefits:

  • Automatic updating of members’ accounts ledger;
  • Recording of suppliers’ invoices / bills;
  • Automatic updating of suppliers’ accounts in the purchases ledger;
  • Recording of bank receipts;
  • Generation of bank reconciliation statements;
  • Making payments vouchers of suppliers and expenses payments;
  • Automatic updating of the general ledger;
  • Automatic calculation of payroll & associated entries; and
  • Generation of trail balance and financial statements (balance sheet, income and expenditure and cash flows statements).

Computerized accounting programs can provide instant reports for management, for example:

  • Aged members’ summary – a summary of members’ accounts showing overdue and prepaid amounts;
  • Budget analysis and variance analysis; and
  • Payroll analysis

When using a computerized accounting system the on computer, input screens have been designed for ease of use. The main advantage is that each transaction needs only to be inputted once, unlike a manual double entry system where two or three entries are required. The computerized ledger system is fully integrated. This means that when a business transaction is inputted on the computer it is recorded in a number of different accounting records at the same time.