MCBA Quantum Accounting System
…seven friends every Company should have!
Your company needs solid accounting practices to be profitable and you need reliable software to implement those practices. MCBA will deliver that reliability everyday to your operation no matter how big or how small your company may be today.
MCBA Quantum Accounting is a group of seven packages that are needed by every company in the world. They can work as separate packages or as a single cohesive group to give you the solid based of accurate up to date information to run your company.
Two of the most important management attributes of any accounting system are control of and access to vital financial information. While access to sensitive information must be limited to those who need it, it must also be instantly and effortlessly available when required.
MCBA Quantum Accounting Software possesses these attributes and many more.
When goods or services are paid for in advance, the vendor invoice would still be sent to the A/P department. It may be marked clearly as prepaid and could show the check number of the check written.
For some payables, a fixed amount of money is due on a regular schedule, and you may or may not receive an invoice in advance of the due date to remind you that payment is due. These payables include rent, loan payments, mortgage payments, etc. An easy way to handle these types of payables is with recurring vouchers. The payment frequency and amount are entered into the Recurring Voucher file. Vouchers will be automatically created for the payables as needed. These vouchers can then be selected for payment and paid by computer-printed check, just like any others.
This straightforward set of programs allows you to enter all of the information contained on customer invoices. After you have entered the invoice number, the date of the transaction, and the amount of the sale, the program allows you the option of specifying in which G/L account or accounts you want the transaction recorded. If you only have one sales account, and one freight account, etc., you do not have to enter these G/L distributions every time you enter a transaction. The A/R Control Maintenance application allows you to specify how you want the distribution done, and after that the sales processing programs handle the postings to the General Ledger accordingly.
During the entry of sales transactions,you can also enter sales rep commissions and cost of sales information. Then later on, you can produce a Commissions Due report which will show you what commissions are due to each of your salesmen, and what sales generated each commission amount.
Fixed Assets and Depreciation
The MCBA Assets and Depreciation package provides you with the ability to keep track of a company’s fixed assets and to calculate the depreciation costs for those assets.
The package incorporates the ACRS (Accelerated Cost Recovery System) depreciation method including pre-1987 and post-1986 methods as well as a wide range of traditional depreciation methods. The choice of depreciation methods and the ability to define up to nine different sets of books, each book being known as a reporting entity, provides the user with considerable flexibility.
The MCBA General Ledger package is aimed at producing financial statements, primarily the Balance Sheet and the Profit and Loss Statement, and a number of supporting schedules. Additional financial reports that can be produced are the Sources and Applications of Funds (SAF) Report, Cash Flow Report, Statement of Changes in Financial Position Report, and Components of Working Capital Report. The General Ledger package consists of a number of functions, each of which contributes toward producing the financial statements.
Human Resource Management
MCBA’s Human Resources Information System will augment your organization’s ability to attract, select, efficiently employ, reward, and maintain your most important asset - satisfied and well-placed employees.
The Human Resources package will assist you in managing a growing amount of employee information in an increasingly complex environment of legal and statutory requirements and regulations. And you can do it all in a timely manner. The package expedites placement, promotion, benefit, and compensation processing.
Two methods of guaranteeing an exchange rate are the fixed rate and the forward contract.
Fixed rate is the process of exchanging currency at a rate set by reaching an agreement with the foreign vendor as to what exchange rate will be used. Both the vendor and the buyer assume some risk that the spot rate will change in the other party’s favor.
Forward Contracts are used by companies who make large or frequent purchases from foreign suppliers. The seller (typically a bank) assumes the exchange rate risk for a fee.
The MCBA Payroll package is for use in handling all major aspects of processing the payroll for employees.
It stores all static and cumulative data necessary for calculating periodic payroll and complying with nearly all government regulations regarding payroll taxes.
The package prints:
- Payroll checks
- Year-end W-2 forms
- Quarterly report forms
- It produces other numerous other reports
- It tracks all General Ledger transactions generated in the course of payroll processing and may, at the users option, be automatically interfaced to MCBA’s General Ledger package
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