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Double Entry system is the recommended accounting system for business enterprises.

In contrast in large organizations using ERP systems like SAP or Oracle. Person receiving stock in the warehouse can only make entry related to stock. Person in payables is responsible to record the liability and person responsible for banking makes the payment entry only. How do they comply with the double entry system of accounting ?

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Question added by Deleted user
Date Posted: 2014/09/03
irfan khalid
by irfan khalid , Senior Sales Executive , Ghantoot Group ( Bin Mehran Ready Mix Concrete)

Mr.Muhammad Big organisations catagorize the working with departments for every particular job to hold controll,accuracy,consistence and proficiency.That's why store is responsible for inventory, receiveble for customers,payble for suppliers and HR for employees voice versa.

The softwares you mention all are following double entry and when some one pass entry it recorded all the relevant accounts upto financials and save big time and effort,without these software you have to pass all entries one by one and chances of mistake are very high.

Muhammad Zeeshan Hyder
by Muhammad Zeeshan Hyder , Chief Accountant , SAED Group International (Al Dabbagh Group)

the double entry is being cpmlied with in this manner that every department is doing its own responsibility in the sys. Eg.payable dept recording payables so they must select the contra account against payables eg. If the supplier of goods is being credited so at the same time stock account must be selected in the system otherwise system will not avcept the entry.

irfan siddiq
by irfan siddiq , ACCOUNTS OFFICER , WELCON CHEMICALS (PVT) LTD

IT IS A GOOD SYSTEM FOR BUSNIESS

yahia ahmed
by yahia ahmed , Accountant

yes

Double Entry system is the recommended accounting system for business enterprises.

yes double entry is recommended for business enterprises.

Mohammad Iqbal Abubaker
by Mohammad Iqbal Abubaker , Jahaca Pty Ltd - Accounts Administrator , Jahaca Pty Ltd - Accounts Administrator

In contrast in large organizations using ERP systems like SAP or Oracle. Person receiving stock in the warehouse can only make entry related to stock. Person in payables is responsible to record the liability and person responsible for banking makes the payment entry only. How do they comply with the double entry system of accounting ?

 

Actually the above mentioned software are build and programmed on main frame software and the Chart of Account is used as Integrated Accounting System. 

Deleted user
by Deleted user

yes ,according to this system every business transaction has two accounts

Abdulilah Albokary
by Abdulilah Albokary , محاسب , خوارزميات العلمية

Double entry shall be through the responsibility of the transactions and the secretary of the stores and shall be subject to periodic follow-up

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