Explain how an operation function interacts with accounting and finance,procurement and logistics and marketing and sales?

Accounting Operations is responsible for the following:

• Accounts receivable
• Sponsored programs billing
• Plant and property accounting
• General accounting

Accounts Receivable and Sponsored Programs

The Accounts Receivable and Sponsored Programs team supports the research activities of the University by providing financial and accounting infrastructure for sponsored programs. The particular functions of this team include

• Managing invoicing and receivables
  • Generating invoices and payment requests
  • Ensuring the timeliness of scheduled payments for sponsored-project accounts
  • Following up with sponsors on outstanding receivables to ensure timely collection
• Filing financial status reports
• Preparing the Indirect Cost Proposal
  • Conducting a comprehensive space survey
  • Computing proper indirect rates
• Creating and promulgating sponsored programs financial administration policies and procedures
• Providing the accounting infrastructure for accounts receivable
• Maintaining the accounts receivable module and the University’s customers
• Implementing accounts receivable and billing for departments throughout the campus
• Providing helpdesk support and training to departmental end-users with billing and receivables responsibilities

Plant and Property Accounting

The Plant and Property Accounting function oversees accounting for the University’s investment in Plant. This includes the management of plant fund ledgers and accounting for plant and property depreciation. This function works closely with facilities management and the UT System Office of Facilities Planning and Construction to facilitate the approval and booking of project funding and expenditures. This function also works with the UT System Office of Finance to analyze, report, and reconcile the University’s records on debt to UT System records.

General Accounting

The General Accounting function manages the accounting and reconciliations related to the University’s endowments, gifts, pledges, investments, and agency funds. The General Accounting team works with Information Technology to ensure that the financial systems function properly, and that monthly and year-end closings are accurate and take place in a timely manner.

Operation is the key in any manufacturing factory, they should know other function in and out and need to work with them very closely. Actually they can influence / improve the other functions for the benefit of organization.