Thursday, July 25, 2013

Reintroducing The Accounting Engine

Since all business are not created equal one size does not fit all!

Originally introduced in 2005 more information on the architectural and technological changes soon.
  The Accounting Engine™ is a baseline service-based framework with a distributed architecture for developing customized business applications and is composed of the following business components:
  •  Accounting Books™
  •  Business Tools™
  •  Master Sets™
Like the Accounting Process/Accounting Cycle the Accounting Engine™ consist of the following:
  • Accumulating and Classifying Information
  • Recording and Processing Transactions
  • Reporting Financial Information
The Accounting Books™ are transaction processors that receives transactions from standard or customized Business Tools™; anywhere, anytime and from any client in the enterprise validates and post them to the General Ledger. In other words the Accounting Books™ are a distributed online General Ledger that exposes its content through the standard Financial Statements and other reports.

Business Tools™ are standard and customizable transaction generators that represent the money exchanges between the several entities of the enterprise; Disbursements, Receipts, Point of Sale/Service, Purchasing, Billing, Payroll, etc.

Master Sets™ are standard and customizable data collectors that are designed to help with the accumulating and classifying of information and they represent the entities of the enterprise; Customers, Vendors, Employees, Taxes, etc.

The main objective is to create a friendly environment in which every business could represent their work flow.