Accounting Information

System
Steps in the Accounting Information System
The four key functions performed by an Accounting Information System.
(attribution: Copyright Rice University, OpenStax, under CC BY-NC-SA 4.0 license)
The Steps in an Accounting Information System
The three steps of an accounting information system are
• input – journalizing and posting
• processing – summarizing and adjusting entries
• output – financial statements or financial report
On each of the three steps involved give the necessary documents for the
inputs system as well as the processing and the database that each will use. The
output is given below.

1. Daily Sales and cost of sales report

2. Inventory report
3. Daily cash position report
4. Monthly Accounts receivable & aging report
5. Monthly Accounts payable report
Answer:
1. Inputs – Sales invoice, cash receipts or OR, prices of inventory,etc.
2. Processing – sort sales on account & cash, determine specific products daily
profitability by percentage by amount.
3. Output – Daily Sales and cost of sales report