PasaDos Lending Company Narrative Report

PasaDos Lending Company is a corporation owned and operated by its trustworthy

owners, and a business that provides loan to its clients. PDLC is located at Francia, Virac,
Catanduanes with excellent visibility and accessibility to the clients. The company dedicates
itself in serving its customers and catering their financial needs with a reasonable and low
interest rate of 10% monthly. It aims to use funds in continuing what it ought to do and
innovate its software to create exciting and rewarding experiences to the customers.
In line with how the company will process the customer’s loan, PDLC prepared a
flowchart that discuses the different phases of how the application of loan works. The
presentation also includes the payroll process flowchart which depicts the steps involved in
running payroll, making withholding deductions, and distributing paychecks to employees. In
a nutshell it, breaks down the process step-by-step. Aside from that, the company also
showed its chart of accounts which includes current and noncurrent assets, current and
noncurrent liabilities, equity, revenue and expense accounts.
The use of AIS has become critical factor in changing competitive environment of
business, for the firms to effectively manage a credit system. AIS helps company by
experiencing a rapid growth improvement on credit performance and eliminating poor credit
management through its application. Accounting Information System is important in this
business because it keeps the system automated, guarantees accurate information inputs and
secures all the data.
In conclusion, the owners believe that PDLC’s concepts and plans have the potential
to be successful in competitive market specially when it uses accounting information system.
PDLC is excited to move forward with this venture and look forward to the opportunity to
serve its community with exceptional services.