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Software design – the best feature of the system itself

The LEAD Accounting System is designed by a of team accountants, consultants and programmers with collective expertise in Finance, Accounting, Auditing, Treasury, Human Resource, Business Operations, Database management and Programming. To provide a holistic solution to business concerns, the team crafted an accounting system with the following features:

  • Simple. The system flow is based on the standard accounting processes adapted in the Philippine setting. Uniform graphical commands and similar user interfaces were used in all modules to ensure ease of use.
  • Flexible. System procedures and processes are adaptable to the varying needs, size and nature of operations of companies from different industries;
  • Benchmarked with best practices in internal controls. Application controls were embedded in the software to supplement the general accounting controls. The best practices in internal accounting controls and processes were given the top considerations in the design of the system.
  • Multiple users. The system allows various users to access and use the system at the same time.
  • Multiple business segment reporting. Consolidated financial reports as well as separate income statements for each business segment can be generated from the system.
  • Integration with front end systems. Systems for operations such as Billing and collection, inventory system, etc. are being developed. These systems can be integrated to the general accounting system.
  • Controlled access privileges. Access of every user to reports can be defined and restricted, in accordance with company policy, to protect confidentiality of information.
  • Conformity with accounting standards. The system provides detailed information to allow users to conform with international financial reporting standards.
  • Reports for all levels of management. The system can provide financial reports that can enhance the tactical and strategic decision making process of the management. All reports can also be extracted to Microsoft Excel so that additional analyses can be performed to meet special needs of users.

Value added service

In accordance with our commitment to provide value added service to our clients, our financial/accounting consultants will provide assistance during the implementation stage, to include:
  • Review of accounting procedures and practices of the client for the purpose of identifying significant control deficiencies; and to provide informal consultation with management on how to address these deficiencies.
  • Coach direct users to maximize their efficiency in the use of the LEAD Accounting System.
  • Provide training for the top management and those in charge of corporate governance on the interpretation and use of the financial reports and analyses generated by the system.
  • Provide training for administrators on embedded application controls and how they relate to general controls.

System Components

The LEAD Accounting system has three major components: (1) System Administration modules, (2) Transaction modules and (3) Reports module.
  • System Administration Module. This module allows administrators and supervisors to:
    • Assign and restrict access of users.Every user may only access and view reports in accordance with management specifications.
    • Control master files. Only authorized officers may add, delete or update critical information such as, official chart of accounts, accredited suppliers and customers, credit terms, etc.
    • Designate authorities. Rights to approve and review transactions can be designated to officers in accordance with company policies.
  • Accounting Transaction Modules. Financial transactions are recorded using this module. In accordance with the global standard of accounting practice, transactions are categorized using five separate modules.
    • Cash receipts
    • Cash disbursements
    • Revenues and receivables
    • Purchases and payables
    • General transactions and adjustments
  • Accounting Reports Modules. Financial reports can be viewed and printed from this module. Reports that can be generated from this module follows:
    • Trial Balance
    • Books of Original Entries
    • General Ledgers
    • Subsidiary Ledgers and Account Listings
    • Financial Statements
    • Comparative Reports
    • Financial Statement Analyses
    • Customers’ Reports
    • Suppliers’ Reports
    • Employees’ Accounts Reports
    • Property and Equipment Reports
    • Customized Analyses and Schedules