Additional

costs that may come with the implementation of a new Accounting Information

System can include:

Accounting

Information Systems typically have a feature where an account chart can be

saved in draft and that is the ideal place to draft, review and save a draft

chart of accounts.

Due

to the number of users that a very basic off-the-shelf Accounting Information

System caters for, this internal control is rendered impossible:

To

be able to create more general ledger accounts when the organization expands in

the future, the account chart must contain:

Accounting

software for medium to large organizations would usually cater for this range

of users.

A

trade discount, also known as an ‘early payment discount’  is granted to customers who pay the invoice

before a stipulated date.

Computer-aided

design (CAD) and computer-aided engineering (CAE) are software to support the

production planning process.

An

example of a subcategory for Operating Expenses (main category) is Expenses

(subcategory).

Sage

and Xero are example of accounting information systems.

Organizations

of a similar size will have similar structures for their accounting functions.