• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

ICT in Finance

Extracts from this document...


ICT in Finance Credit Control Credit control is a database and it tells the company when payments need to be made. By implementing a credit control procedure manual Boots are enforcing the company's individual characteristics. They are showing they have management and company values that will inform their customers that they have presence, confidence, diligence, and that they are prepared. Companies that have these values are less likely to suffer from late payment or bad debt (aged debts). Controlling their company's credit, when they no longer control their debtors the cost of financing their company's cash flow is at the mercy of those very same debtors. Boots need this because it tells them when their debts need to be made so they wont get into deeper debts. If they didn't use this method the company could go bankrupt in a few months. Forecasting Boots need to use forecasting when they seeing what products will be needed in the season because they will not buy furry body warmers for babies in the summer, these will be used in winter time this will make sure that boots do not lose any customers to other rivals Supplier Payments Supplier payments are payments that need to be paid to the company they bought their stock of. ...read more.


Boots would use this when they owe money to the suppliers because they have bought their food from them like the sweets the drink they sell. Boots needs this because when they pay the creditors by cheques they can get lost so the creditors will think that they haven't paid causing the company to go into debt with the creditors. Payroll Payroll is a special program to calculate the monthly payroll and it prints out payslips automatically. So Boots would use this at the end of the month when they want to pay their staff so the computer knows whether to send the money directly to the staff's bank, give the staff it in cash or give them it in a cheque. It is needed so there is no confusion on who gets what money and no one will need to add all the money out it is done for you automatically. Description of ICT system used in finance The hardware that is needed to perform the tasks above is monitors, keyboards, mouse's, random access memory, a processor, and cables (see previous pages). The software that boots use in finance is Microsoft Excel and Microsoft Word (see previous pages). ...read more.


So all the tasks on the computer that are to do with finance like payroll and budgeting you wouldn't be able to do. Cables need to be used in finance because the cables provide the electricity to the computer so without them the computers wouldn't work. So tasks on the computer that involve finance you wouldn't be able to do. Boots use Microsoft Word and Microsoft Excel as their software for finance because with Microsoft Excel they will use this to create spreadsheets for budgeting. You can also create graphs from your information very easily. Boots use Microsoft Word in finance because they will use this to create Word documents to send to the suppliers telling what they want and how much they want. The hardware and software above does do all the things needed to be done by that department as described in finance because if it didn't their finance would be in jeopardy because all the calculations would have to be done by hand so this would take lots of time so other operation wont get done. Supplier payments wont get paid and bankers automated clearing system wouldn't work properly so this could lead into a decrease in profit and eventually the company could go bankrupt. Scott Holden ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Computer Science section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Computer Science essays

  1. Hardware and software ICT revision notes

    and make minor modifications. Hypertext information displays text and graphics and may play sound files. You will need to use appropriate presentation techniques; most appear in Unit A: Presenting information (Intermediate). In particular, you must: * plan your output to suit your audience * plan your page structure * use

  2. AS ICT Corsework - Mr Brookes K-Fit Ltd

    Hopefully the items are al added to the basket perfectly and displays the user with a message of success. Test Five - Text Positioning I am going through my site to test that all the text is where it should be in the right size and font.

  1. Smart Card System

    * Support needs of proxies, clients and servers in a common format * Provide robust handling of character escaping issues * Allow exchange of demographic data. * Allow summary data to be expressed. As describe above, the log file format permits customized log files to be recorded in a format readable by the generic analysis tools.

  2. Health and Safety in ICT

    posture * Hand in arm position and movement * Angle of the monitor * Lighting * Their vision * Cables and accessories or peripherals. If the position of the computer is too far away from you. You have to squint at the screen hence damage your eyesight.

  1. CP3 - Proposed Solution to a Realistic Problem - Apartment Administration software

    to be carried out and the data is processed during the night ready for the morning. A disadvantage of using batch processing is that you cannot see up to data information. Therefore this type of processing will not be suitable for my program because the user will require to see

  2. uses of ICT in a company

    These facilities is what give St Georges an advantage over the rest of the market and its competitors 4) ICT Systems used St Georges use many different software programs and hardware, in all of their branches and also by on call vets and nurses.

  1. Introduction to spreadsheets

    Image1.Picture = LoadPicture("C:\Documents and Settings\Jaswant Dhaliwal\Desktop\Ravs\k8v-d_l.bmp") TextBox2.Text = "This motherboard is a perfect merge of the latest AMD Athlon 64 processor with the 64 architecture and Via's K8T800 chipset to juice up your system. Enjoy fast performance with Scalable HyperTransport, ASUS Wi-Fi slot, AGP 8x graphics interface, S/PDIF digital audio, IEEE 1394, Dual SATA RAID, and other advanced features."

  2. Future Developments in ICT

    you to squeeze the performance of a high-end desktop PC from this year into a much smaller laptop or tablet. Simply amazing. The next developments in this field will come in the form of graphene in place of silicon.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work