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Monthly MIS Reports

A Management Information System is a system that provides information needed to manage organizations efficiently and effectively. Further, it is regarded as a subset of the overall internal controls procedures in a business, which cover the application of people, documents, technologies, and procedures used by management accountants to solve business problems such as costing a product, service or a business-wide strategy Management Information System(MIS)Reports of management information system bangalore.

Benefits of Financial Management Information System (FMIS) and Accounting Information System (AIS).

  • Monthly accounts of transactions.
  • Cash Flow.
  • Sources & uses of funds .
  • Ledger & Journal.
  • Monthly Return and Statement Processing.
  • Trial Balance & Balance Sheet.
  • Payroll Accounting.

Financial MIS

Provides financial information to all Financial Managers in the Organization Provides reports with fixed and standard formats – Hard and soft copy reports Strategic Plan or Corporate Policies – Contains major financial objectives and often projects financial needs management information system reports bangalore.

Accounting MIS

Provide aggregated information on.

  • Accounts Payable.
  • Accounts Receivable.
  • Payroll.

Transaction Processing System (TPS)

  • Important financial information collected from almost every TPS – payroll, inventory control, order processing, accounts payable, accounts receivable, general ledger.
  • External sources.
  • Annual reports and financial statements of competitors and general news items.

Financial MIS Subsystems and Outputs

  • Profit/loss and cost systems.
  • Auditing.
  • Internal Auditing.
  • External Auditing.
  • Uses and management of funds.

Elements of usable MIS

  • Timeliness.
  • Accuracy.
  • Consistency.
  • Completeness.
  • Relevance.

MIS Reports

Scheduled Report

  • Produced periodically (daily, weekly, monthly) or on a schedule.

Key-indicator Report

  • Summarizes the previous day’s critical activities.
  • Typically available at the beginning of each day.

Demand Report

  • Gives certain information at a Manager’s request.

Exception Report

  • Automatically produced when a situation is unusual or requires management action.

MIS Software

  • GnuCash, Home Bank, TurboCASH .
  • Microsoft Office Accounting Express .
  • Banana Accounting, FlexAccounting.
  • Microsoft Dynamics AX, NAV, SL.
  • Microsoft Accounting Professional.
  • Microsoft Small Business Financials.

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