The Accounting Department
1. Inkwell has a small finance team. The accounting department is based in the head office of the company, which is located in Birmingham. There are 8 people in the finance team. Each member of the team has their own computer. The team has access to the internet using Firefox and two printers integrated to each computer.
2. Inkwell has one Financial Director, Anil Gupta. Anil’s main job is to manage the overall financial position of the business, ensuring capital investments and corporate strategy is properly dealt with. He has delegated the running of the accounts department to the company accountant.
3. Inkwell has one company accountant, Michael O’Payne who has been in charge of most financial affairs before Anil Gupta joined the company. The others in the financial team report to him.
4. The team consists of one accounts technician, one General Ledger and Inventory Clerk, one Accounts Payable Clerk, one Accounts Receivable Clerk, one Costing Technician and one Payroll and Personnel Database clerk.
5. The accounting department keep a close relationship with the shop staff. The main mode of communication is through email and phone calls, occasionally a member from the team will pay them an unexpected visit.
The Accounting Department- Key Internal Stakeholders
1. Anil Gupta, Financial Director, has the overall responsibility for all finance, legal and accounting procedures and systems. He produces annual reports and statutory accounts. Alongside this he deals with financial issues such as banking and also legal issues, such as contacts. Anil has 30% of the company’s shares when joined the directors in 2008.
2. Michael O’Payne, the Company Accountant, has been in the company since the set up of the company. His main duties include running the day to day responsibility of the accounts department. He also produces monthly management accounts and approves payments to suppliers. After observing the company there is a low level of tension between him and Anil. However, Michael still needs to report to Anil, if he likes it or not.
3. Alex Fox, accounting technician, has the responsibility of making sure the accounting system is reviewed and recommend changes, along with other project work. She has to report to both Anil and Michael, however works more closely to Michael.
4. Michelle Labelle, General Ledger and Inventory Clerk, has the duties of maintaining the company’s cash book and keeping control on the company’s inventory. This requires Michelle to keep in close communication with the store managers. She too reports to Michael.
5. Liana Khan, Accounts payable Clerk, has the responsibility of entering all the suppliers’ invoices and credit notes on to the accounting system. She also has to ensure payments are arranged to suppliers. Liana also reports to Michael, her Father in Law.
6. Greg Morris, Accounts Receivable Clerk, has the duties of inputting all data received by customers, as well as credit control duties. These duties include sending out monthly statements to customer, working out discounts and chasing customers who have not paid in the time given.
7. Alan Cook, Costing Technician, has the responsibility of operating the costing system. This means Alan has to work closely with the Sales director in order to reach market prices. Alan uses Quickcost software to do his work and has been doing it for since the company started. He also monitors the cost and profitability of each cartridge on a monthly bases and advises management about variance targets.
8. Sharon Ward, Payroll and Personnel Clerk is responsible for the running of the payroll, both Weekly and monthly and also to make sure the personnel database is always up to date. Sharon uses Sage Payroll systems to process all her statutory forms.