Designing a Data System for Financial and Stock Management in a 3D ICT Company

Categories: DesignWeb Design

I am designing a data system for a 3D ICT company that sells and makes a wide range of equipment to make 3D packages for other business and websites. The business ahs been going well over the last year where we first opened our doors to the public, sales are up and the company needs to have a better hold on its finances and stock.

The systems I will need to look at:

1. The sales of products by type

2. Employees cost

3. Fixed and variable costs (e.g. rental and electricity)

4. Stock which is selling well and not selling well

5. Stock level

6. Materials need to make products

7. Machinery that cost money or labour

8. Maintenance

THE SALES OF PRODUCTS BY TYPE

The products, which my company sells will be listed in order of alphabetical order or order, of which they are selling so the best selling items at the top and the worst selling items at the bottom.

Also on this the information would also tell me the level of stock, which my warehouses and shops have, which also links to point 5.

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EMPLOYEES COST

The employees cost would include the cost of which the employees I employ cost me in the line of wages, which would have all the employees names and details and there number of hours and how much there hourly rate of paid is, along with this there would be a formula to work out how mush they are to get paid and then the amount that they have to pay in National insurance and tax, which would have another formula to work out the total pay which employee will relieve, along side this there will be information on the employee which would include there personal details such as name, address, age and date of birth, home phone number and there next of kin.

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Also on this information there will be a part were the cost of insurance will be calculated, so the amount of which the company needs to pay for insurance of the employees.

FIXED AND VARIABLE COSTS (E.G. RENTAL AND ELECTRICITY)

The fixed and variable costs would be were the bills for renting products would be listed.

The items, which would be included in this, would be things such as the phone line and how much it cost to use it.

Fixed cost is were there is a price which the company has to pay no matter how much it uses it, for example the line rental could be �40 a month, what would mean no matter how much the phone is used I would still pay �40, even if I didn't pick the phone up, I would still pay �40, or even if I made 600 phone calls I would still only pay �40.

A variable cost is were a company pays for what it uses, so if I paid 10p for every minute my company uses the phone, and I used the phone for 100 minutes in a month the total of the bill would be 10p * 100.

This would include the bills for renting my premises out or even renting premises of a different company, it would also include the cost for electricity.

STOCK, WHICH IS SELLING WELL AND NOT SELLING WELL

The spreadsheet for this would make it clear to whom it is concerns about what products are selling well and what products are not selling well.

The information would able to put into and order so the products selling the best at the top and the products selling the worst at the bottom, the list could even be put into order of alphabetical.

This would be helpful because it could mean my company is losing money so I would have to stop making the product or it could tell me that some of my products that are selling well, I need to make more of.

This would also link to number 1(The sales of products by type) because the items could be listed in order of type, e.g. products for web sites or products for computers.

STOCK LEVEL

The stock level would be done on a database and it would tell me the level of stock which I am holding, this would be helpful because it would notify me what items I need restock on, and tell me when I need to order the products before I have none left to sell which could leave my company losing customers as the customers may go else were.

MATERIALS NEED TO MAKE PRODUCTS

The materials need to make products would also be listed in a database and would interact what materials I am low on so that I no when I am making my products what would stop me from not having enough stock in.

With this

PROBLEMS

Some of the problems, which my company are having, are that my company are finding it hard to work out how much we are having to pay our staff and fill that we could be over or under paying are staff.

A solution which my company could use to resolve this is by have a spreadsheet which will contain all the employees names and will have how much they get paid by the hour and how many hours they have done, than a formula will be added to work out how much the employee is to get paid, than another formula will be added to work out how much money is need to be taken away for tax, and finally another formula will be added to find the final total of payment.

To work how, the amount of tax which the employee needs to pay ill have a formulae which will calculate the hours which the employee has done by the hourly wage which they get then divide the total of that by 17.5(the amount of tax which every employee has to pay). Than I'll have a formulae to find the total which will calculate the hours which the employee has done by the hourly wage which they get then take away the tax amount.

This solution should help my company to pay the employees the correct amount for there work but this could still cause a few problems such as typing in the incorrect data for a employee.

This is what will be on the Microsoft spread sheet in the left hand side will hold the date of the employees surnames, in the next column will be the employees first name, next column will hold how the data which says how much the employee gets paid by the hour, in the column will have a formula to work out how much tax the employee needs to pay the formula will be =E5*D5/17.5 which will give me a total amount which will be needed to be taken of the total they have to be paid.

To find the final total I will have another formula which will work how much the employee needs to be paid after tax the formula will be: =D5*E5-F5.

All the person needs to do to find how the wages in type in the amount of hours which that person has done and the formulas will do the rest.

To test if this works I have all ready put it into a Microsoft excel spread sheet using the same formula's and date which I have indicated that I will use, I will be using the same name's and same order as indicating in the table above.

This is what it looks like on Microsoft excel.

To make sure that only the correct person can use the spread sheet I will protect it with a password.

To do this I will go to the "Tools" on the toolbar and go to protection, which will allow give me 3 options,

* Unprotect Sheet

* Protect Workbook

* Protect and share workbook

The Protect Workbook option will give me a box which allows me to protect the spreadsheet from be changed.

This will not help as it means that no one can use it with out knowing what the password is.

This protect sheet option asks you to have a password which you enter each time you want to edit or use the spreadsheet.

If I use the Protect and share workbook option it will give me a different box than the Protect Workbook option.

The protect and share workbook gives me the option of protecting my document, meaning that no one can change the spread sheet, but they can still use it to find the wages.

This is the best option for me as it means no one could change the details on the spreadsheet but use it only to get the wages need.

Updated: Apr 26, 2023
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Designing a Data System for Financial and Stock Management in a 3D ICT Company. (2017, Oct 10). Retrieved from https://studymoose.com/designing-a-data-system-for-financial-and-stock-management-in-a-3d-ict-company-essay

Designing a Data System for Financial and Stock Management in a 3D ICT Company essay
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