Chic Proposal

¬Project Proposal

AAT Student Registration Number:
Describe your organisation briefly:
Chic Paints Limited is a private Limited Company that was formerly part of Ashstead Plc. Chic Paints Limited has been trading independently since 2007, when it was the subject of a management buyout from its previous owners by its five directors.
The Company specialises in specialist paints for boats, cars and industrial machinery.
CPL aims that their products are expertly formulated to meet the highest international standards, operating their business in a sustainable manner to reduce their impact on the environment and to use recyclable materials whenever feasible.
The Company’s statement is to employ highly experienced, dedicated and customer oriented employees and to operates to the highest standards of business ethics with regards to customers, suppliers, employees and the wider community.
The Company’s structure is based on five directors, Accounts department, Production, Purchasing,   Store and Sales departments together with costing Technician

Describe the part of the Accounting system (e.g. Payroll, Purchase/Sales Ledger etc) you have chosen to analyse:
Chick Paints Limited uses Microsoft Excel spreadsheets as a form of accountancy package that was implemented as an emergency system after the MBO in 2007. This was intended to be on a temporary basis but as to date, no changes were made.
The excel spreadsheets are used at the end of the month to update the General, Accounts receivable and accounts payable ledgers, which runs on proprietary software, specifically written for CPL.
Accounts Receivable and Credit Controller is run by Accounts Clerk, who is responsible for all data input into the Ledger. She raises sales invoices and credit notes where necessary, produces monthly statements and debtor payment reconciliations. The ledger is updated monthly however she has to use the spreadsheets for credit control.
She is also responsible for credit...