1.1 Background of the Study
Cash receipt generating system is a viable source in any business organization and venture and so on, its main purpose is to maintain more reliable records of money going in and out from the firm. This is look upon the view that the business organization must have business associates that exchange market with each other. It is a sure fact that the most have been a contract of which, there is an obligatory task that stands the terms of agreement, it could be a payment to their client or partners or from their client who pays into their own account. Another thing matters weather it will be cash without remark balance or install mental, and how many installments it is going to be. This is clear stated in the organization activities and manner of operation. Whenever there is payment, there is also the issuing of receipts this is centered on the writing of what each party has in stock (Droms, & Wright, 2017).
When the amount of data grows in a company, there is a need for a database system to store the data regularly. The need for an art gallery database includes storing data information, sales information for monthly reports.
This research work presents the development of data management systems for holding cash information like the products sold, monthly flow of cash, and balance sheet information for the month. All this will be explained in detail in the following chapters. The objective is to design a data management system that can store information like art work, and sales information.
In developing the database system, there will be a need to decide what the best tools are for this. The client selected Microsoft Access and Visual Basic, since they were familiar tools she works with. In order to achieve these goals, important questions that are asked include what is the information that will be stored in the database, how many tables will be needed and how will these tables relate to each other. These are some good points to note when designing a cash register.
The Microsoft Access is where the work begins; it includes creating the models for each table in the database, analyzing the content of the tables, designing the User Interface that the client will use to input data information into the database. The Visual Basic will be used for creating dynamic interaction in the database, like generating the receipt reference number for each customer that buys goods, and wants make the payment online.
Some of the problems observed in the existing system are:
1.3 Aim and Objectives of the Study
The aim of this study is to design and implement a computerized Cash receipt generating system. The objectives are;
1.4 Significance of the Study
The essence of Cash receipt generating system is to calculate accurate transaction of the business, generate receipts, and monitor the delivery or supply the right quantity of goods and at the right time/place. Cash receipt generating system examines sales reports to see what product and services made the highest sales. The analysis is used to determine how to stock inventory, how to measure the effectiveness of a sales force, how to set manufacturing capacity and to see how the shop is performing against its goals. At any time during the fiscal year, sales managers may analyze the trends in the report to determine the best course of action.
1.5 Scope of the Study
This project explains the reason why stock or inventory is held, it also gives the purpose of Cash receipt generating system and basic definition or terms used. Furthermore, it sets the framework for the explanations of detailed aspects of receipt generating system as it is with the use of Electronic Data Processing equipment (EDP). Generally, this product is geared towards the design and implementation of Cash receipt generating system in the section of goods in Rorban Stores Ltd., Owerri.
1.6 Limitations of Study
In the course of carrying out this research work a number of problems were encountered.
1.7 Definition of Terms
Accounting: Accounting or accountancy is the measurement, processing, and communication of financial and non-financial information about economic entities such as businesses and corporations (Needles, & Marian, 2017).
Analyst: This is a person or professional who studies the problem encountered by a system and creates means of solving them by introducing a better system.
Business: this is the activity of making one’s living or making money by producing or buying and selling products (such as goods and services). Simply put, it is “any activity or enterprise entered into for profit (Needles, et al., 2017).
Cash Receipt: this is a printed statement of the amount of cash received in a cash sale transaction. A copy of this receipt is given to the customer, while another copy is retained for accounting purposes (Cavinato, 2012).
Computer: Computer is an electronic device operating the control of instructions stored in its memory that can accept data (input) manipulate the data according to a specified rules (processing) produces result output and stores the result for future use.
Credit Card: It is a payment mechanism that enables consumers to make their online purchase.
Creditor: this is an entity, a shop or a person of a legal nature that has provided goods, services, or a monetary loan to a debtor.
Data processing: is defined as the entire process of converting or manipulating data into definite meaningful information (Okoye, & Adigwe, 2017).
Data: It is the facts collected for decision making they are facts that are kept to be processed to get more information.
Database Management System (DBMS): it is software which controls the flow of data and checks and checks on how data are stored.
Database: is an organized /unique collection of related files. It is a collection of schemas, tables, queries, reports, views and other object.
Debtor: this is an entity that owes a debt to another entity. The entity may be an individual, a firm, a government, a shop or other legal person.
Demand: It is the amount requires by sales or production
Design: is the art or process of designing how something will look, work.
Documentation: material that provides official information or evidence that serves as record; written specifications and information that describes the product.
Electronic Data Processing Equipment (EDP): it is a machine that performs the work of data manipulation.
Information: is a processed data that can be read and understand.
Internet Service Provider (ISP): This is a company(s) that provides internet access to homes or business users.
Internet: It is an interaction of computer networks connecting other networks from computers, companies, houses etc.
Inventory: List of goods.
Invoice: It is a piece of legal paper smarting the intake or transfer of a certain material in and out of a store or warehouse.
Management Information System (MIS): Information system that generates accurate timely and organized information so that manager and other user can make decision, solve problem supervise activities and track progress.
On-Line Shopping: This is the buying and selling of products through the internet or web.
On-Line Supermarket: It is representation of material or real shop on the internet or on the web.
Receipt: is a document acknowledging that a person has received money or property in payment following a sale or other transfer of goods or provision of a service (Cavinato, 2012).
Security: This helps to prevent unauthorized users from illegally accessing certain data within the database, it protects your data/ files.
Shop: this is a legal entity made up of an association of people, be they natural, legal, or a mixture of both, for carrying on a commercial or industrial enterprise.
Software: These are set of logically related instructions given to the computer to perform some specific task.
System: Is the collection of hardware and software, data information procedure and people.
World Wide Web (www): It is a multimedia interface that connects us to resources such as documents, e-mails, chat, web sites that are available on the internet with the computer.