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The Financial Management In Location
- May 20, 2018 -

     For location owner, there is a management in the game center operations that is essential. It ensures the operation of all work. Once there is a problem with this link, there may be a fundamental turmoil in the entire location, including personnel structure, data collection, and even amusement game machines equipment suppliers. Therefore, how to do a good job in this management is often the issue that managers are most concerned about. Today, we will share with you the top five issues in the financial management in family entertainment centers:

     First, fund management

     Fund management is the core of the financial management of family entertainment centers. Chain companies have the characteristics of large money flow, and funds must be centralized and controlled. Centralized management can quickly decentralize the funds, which not only ensures the safety of funds, but also increases the scale of the overall funds, thereby accelerating the turnover of funds and improving the efficiency of the use of funds. In terms of specific operations, the headquarters undertakes the functions of fund raising, use, scheduling, and management. The stores implement two lines of revenue and expenditure, special accounts, and special funds. The independent accounting store should, in principle, open two accounts: one is the basic account, which is used for the daily expenses within the budget. Funds are allocated from the headquarters. For example, rent, water and electricity, wages, and taxes are all allocated and paid by the headquarters. The other is the settlement account, which is used for the receipt and payment of funds other than the daily expenses. The account can only hold operating funds and cannot withdraw money.

    Second, current asset management

    1, machine management

    The machine ID set from the branch. The purchase, transfer, and scrap of the machine are all controlled by the headquarters. The branch has no right to dispose of it. Branches must complete procedures for acquisition, transfer, retirement, and other issues. They will first submit an application to the headquarters, which will be approved by the headquarters and then submitted to the functional departments. In addition, each chain store must specify the detailed physical card for the owned machine. Registered by special personnel, regular inventory, damage and maintenance of the machine during the use process, the cost of which will be borne by each branch.

    2, Crane game machine management:

    In chain store, the crane claw game machine have the features of fast turnover, large flow, variety and specification. In view of these characteristics, the management of commodities should be strengthened in the following aspects. In the incoming goods link, the first headquarters must establish a unified product catalog. Whether it is the store's own procurement or the headquarters' centralized purchase, the purchased goods must be within the catalog. The advantages of doing so will help strengthen the unified management of the quality and price of the goods. The headquarters will improve the catalogue of business outlets from time to time, insisting on the survival of the fittest, and all those who enter the catalog must have products that are competitive in the market, have price advantages, and have guaranteed quality. Secondly, it is necessary to establish and improve the computer information management system, through the computer to carry out systematic invoicing and analysis of each item of each commodity, to form a purchase decision system whose main function is computer decision-making and supplemented by manual correction; finance is mainly controlled at the incoming goods link. Before each payment, the purchase price of the product must be opened to check the customer information database to prevent suppliers from having high prices and discounts. In the storage link, finance can analyze indicators such as commodity turnover rate, and feed the results back to the incoming goods department, optimize the purchase decision system, and constantly improve the inventory structure. At the same time, the inventory of goods should be strengthened to promote inventory management and effectively prevent theft of stores and reduce the loss rate of goods through inventory.

    Third, strict financial budget management

    The comprehensive budget means that all business activities of the company are fully included in the scope of budget management. The specific approach is to conduct a comprehensive analysis of the implementation of the financial budget for the current year at the end of each year. Based on this, it will work with the relevant departments and stores to study the company's goals for the next year, and combine the business plan to prepare the financial budget.

    The main content of the budget:

    1, sales budget: generally consider three issues: First, how much sales can increase; Second, how much the corresponding increase in cost; Third, how to ensure the balance of cash flow. Due to the rapid market changes and the increasing number of uncertainties, there are often changes in the implementation of the budget due to various reasons. In order to make the budget truly realistic and to better consider potential factors in the future, the sales budget is generally adjusted in the first quarter. One time

    2. Budget for fixed assets: Based on the sales budget, according to the characteristics of the member's consumption of the stores, the fixed assets disposal and renewal plan for fixed assets (game equipment and projects) shall be prepared, and the fixed assets budget shall be determined accordingly.

    3. Inventory budget: Based on the sales budget, according to the size of the stores and the characteristics of the category, the inventory level and the number of days of turnover are determined respectively, and the inventory is kept at a relatively low level.

    4. Expense budget: On the basis of sales budget, decompose the various expenses of the company, combine the requirements of financial accounting standards, reasonably classify the expenses, and compile the budget.

    Fourth, improve the internal control system 

  Establish and improve the internal management system of the enterprise, with the emphasis on clarifying job responsibilities and standardizing operating procedures. Clear job responsibilities, that is, clearly define the job content, scope of duties, and requirements of each job, and the relationship between departments and departments, personnel and personnel. To standardize the operation process, whether it is a large project or a small expense, it is necessary to specify the procedures for the operation process and clearly approve the authority. When formulating job responsibilities and operational procedures, it is necessary to fully consider whether internal control is perfect. The second is to strengthen and improve the supervision mechanism of enterprises, and to supervise and inspect the implementation of rules and regulations by various departments and personnel, and formulate corresponding assessment methods.

     Fifth, establishing Computer Analysis and Management System 

    (A) Implementation of accounting computerized network management. The current chain stores are no longer isolated, single stores. After the headquarters connects to each store, it can perform real-time monitoring through the remote query function. According to needs, the monitoring content may be all information of financial accounting, or it may be a certain aspect of information; problems found in monitoring may prompt improvement suggestions, thereby improving management efficiency and enhancing the breadth and depth of accounting management; and All stores provide a unified accounting system and accounting model for the company to achieve the national chain in the financial management provides technical support.

   (B) the establishment of financial information exchange center (Financial MIS system). As for the internal departments of the Finance Department, due to the large number of chain stores and divergence, the headquarters often has a lot of information that needs to be notified to the stores in a timely manner. Conversely, the stores also have a lot of information that needs to be fed back to the headquarters. Therefore, it is necessary to establish a high-speed and convenient two-way information exchange platform, the financial MIS system. In this MIS system, intuitive point-to-point information exchange between headquarters and stores, stores and stores can be held, and regular financial meetings can be held. This is helpful for solving the problem of verification and cancellation of intercompany transactions and solving mutual accounting problems.

    (C) timely analysis of financial data. The analysis indexes mainly include: the number of people entering the store, the amount of money received and consumed by each machine, the classified amount of machines, the turnover, the amount of active members, the unit price of passengers, the effectiveness of ping, and the gift turnover rate of dolls. Through the analysis of indicators, we can optimize operations and further improve the profitability of our stores.

    Financial management is undoubtedly the core link of the entire site, and it affects the whole body. Only by fully understanding its importance and completing every detail can we ensure the healthy development of the park.