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Structured Systems Design Is a Set of Procedures Performed to Convert

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Structured systems design is a set of procedures performed to convert the logical specification into a design that can be implemented on the organization's computer system.


Definitions:

Master Account

An overarching account that has the authority and capability to control other accounts within a financial or investment framework.

Lockbox System

A service offered by banks to companies for the receipt of payment from customers, directly into a bank's post office box, to minimize the time it takes to deposit checks and access funds.

Collection Time

The average period it takes for a business to collect payments owed by its customers.

Check Clearing

The process of transferring funds from the bank on which a check is drawn to the bank where it was deposited.

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