Accounting Information System (Doc)

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Added on 2020-02-24

Accounting Information System (Doc)

Added on 2020-02-24

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Client Name: Goodie GumdropsYour name: Accounting Information SystemDate: Page 1 of 10Student Name and Student ID

Executive summaryCloud based accounting system is more adaptable. Bookkeeping information should be possiblefrom anyplace on any gadget with a web association, instead of to be sit on one start PC. Cloudbookkeeping will surrender you to-date and current monetary data that will help you to roll out animprovement in your business. Reinforcement Every one of the information will be spared, if there should be an occurrence of any hardshiphowever you can't do this with paper records unless you make a duplicate of information. Efficient Cloud bookkeeping is time advantageous you can recover information more effortlessly thaninformation from conventional bookkeeping. As we know nothing is immaculate, so cloud bookkeeping likewise has a disservice:- Cost of cloud bookkeeping is useful for huge undertaking, yet it is expensive for private company. Onthe off chance that the information is transferred on cloud then it implies you have no influence overit. It must be served over the world. One ought to need to require an assurance against information lost through power disappointment,infections and from programmers. You likewise ensure about the information you go into theframework will be right, else it can devastate the entire arrangement of information. Recommendation:- Despite of all drawbacks, I will recommend Cloud Accounting to “Goodie Gumdrops” because now-a-days business is moving fast and in this fast moving world we have to adopt new technology. Theorganisation like Goodie Gumdrops is a start-up wholesaler and thus, it needs minute monitoring toattain success in the longer run. The factors like dashboard, easy recording, minimum cost,appropriate financial statements indicates that Xero will be an effective cloud based accountingsystem.Page 2 of 10Student Name and Student ID

Financial reports for Goodie GumdropsAssumptions:1. For the purpose of financial transaction, a bank account named Goodie Gumdrops has been established, where opening balance was 0.2. All items were purchased @ $10.00 per unit;3. All items were sold @ $15.00 per unit;4. In case paid date is missing, it was set as one month credit period, that is for 3rd july the due date will be 3rd august;Page 3 of 10Student Name and Student ID

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