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Accounting Software Packages in Australia

   

Added on  2021-06-18

13 Pages3387 Words130 Views
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Accounting Software Packages in AustraliaTable of ContentsIntroduction.................................................................................................................................................3Organizational Structure..............................................................................................................................3Issues Associated with the Organizational Structure...................................................................................4Enterprise Resource Planning (ERP): System Acquisition Method.............................................................4System Flowchart of the Sales Processes & Activities................................................................................5Control/Monitoring Issues & Frauds...........................................................................................................5Development and Adoption.........................................................................................................................6Accounting in Australia: Current Market Size.............................................................................................6Leading Software Packages & Vendors with the Competitive Advantage..................................................7MYOB Accounting Software..................................................................................................................7Intuit QuickBooks...................................................................................................................................7Saasu.......................................................................................................................................................8Reckon.....................................................................................................................................................8Xero.........................................................................................................................................................9Challenges for the users.............................................................................................................................10Conclusion.................................................................................................................................................11References.................................................................................................................................................112

Accounting Software Packages in AustraliaIntroductionA business organization can efficiently function only when the several units and departments arein sync with each other and are integrated. The integration of the business units and departmentsensures correct and timely flow of the information sets. The business organizations are composedof certain essential and non-essential departments. One of the essential units in any of thebusiness organization irrespective of its size, location, or domain is the accounts department. It isthe department that keeps track of all the funds and costs associated with the project and businessactivities along with the salaries of the employees. Thus, a business organization shall ensure thatit makes use of adequate accounting tools and techniques to efficiently execute the accountingtasks. With the demand of such tools and techniques, there are several accounting softwarepackages that have been developed with numerous vendors in the market. The accountingindustry has witnessed several changes and transformations over the years with the use andinvolvement of latest technology. There are integrated software solutions and packages that aredeveloped that serve the accounting needs of an organization with a single package. Australia isone of the primary users of such packages in its accounting and backing firms. Woolworths isone such Australian organization uses these packages and the report covers the information ofaccounting software packages being used in Australia. Organizational Structure Woolworths Limited is an Australian organization that has been selected to study the accountingsoftware packages and information systems that are in use in Australia. Woolworths is acompany that is an online and offline retailer of groceries and household products. The companyhas its e-commerce cite to allow the customers to order the products online. The business operations that are carried out in Woolworths have increased with the passage oftime due to increase in the number of customers. There are leaders and managerial resourcesdeployed in the organization along with the middle level managers and operation staff membersto carry out all of the business activities and tasks (Woolworths, 2017). 3

Accounting Software Packages in AustraliaIssues Associated with the Organizational Structure The organization structure that is followed in Woolworths is functional structure. According tothis structure, the skills and expertise of the resources are assessed and the resources aredistributed in functional units. These functional units are then utilized to carry out the businessactivities and operations. The implementation of this organizational structure in Woolworths hasbrought up a number of issues. Collaboration and communication between the functional units isone of the major issues that are seen. There is lack of communication between the functionalunits that adversely impacts the business performance and quality of operations. Integration ofthe units is essential so that all the departments are aware of the organizational information at alltimes. The issues that have been listed above can be resolved with the implementation of informationsystems and tools (Henderson, 2004).Enterprise Resource Planning (ERP): System Acquisition Method The information systems that are developed can be acquired through several methods. Some ofthese methods may include acquiring software from a third-party or there may also beconfiguration & installation of such a package utilizing commercially available softwarepackages. The software vendors and providers have also come up with Enterprise ResourcePlanning (ERP) solutions that may also be utilized in this case (Yang and Tamir, 2015).Woolworths shall install and implement an ERP package. Enterprise Resource Planning (ERP) isthe software package that integrates the back-end functions that are carried out in a businessorganization. The strong integration of these back-end functions ensure that the organizationbenefits from the execution of the business activities as the desired results are achieved (Mallery,2011). 4

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