Improving Accounting Systems: Traditional Accounting vs Accounting Software

BUACC5937: Information
Systems Design and
Development for Accountants
Group Assignment

TABLE OF CONTENTS
Task 1...............................................................................................................................................3
Traditional accounting.................................................................................................................3
Available options.........................................................................................................................3
Available accounting software....................................................................................................3
Strength and Weakness of implementing accounting software...................................................4
Cost of implementing accounting software.................................................................................4
Difference between accounting software and traditional accounting..........................................5
Computer based programs to substitute Accounting software....................................................5
Task 2...............................................................................................................................................5
Task 3...............................................................................................................................................6
References........................................................................................................................................8

TASK 1
Traditional accounting
Traditional accounting is a process wherein all aspects are done manually, and the transactions
are recorded paper-based and stored in wide binders. Although, traditional accounting is
relatively inexpensive and does not require machinery and technology, and also there is a higher
need for skilled personnel to do the same. The weakness of accounting done on a traditional
basis are inclusive of decreased speed, increased labour effort, comparatively low internal
reporting., delayed payments, untimely payments of overdue (Victoria ,2017). The traditional
accounting is very complex to consider the keep the reporting requirements and not suitable as
there is a requirement of timely information in regards to pricing and costing.
Available options
By considering the case scenario and issues of traditional costing, various options can be placed
to cope up with the situation and match the pace of requirements. The Walton Brothers have
initially required to make reduction in the manual labour work and must consider automation that
is best applicable in their filed. They can include a process such as Excel; even this step can save
their several working hours. This automation solution and integration of digital and
computerized tools can help them in improvising their speed and validity by automating the
routine transactional process (Kumaran, 2015). The automation can be considered though
leveraging a mixture of data standardization of procedures, rooted internal controls, and actual
reporting as well as dashboards, by this the Walton Brothers can be able to monitor the
performance an ensure process optimization. The automation software can also test the data, and
contrast the real-time results and produce comprehensive reports, a framework for the
automation process is inclusive of; data-driven, modular, hybrid testing framework etc. In
addition, the Walton Brothers can integrate Robotic process automation, to decrease their manual
process and complex labour intensive work, it acts as virtual personnel and substitutive repetitive
actions and adds reliability in reports.
Available accounting software
The best possible accounting software recommended to the Walton Group are; Sage Group and
Xero accounting software. The Sage Group offers a variety of business requirements inclusive of
accounting, HR, proper management of tax, income and expense which solves the issue of the