The Significance of Automated Accounting Systems

Added on -2020-02-19

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Running head: ACCOUNTING INFORMATION SYSTEMS
Accounting Information Systems
Name of the Student:
Name of the University:
Author Note:
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ACCOUNTING INFORMATION SYSTEMS
Executive Summary
This study had been conducted to highlight the significance of automated accounting systems
and how far it is important for any business enterprise to implement it for recording financial
transactions. From the case study of B Bakery firm, it was noted that the bakery firm still uses
manual accounting system for recording accounting transactions that generate lot of error and
time consuming at the same time. To deal with this problem, the current study properly suggest
B Bakery all the available options present in accounting software packages and conducting
proper comparison as well that best suit the business requirements. It is suggested to B Bakery in
selecting medium-end accounting software as that does not cost much in comparison with high-
end software. B Bakery is a small family owned business, so investing lot of money in
implementation of accounting system is not possible, so keeping that in mind, medium-end
accounting software was suggested to the bakery firm. After that, it is now important select the
best accounting software packages and the available options that are discussed in the study are
XERO, MYOB and DacEasy. On comparing all these three accounting software, it is suggested
to B Bakery for implementing MYOB accounting software in their business as it is user-friendly,
easy to operate, capacity to generate 175 reports and many other unique features that are needed
for the case study company.
Table of Content
3
ACCOUNTING INFORMATION SYSTEMS
s
Introduction......................................................................................................................................3
Question 1........................................................................................................................................5
Defining the work of Baker and its description of business process...............................................5
Part A...............................................................................................................................................5
Business Process of B Bakery.........................................................................................................5
Question 2........................................................................................................................................6
Identification of business requirements...........................................................................................6
Part B...............................................................................................................................................6
Indispensable business process........................................................................................................6
Part C...............................................................................................................................................8
Suitable outcomes of the business process......................................................................................8
Question 3........................................................................................................................................9
Determination of system requirements............................................................................................9
Part A...............................................................................................................................................9
Question 4......................................................................................................................................12
Part A.............................................................................................................................................12
Determination of adequate software..............................................................................................12
Part B.............................................................................................................................................12
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ACCOUNTING INFORMATION SYSTEMS
Adequate accounting software selected for the firm.....................................................................12
Question 5......................................................................................................................................14
Selection of suitable vendor...........................................................................................................14
Part A.............................................................................................................................................14
Comparison among various accounting software packages..........................................................14
Part B.............................................................................................................................................18
Selection of most suitable vendor..................................................................................................18
Conclusion.....................................................................................................................................19
Reference List................................................................................................................................21
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ACCOUNTING INFORMATION SYSTEMS
Introduction
The main aim of the assignment is to discuss the aspect of accounting information
systems as it directly help in keeping track over the financial activities of any business enterprise
in the most appropriate way (Worrell, Wasko & Johnston, 2013). In this current competitive
business environment, it is important for business enterprise to apply accounting information
systems as it had become a necessity of its own and provide lot of benefits associated with it.
Most of the business enterprise already finds it useful to implement accounting information
system in their operating activities that will make them ahead of competition from the nearest
competitors in marketplace. In that way, the present study defines the need of effective
accounting system for the firm B Bakery. Currently, B Bakery is following manual form of
accounting systems for recording of financial transactions that is quite time taking and
troublesome sometimes as it involves human effort and all the transactions are held manually. In
order to remain ahead of competition, the study recommends B Bakery to use automated
accounting software in their firm so that they can keep track of all the financial activities in less
time and with high level of accuracy that was not possible with manual accounting system
(Abduljalil et al, 2015). To explain in details, there are different accounting systems and
accounting software that is present and varies in terms of risk, sustainability, complexity and
many other factors. All these accounting software are evaluated for B Bakery based in its
limitations and advantages and suggested the best suitable accounting software that will help the
firm to track its financial transactions without any hassle. At the end, it becomes clear that using
automated accounting software will help B Bakery in solving all the issues that they are facing
currently as they are using manual accounting system (Williams, 2014).
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ACCOUNTING INFORMATION SYSTEMS

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