ACCT605 - General Ledger Accounting Package Recommendation - 2019

This report recommends NetSuite as the general ledger accounting package for Burwood Health, providing a detailed comparison with SAP ERP and justifying the selection based on its integrated business software system, flexible dashboard, and strong market presence. The report analyzes the cost, technical requirements, and training strategy for NetSuite implementation, highlighting its ease of installation, flexibility, and timely updates. It also emphasizes NetSuite's report flexibility and includes sample financial reports. The analysis supports the conclusion that NetSuite is a suitable and efficient accounting solution for Burwood Health's needs, offering a balance of functionality and cost-effectiveness.

Running head: GENERAL LEDGER ACCOUNTING PACKAGE
GENERAL LEDGER ACCOUNTING PACKAGE
Name of the Student:
Name of the University:
Author Note

1GENERAL LEDGER ACCOUNTING PACKAGE
Table of Contents
Introduction............................................................................................................................ 2
Discussion.............................................................................................................................. 2
NetSuit............................................................................................................................... 2
Comparison of NetSuit.......................................................................................................2
Justification for selecting NetSuit........................................................................................3
Cost of NetSuit................................................................................................................... 4
Technical requirement........................................................................................................4
Training strategy.................................................................................................................5
Ease of installation of NetSuit.............................................................................................5
Frequency of updates.........................................................................................................6
Report flexibility..................................................................................................................6
Conclusion............................................................................................................................. 6
References............................................................................................................................. 7
Appendix................................................................................................................................ 8

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Introduction
This report “GENERAL LEDGER ACCOUNTING PACKAGE” is prepared to
recommend the suitable general leger accounting package. This report provide the proposal
of the accounting system to the Burwood Health accounting system. Here, this report
recommends the NetSuite Accounting System to the Burwood Health. To prepare the
proposal, this report analyse the comparison of the NetSuit with the SAP ERP. Further, this
report provide the justification of the selecting the NetSuit and then analyse the cost of the
package along with their technical requirement. This report also provide the training strategy
to the Burwood Health. This report also discuss the features of the selected general ledger
accounting package. This analysis provides the ease of the installation of the package along
with the flexibility of the system in the initial setup. This also states and analyse the
frequency of updates from the subsystems like cash receipts, payroll and invoices and same
likes. This also analyse the report flexibilities of the system that is ease of design the report.
Lastly, the reports provides the samples of the financial position and performance report
generated form the NetSuit software. The main objective behind this report is to recommend
the best available accounting system to the Burwood Health along with the full analysis of
the recommend system with the cost of the system.
Discussion
NetSuit
This is a business management software best for the enterprise resource planning
and the customer relationship management function. This is a horizontal package designed
for the extensive range of industry. This system of finance helps the company in the sales,
service process and the back office function reporting and analysis (Netsuite 2019). This
includes the implication of the financial account reporting, financial accounting, financial
analysis, payment management, billing management, inventory management and supply
chain management. This is a web based accounting system and runs on the internet
browser. The financial information of the NetSuite can be assessed though the web browser
even with the mobile device.
Comparison of NetSuit
There are sever accounting system available in the current market like the DENALI
Business, Sage Intacct, Deskera ERP, SAP ERP, Multiview, Sage Fixed Assets, NetSuit and
the AccuFund Accounting Suit and like. Here, this recommends the NetSuit to the Burwood
Health for the general ledger accounting package (Snellman 2017). To justify the selection of
the NetSuit, this report performs the compression of the NetSuit with the largest accepted
accounting software SAP ERP.

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The above compression chart shows the difference between the performance and
the function between the NetSuite and the SAP ERP along with the average performance of
the all other system available in the market. As per the above graph, the NetSuite is little
behind the SAP ERP but this the performance of the NetSuit is good compare to the average
of the other accounting system available in the market. This comparison consider the various
aspect of the performance like financial, Human resource and alike. This chart that the
NetSuit is better in the performance of the financial, human resource manufacturing, quality
and the product technology from the average performance of the all other accounting system
(Arachchi, Chong and Madhushani 2015). The rest where the software in legging behind the
average performance of the system, like manufacturing and other is not applicable for our
firm. Hence, this comparison shows that the performance of the NetSuite is better than the
other financial system.
Justification for selecting NetSuit
The following point, mentioned below provides the justification for selecting the
NetSuit to recommend the Burwood Health:-
 It is a wide integrated business software system. This maintains the proper balance
of product depth and application breath.
 This have a digital flexible dashboard that is very impressive.
 This provides the application and security based on the requirements of the firm. This
software provides a differentiated structure from the ERP system.

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 This is design to deliver the solution based on the customers demand though the
internet.
 This have a strong market base with the market leader in his field. The company
expends the $ 100 million in the advertisement and market of their product.
 This provides the solution to the several industry and vertical market.
 The software has the well design partner relationship management, which provides
the good lead distribution, commission management, joint forecasting and partner
performance matrix.
 With the limitation of the SMB companies, the e–commerce shopping cart of the
NetSuit provides the best solution in the SaaS ERP market. This provides the proper
solution for the e- commerce business like affiliate management, promotional URL,
marketing modular and alike.
The above points provides the justification for selecting the NetSuit to recommend as the
general ledger accounting package to the Burwood Health. As per the above points, the
NetSuit have the many advantages in the various aspect of the business.
Cost of NetSuit
The cost of the NetSuit to adopt in the accounting system of the firm is depends on
the several terms. As the NetSuit provides the flexibility in their products and develops as
per the requirement of the customer, hence the cost of the product mainly depends on the
configuration of the product, the number of the total user, the duration of the contract and the
required modules (Bradford 2015). The base license price range of the NetSuit started from
the $ 99 per month to $ 999 per month. As the Burwood Health is in its initial stage and does
not have a large employee and customer base, hence the firm can adopt the small version of
the NetSuit software. The smaller version or the basic version of the NetSuit should be
enough for the Burwood Health after developing the business the company can be for the
advance version of this recommend general ledger accounting package. As per the
requirement of the firm for the financial system and the price range of the software, this
report estimates this will cost $ 150 to $ 200 to the company approx. This can be easily
affordable by the firm as it is below to the average cost of the other available system in the
current market (Nguyen and Pham 2016). The license of the NetSuit is works on the
subscription model and provide the opportunity to renew the subscription model annually or
over longer duration.
Technical requirement
The technical requirement of the NetSuite is not very vast. The NetSuit requires
easily available technical assessment to perform the financial accounting and analysis

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function (Betchoo 2015). The desktop requirement to run the software is that the computer
must have the minimum 1GB of RAM and the 1 GHz processor. The display resolution of
1024x768 or higher is recommended. The minimum colour quality is 16 bit and optimal
colour is 32 bit is required. The minimum requirement of network and connectivity is 128
kbps is required while the 256 kbps is recommend. The additional requirement is that the
browser must be install in the vendor- supported environments like internet explorer, Google
chrome, Mozilla Firefox and it alike (Sanghvi, Zizys and Rajarajan 2016). Further, for the
support for transport layer security the latest version of the browser is required, Cookies and
the JavaScript must be enabled and the popup blocker must not be disable. Further, this
recommends to maintain only one browser preferably Google Chrome and the pop- up
should not be blocked for the best experience.
Training strategy
This report suggest the following three steps to the management of the Burwood
Health. To train the employee about the usage of the NetSuit the management of Burwood
Health need to follow the follow the following three steps:-
 Explain the need of NetSuit: - The management of the Burwood firstly need to
explain the reason behind adopting the NetSuit for the accounting (Bedford, Malmi
and Sandelin 2016). The management need to explain the benefits and the
advantages of the new system for them and for the organisation.
 Instruction: - After explaining the benefits and the advantages to the employee, the
management need to instruct the process of implication. The management need to
explain the operation of the NetSuit properly to the user of the system. The NetSuit
software company also provide the various videos related to the training to use the
system properly (Venkatraman and Fahd 2016). The management need to refer
those videos and the other training material provided by the firm to train its employee.
The proper training is must for the efficiency in the function of the NetSuit.
 Monitoring the progress: - After providing training and implementing the system,
the management need to track the performance of the employee in relation with the
usage of the NetSuit. If any issues arises in the operation of the system then
management need to meet the issue by providing the additional training to the users.
Ease of installation of NetSuit
The installation of NetSuit is as easy as one click. The firm only need to purchase the
license of the system. Then in one click, all of the contents of the SuitApp will automatically
be insert in the account of the purchaser and all the related functions of the NetSuit become
available for the user (Maskell, Baggaley and Grasso 2016). Further, all the customization

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and solutions automatically forwards with the new updates of the software. Not only in
installation this system also provides the ease in the uninstallation of the application by just
clicking the uninstallation like. This system provides the time saving and ease in the
application of the software that provides various benefits to the firm.
Flexibility
This NetSuit come up with unprecedented flexibility not only at the time of installation
but though out the contract period. The software grow with the growth of the organisation.
The system is design as per the unique business requirements and the specific industrial
need (Stafford, Wang, Syler and Islam 2018). This also prove the update option to its user
though out the contract period. The firm can also customize the software as per their specific
requirements. The software not only proved the flexibility in their design and function but also
in the cost. This flexibility in the cost of the software helps the firm in the initial adaptation
time.
Frequency of updates
The NetSuit provides the flexibility in the updates timely. The user of the system can
modify the update time easily anytime during the period of contract. This is very flexible in
the every aspect of its performance, function and cost. The user firm of the software have
the option of update as the weekly, monthly, quarterly and yearly (Drangmeister 2019). The
firm can easily choose any option as per requirement of the business. This also provides the
freedom to the user to change or modify their choices.
Report flexibility
As discussed above, the NetSuit is fully flexible and customizable. Hence, this also
provides the flexibility in the report preparation. The various financial report can be easily
only by clicking the generate report option. This help the firm to generate every type of
accounting report for the required period. This proved flexibility and freedom not only in
report preparation but also in other accounting and management function.
Conclusion
The report concludes that the NetSuit is one of the best option for the Burwood
Health. Hence, this report recommends the NetSuit ERP to the Burwood Health to adopt as
the accounting. The NetSuit is good in the function and performance compared to the
average performance of the other accounting software available in the market. This has
various advantages in it terms of performance. The cost of the package is also
comparatively low and estimated between the $ 150 to $ 200 approx. The technical
requirement of this software is also very low and can be install in any computer easily. The

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training of this software can be easily execute by performing only three steps explained
above. This system also provides flexibility in each and every aspect like cost, report,
installation and update frequency. This provides ease in the implication of the system as well
as in generating the report.
References
Netsuite, 2019. Business Software, Business Management Software – NetSuite. [online]
Netsuite.com. Available at: http://www.netsuite.com/portal/home.shtml [Accessed 12 May
2019].
Snellman, D., 2017. Difference in Cloud ERP Systems: A comparison.
Arachchi, S.M., Chong, S.C. and Madhushani, A.G.I., 2015. Quality assurance and quality
control in erp systems implementation. American Scientific Research Journal for
Engineering, Technology, and Sciences (ASRJETS), 11(1), pp.70-83.
Bradford, M., 2015. Modern ERP: select, implement, and use today's advanced business
systems. Lulu. com.
Betchoo, N.K., 2015. The need for accounting training packages for small-scale firms in rural
Mauritius. Advances in Social Sciences Research Journal, 2(7).
Sanghvi, A.J., Zizys, G. and Rajarajan, V., Microsoft Technology Licensing LLC,
2016. Applying packages to configure software stacks. U.S. Patent 9,354,904.
Bedford, D.S., Malmi, T. and Sandelin, M., 2016. Management control effectiveness and
strategy: An empirical analysis of packages and systems. Accounting, Organizations and
Society, 51, pp.12-28.
Venkatraman, S. and Fahd, K., 2016. Challenges and success factors of ERP systems in
Australian SMEs. Systems, 4(2), p.20.
Stafford, T., Wang, T., Syler, R. and Islam, M., 2018. Analytics for Accounting Information
Systems Applications.
Maskell, B.H., Baggaley, B. and Grasso, L., 2016. Practical lean accounting: a proven
system for measuring and managing the lean enterprise. Productivity Press.
Drangmeister, W., Ridgeway, R.B., Stock, K. and Call, C.J., Fin Box Technologies Inc,
2019. Methods and systems for efficient delivery of accounting and corporate planning
services. U.S. Patent Application 16/018,070.

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Nguyen, L.B. and Pham, L.T., 2016. Accounting software selection: The relationship
between selection technique and outcome. Science and Technology Development
Journal, 19(3), pp.5-17.
Appendix

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