NAB Accounting Software Report

This report examines the transition of National Australia Bank (NAB) from traditional accounting systems to modern ERP solutions, specifically focusing on Xero. It details operational issues associated with NAB's legacy systems, including manual processes leading to errors and customer dissatisfaction. The report then explores Xero's capabilities as a cloud-based ERP solution, outlining its features and benefits. A flowchart illustrates the improved workflow with Xero. Potential problems with Xero, such as network dependency and security concerns, are addressed, along with mitigation strategies. The report also discusses the broader context of Accounting Information Systems (AIS), marketing aspects of accounting software (comparing Xero and MYOB), and limitations of the current system. Finally, recommendations are provided for optimizing NAB's accounting processes through the effective implementation and utilization of Xero's ERP capabilities, emphasizing improved efficiency, customer satisfaction, and enhanced financial control.

report

Executive Summary
The report focuses on the weaknesses with the handling of the different traditional accounting
system of the company with the Accounting Software solutions. The ERP based company chosen
is National Bank Australia (NAB). The bank mainly focuses on maintaining the ERP solutions
where MYOB, Xero, and Saasu is used for the improvement of the company shares.

Contents
Executive Summary.........................................................................................................................1
Introduction......................................................................................................................................3
Part A...............................................................................................................................................3
NAB Structure.............................................................................................................................3
Operational Issues related to Accounting....................................................................................3
ERP based Accounting Software: Xero.......................................................................................4
Flowchart.....................................................................................................................................5
Possible problems and issues.......................................................................................................5
Part B...............................................................................................................................................6
AIS...............................................................................................................................................6
Marketing structure and sizing....................................................................................................7
Leaders in Accounting Software.................................................................................................8
Limitations.......................................................................................................................................8
Recommendations............................................................................................................................9
Conclusion.......................................................................................................................................9
References......................................................................................................................................10

Introduction
The software of the accounting is based on the different applications where there are different
accounting data that are for the handling of the organisation. It includes the software record
transactions that is set on the daily basis with the proper recording of payment transactions and
the other generalised ledger. The accounting software standards are set on the different types
which includes the brand and the non-branded software. The preparation by the organisation is
mainly to make the proper use of the software along with working over the contexts of the
accounts.
Part A
NAB Structure
The National Bank of Australia need to work on providing the better banking services with the
country focusing on the different data that is related. NAB works on handling the different
banking services with the ATM services that is provided to its customers. The bank also requires
handling the different banking services which include the commercialised banking where NAB
focusses mainly on the use of the tradition system of accounting (Janvrin et al., 2017). The
system works on the paperwork with the view of the loss of data patterns as well. The NAB
works on the customer, products and the support with the centralised services for the Australian
business. It focuses on the leadership team with the existing and the external executives with the
set of the range of sectors. The new structure is based on the responsible forms with the front-
line sales and the customer relationship. The responsibility for the end-to-end product works with
the management and handling the risk integration, with IT and the other operational processes
into products. The positioning for the growth comes with the 12% of the cash earnings per share

growth in 2003 and 2004, where the investments with the leading business partner and outsource
provider.
Reference: https://www.businessinsider.com.au/andrew-thorburn-takes-a-knife-to-his-
executive-team-2016-7
Operational Issues related to Accounting
This includes the issues which are related to the errors in the NAB working of the system. Here,
there are times which include the transactions that are mainly due to the banking with the
traditional accounting methods. It works with the tasks that are done in the manual format with
the system creating the errors and working on handling the balance of the account. The
operational issues are also related to the techniques where the work needs to be handled with

customers reporting the accounting and the balancing of the figures. This leads to the customer
loss for the bank. The customers also, then, have to wait for the whole day to work and handle
their personal transactions.
ERP based Accounting Software: Xero
ERP as the database software package works on the support for the different business processes
and the operations. It includes the manufacturing and the working on the marketing, financial
and the other human resources department. The integration standards are set for the entire system
of the company. This includes how the departments and the processes are set with the operations
where the company is also committed for planning, training and implementing the ERP systems.
The use of the ERP works on establishing the general ledger account through the different
validation processes and the financial statement (Ferguson, 2017). Here, the ERP need to manage
the recording and the processing of the data with the functional areas which include the accounts
payable and the accounts receivable. The ERP systems works on providing a proper and a
complete service offering that will assist the organisation through the processes of the ERP
selection, implementation and the organisational change management. The pitfalls are set to
define the project selection with the patterns that help in hedging towards handling the project
cost ventures with the overruns. Here, the software is misaligned with the business needs and the
lack of return on investment. ERP includes the functioning where Xero is used for the cloud
based structures under the SaaS model. The services are managed based on the monthly
subscription. The data is related to the customers which can easily be stored online on the hard
drive or on the local hard drive of the system (Hoozee et al., 2017).

Flowchart
Reference: ProcessOn, 2017. Accounting Process Flowchart | Jacqueiline Martin |
Flowchart 流 ProcessOn.
The flow of work is based on different customers who come and invest in the bank. The software
keeps the record of the entire features of the system where the entry of the new customers along
with the other related process are evaluated based on the new entry of the customer. The
procedures are then affiliated to handle the system software conditions based on the banking
service growth (Rousseau et al., 2017).

Possible problems and issues
The issues related with Xero software works on the web based software which requires to
maintain a proper network connection. Here, the software does not require a proper and the full
administrator right as well to hack into the system. There are issues related possibly to the
hacking of the ATM services (DeZoort, et al., 2017).
The solution for this could be the firewall setting and handling the files on the local drive of the
system. A major step need to be enforced for the proper privacy which includes how the linkage
can be done so that the user can get the offline updates as well in the system. In order to maintain
the privacy of the system, the user need to focus on updating the data and deleting the data
depending upon the linking connection. Here, the connectivity is based on working over the
system links in a proper manner.
Part B
AIS
The AIS is based on the storage, collection, managing and then processing all the financial data
which could be used for different auditors and the regulatory processes. It also ensures the higher
accuracy level based on the company financial transactions that are mainly to keep the records
and work on the legitimacy that needs to access to the different standards of the secured data
patterns (Idm.net.au,2017). The AIS includes the different real-time applications with the
accounting information system which includes the people, procedures and the instructions. The
AIS includes and work on the different departments in the company to work towards the
management which can also lead to the notification of how the accounting departments are
payable. When the sales are made, when the customer service departments are able to track the

activities and the customer shipments for the same. The standards are set to handle and utilise the
business programming measures which include all the relevant details for the different sort of
business. There are options related to the email of the quotes and handling the administration
framework set with the stock, request and submitted as per the requirement.
Marketing structure and sizing
As per the research, it has been seen that the MYOB includes the different income per units,
where there are higher stirring rates for handling the increment with the customer life, gross
margins and the annual churn as depicted. For this, the calculations are done when they are
compared to Xero (Nab.com.au , 2017).
The client mixture with the spacing in the clouds is important so that MYOB can work on the
client based cloud system where there is only 16.8% and Xero has approximately 12% in
Australia.

Leaders in Accounting Software
Xero has been considered to be the leaders in the market which is one of the software based
company that is able to develop the cloud based solutions and the accounting software mainly for
the medium and the small sized business patterns. The company has been able to work on the
different products like SaaS models which are set with the bases and the types of the company
formats. With the changing formats and the features, Xero includes the indication of the current
money positions which are important for the different parties in the bank and to handle the deals
which are unpaid. For this, MYOB is also focusing on the customisation act with the
modifications based on targeting the business with the sum of data import and export.
The standards are set to meet the requirements, with the outlining of the records, things and the
other charges. This is important to focus on the articulations of the bank and improve the fare of
the business exchanges. Hence, for this, the major consideration is also on the different bank
feeds which work for a particular product range. The customers and the customisable formats are
for the changing notes and the proclamations which are set to make the different payable

standards and purchase the orders. The expenditure handling assertions are set with taking care
of the costs and handling the GST which is imposed on the exemptions with other revealing
elements. The GST auditing calculation logs and the capacity is set to measure the action
proclamations.
Limitations
As per the accounting frameworks, there are major limitations for NAB, where the bank has to
focus on the cost of the data which has been entered with the wrong choices. The utilisation
process with the controlling tenacities are to send the costs and offer the citation which bring in
the devouring by the finished results. The overhead recuperation rates with the machine hour
rate, work hour is for the ingestion processes with the designing and the reallocation that is based
on working and the functioning of the system. The system is based on working over the
innovation with properly creating a Bette business through the automation processes of the
manual works. With this, there are different parts of the cost which are settled through the far-
fetched methods and handling the accumulation and the arrangement for the better overhead
recuperation.
Recommendations
ERP based Accounting in Xero is important for handling the system architecture. With this, the
use of cloud computing operations using SaaS, with the use of oversee operations helps in
handling and diminishing any wasteful aspects. The upgradation of the profitability of the system
with the customer loyalty and the adaptability is mainly to control and work on enhancing the
correspondence with the joint efforts that are related to the business range. It also requires
matching with the increased and proper control for the different procedures as well.

Conclusion
The AIS is based on working and setting the procedures based on the cost data and the sales. AIS
includes the working with the other sales order procedures, payroll functions and the
information. Here, there are other amortization schedules which are for the facilitation of the
record keeping processes and the reports that are important for the decision-making activities.
AIS programs with Xero are important to handle the customisation of the different needs of the
system and the business of the end users. This will help in improving the IT infrastructure as
well.