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As a Chartered Accountant you operate a small accounting practice.  In addition to providing accounting and tax compliance services, you also advise on accounting information system selection and implementation. Your business associate introduces you a new client, David Murphy, who seeks your assistance in selecting an appropriate accounting software for his business.  

David was working as the marketing manager of a leading sportswear manufacturer for the last 15 years. Now he wants to be his own boss, and just started his own business called Sporty U. David intends to buy sportswear from local and international manufacturers and distribute to wholesalers and retailers throughout New Zealand.

To start with, the business will hire 3 employees: one is responsible for procurement and warehousing, one for sales order processing, and the other one for office administration.  David’s role will be to source suppliers and customers and maintain relationship with them.  In addition, he also wants to keep the accounting records himself.  Although he has no formal training in accounting, he believes most accounting packages should be easy to use.  

As some of the suppliers are overseas, David expects that he would have to go overseas quite often and ideally he could have an accounting package that would allow him to do the accounting work while overseas.  He intends to ask your firm to handle the tax returns for his business.

Upon request, he provided you with the following additional information:

•    The business will stock approximately 700 inventory items and he needs to know stock on hand at any time so that he can answer enquiry from customers.
•    David would also like to have timely reports on inventory status, customers and suppliers ageing reports so that he can manage the cash flow and to follow up with slow paying customers.
•    The business now only has 3 employees, it is not important to have a computerized payroll software immediately.  However, he expects that his business will grow quickly in the next couple of years when the firm will need to hire more staff to cope with the business expansion.
David told you that he wants an accounting package that is not too expensive, user friendly (even a person with limited accounting knowledge can use it), and with good security control.  He has heard of two popular accounting software: MYOB and Xero, and is unsure which one is more suitable for his business.

 
REQUIRERD
Write a business report to David comparing the two accounting software, and in particular your report should cover the following:
1.    Modules and functions;
2.    Ease of use;
3.    Security and control;
4.    Report availability;
5.    Costs; and
6.    Your recommendation as to which accounting software is more suitable for his business, with justification.

Business Management

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