MYOB is one of the best Australian multinational corporation which is based on providing the tax and the accounting depending upon the services that are provided to the different small and the medium based organization. Here, the focus of the company is mainly to handle the intellectual property development with the emphasis on the software development and to work with the business management products. The company can provide with a better return to the ownership where the private majority is set to continue to the shareholders in the company. MYOB is considered to be the best company which can handle the subscription based products with the browser accounting products that are for the cloud-enabled versions. Herr, the size and the scope of the company is now able to outgrow the system with the technology and the development of the software. (Black et al., 2013). The processes are based on the management, sales and the inventory in an effective manner. Here, the gradation is mainly for the tracking of the sales, with the profits and the orders. The formats are related to the stock that has been collected on demand with the accurate supply of the needs to manage the system with the records of the client. The enabling of the system technology will help in saving the time and the financial resources in the effective manner, where there is a minimized form of the concentration on the integration process.
MYOB works on handling the operational issues and the inconsistencies in the system, where the people are trying the work on handling the customization of the sales screen, payment types and the fields that have been set to enter the market with the faster sales and the intuitive version. MYOB retail manager works on taking the stocks for the business with the easy management and the connection to the POS hardware. (Saeed et al., 2013). The acquisition methods set for the MYOB is ERP with the enterprise resource planning to work on the different features which are related to focus on the cloud-based accounting. Here, the ERP is set with the MYOB EXO where the business planning and the growth will help in building a proper process for the business management solution. The program tends to provide with the insight that the inventory and the project costing have to be held with the human resources and the planning with better operations. The reports are mainly for the deep views which aid the planning and works on the multiple add-on processes that include the customer relationship management and the point of sale. The setup is of the different forms which include the job recruitment and the timeclock patterns with the employee service information. The advancement of the system with Australian and New Zealand business includes the combination of the full accounting with the ERP set for the designing of the growth and a higher degree of the customization. MYOB focus on the customized version with the online resource areas which is for the community forums. The standardized setup is based on providing the system with the cloud and the on-premise solutions where the five modules are generally to add the services and then support as per the needs of the system. This is based on the business size and the other forms of the geographic locations. MYOB is set with the solutions where the professionals can use the different practices to handle the resource area and the community forums. (Mohamed, 2013). The standards are based on working over the regional training locations in Australia.
Evidence of Research
The company mainly focuses on the sales register and the other entering of the sales which includes the receiving of the payments as well as the printing of the email and invoices. Here, the sales are mainly depending upon the transaction journals with the printing of the receipts where the analysis is based on working with the sales procedures in an effective manner. The company focus on handling the which with the built-in scheduling and the document management system in an effective manner. (Henny et al., 2013).For this, the customers are required to work on the picking and the delivery of the system where there is assigning of the stock to the different groups as well. With the change in the storage of the multiple pricing, the locations are set with the average, standard and the cost costing. The recording of the sales order with the proper setup of the general ledger accounts will help in analyzing the sales with the conversion of the sales order to the sales invoice. There are formats which are for the MYOB software that enter the sales transaction with the different types of the records. The conversions are from the sales order to the sales invoice that is set for the recording of the credits as well as the other cash sales using the invoice. The sales returns are for the selling of the inventory to the customers, where there are times to plan on how to handle the returning of the items which also includes how the sales return is recorded for the MYOB software. For the proper setup of the task, there are transactions which are important for the general ledger accounts where the balance is for the customer account to handle the different types of the sales transactions. The forms are set to take hold of the credit sales with the record of the cash sales that have been with the sales invoice. There are Invoice tabs to handle the system functioning along with the proper delivery of the order with the accurate checks of the invoices. (Black et al.,2013).
There is a need to also control the accounting information system in the different companies as there are problems related to the control and how the trusted employees plan to do the fraud in the company. There are incidents where the people tend to use the fake names and the profile ids of the employees who are not working in the company and then connect the payment to their bank account. Along with this, it is also seen that the people try not to delete the data of the employees who have left the company and then try to use their details so that they can easily link their bank accounts to their ids. (Mohamed, 2013).
The Accounting Information Systems are set with the collection, storing and handling the different researches which are based on including the investors, creditors and the taxation authorities. The accounting information system is mainly for handling the investments with the payroll activities. The forms are set to evaluate the decisions that have been made by the information system as well as the other auditing and financial reporting modules. It has been seen that the accounting software and the packages are for the handling of the costs with the complexity of the system. Hence, for this, there is a need to work on the packages accounting software which is not only for the records or the process to the financial data but also includes the functional modules for the system. (Henny et al., 2013) The major focus has been on the large organizations which need to work on the connectivity and the consolidation that is set in between the organizations with the increased forms of the accounting system. The centralization with the applications is set to handle the system development with integration that includes the cloud-based applications for the accounting information system.
The accounting software in Australia has been able to cover the different technology with the advancement to review the changes with the competitive edge that is set for the software packages and the accounting software. There are different challenges which are related to work on the system development as well as the improvement in the strategy for the software packages. It has been seen that Xero is the best company which can cover all the problems and use the cloud computing technology for handling the system setup. With this, it is seen that there are different forms of the system functionalities that are for feasibility approach in 1973 and is set for the development of SAP RF which could easily be handled through the wider range of business operations. The Peachtree is for the accounting firm where the standards are also set to improve the value of the company with the integrated forms of the office suit. This also enables the users to work on the expansions of the integrated office suit which has been set with the Teleware company. There are different challenges that have been set to take hold of the New Zealand accounting company Xero. It works on involving the people with 1622 small business and have been able to check on the Australian small business with the adoption of the accounting software. (Bradshaw et al., 2012). The process works on the sales ledger that works on the handling of the petty cash ledgers as well as the trial balance to adjust the different entries as well as the other trial balances to work on the financial development. ERP is the system which includes the accounting technology with the information set to handle and set the manufacturing, supply chain, and the human resources. The cloud-based accounting information system helps with the development of the lower organizations for a better growth and at a lower cost. The forms are transactional with the operational accounting roles where the processing could be mainly through viewing the functional users and working on the mobile devices, web browsers as well as the other client applications. The system is based on working with the centralized standards where the data is stored to handle the purchasing, inventory and the accounting of the data. The transactions occur when there are configurations based on the accounting information with the accounts that are payable for the clerks to enter the invoice and work on the system for the storing of the same in the database. The major achievement is the computer-based accounting information system which works on the streamline reporting with the development set for the advancement in the modeling as well as the support of the data mining. The accounting competition is for the smaller and the medium based organizations, where the market includes the companies that have been taken into consideration for the cloud sharing of the accounting software market. (Laing, 2013). The company then offers the standards where the users are for the desktop accounting software. The company focus on the accounting with the challenge that could not reconcile the accounting reports from the other departments which are mainly due to the incompatibility of the formats and the duplication.
The system includes the RFP which is for the detailing of all the requirements that are for the vendors to ask about the information with the selection of the software products that help in easy infrastructure and development. The organization also need to make sure that one works to control the input files with the sampling of the master records in an effective manner.
For the proper standards, there is a need to use the cloud computing techniques that will help in properly handling the information with the focus on the characteristics which are based on the controlling of the data. The risks are related to the cybercrimes with the information assets that are based on handling the advantage, efficiency and the information security with cost effectiveness. The accounting software is considered to be remarkable with the development of a better computer language. (Horngren et al., 2012). The forms are set to handle the small and the medium based organization with the accounting standards to take hold of the encryption for the proper accounting.
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Bradshaw, A., Pulakanam, V. and Cragg, P., 2012, January. IS Implementation and the Creation of Knowledge Assets in SMEs: the Impact of Consultants. In ICSB World Conference Proceedings (Vol. 2, No. 1, p. 1). International Council for Small business (ICSB).
Henny, H., Lianawati, C., Hari Setiabudi, H., Diana, Y. and Merlin, S., 2013. EVALUATION OF UTILIZATION INFORMATION TECHNOLOGY ON KOPWANI ACCOUNTING INFORMATION SYSTEMS USING COST BENEFIT ANALYSIS AND GAP ANALYSIS.
Horngren, C., Harrison, W., Oliver, S., Best, P., Fraser, D. and Tan, R., 2012. Financial accounting. Pearson Higher Education AU.
Laing, G.K., 2013. Service learning: An auditing project study. International Education Studies, 6(1), p.174.
Mohamed, Z., 2013. The Perception of Small-and Medium-Sized Enterprises (SMEs) on the Importance of a Proper Accounting System: Malaysian Evidence. Journal of Modern Accounting and Auditing, 9(10), pp.1302-1321.
Saeed, U., Intuit Inc., 2013. Weighted performance metrics for financial software. U.S. Patent 8,621,437.