The company chosen is MYOB which is one of the best Australian Accounting company which works on the taxations, accounting in an efficient manner. It has been able to handle the management of the products based on the Accounting edge basics and the network editions in an efficient manner with the suite of subscription-based products and the browser products as well. (Dunbar et al., 2016). MYOB has been able to work on proper management of the finances with the boosting of profitability and making the decisions that are for the real-time view formats of the finances. The company tends to save the time, with increased productivity and spending the time with the ATO complaints. With this, the software can record and measure the accounting transactions that have been mainly for the inventory and the payroll calculations. The setup for the business is related to the third party standards to work on the varied cost complexity.
The operations are mainly related to the inefficiency and the security of the data where the primary concern is about handling the vulnerability to the hackers, fraud and the other threats. The MYOB includes the security standards with the design to implement the best practices in the industry. (Blount et al., 2016). Along with this, the focus is on handling the security standard controls with approvals based on organization workforce along with avoiding the employees to continue in the inefficient manual process. The company needs to offer the different forms of webinars for the users. There are also certain issues related to the smaller transactions and the other concurrent users who work on the primitive database patterns. The performance could be improved through the MYOB users and the database that will be mainly working towards the better development of the routines along with optimization process that tends to take a long time. The smarter way is to optimize the data and work on the system standards with better flexibility for the reporting standards. The companies need to discuss how to process the data when it is done along with producing all the necessary reports that contribute to the marginal development. (Ayousef et al., 2017).
MYOB works on the ERP standards which are for the better field service staffing along with focusing on the effectiveness of the system. The system can provide the easy accounting and the GL functions that are for the different locations, divisions and the branching support. The management is based on fully integrated standards with the Customer Relationship Management to handle the advancement in the stock and the foreign currency management. The extensive measures are based on the landed costs and the shipments to track, integrated jobs and the project costing functionality. This is mainly for the payrolls, time and the attendance for a proper human resource management. ERP software is primarily for the inventory management and streamlining the sales and purchasing, accounting and more in an accountable and scalable format. (Ran et al., 2016). The ERP is set to provide the customized and the scalable platform for the people to eliminate the needs of the ongoing hardware cost. The access is mainly to the cloud payroll solutions that helps in growing and enjoying the benefits of the unified systems with the sharing of information for a better business development. The access is mainly to the powerful cloud payroll solutions that will help in growing and enjoying the benefits that are for the sharing of the information and taking hold of the business. MYOB Advanced is implemented with the network of the expert with the business partners, in and around Australia and New Zealand. The accredited partners can utilize the ERP experience for delivering the tailored solutions which are based on the best practices. A better value is for the servers to manage and then reduce the IT overheads. MYOB works on the advancement of the growth with the convenience to the monthly pricing plans. (Sage, et al., 2016).
The methods of the sales are mainly based on handling the entry of the sales, printing and managing the transactional journals of the system. MYOB also works on the easy customization with adding invoice format, adding the logos and the specific instructions. The additional lines, headers and the subtotals are for the invoices with creating a memo that includes the track of the referral sources with the sales transactions that are recurring for the repeated use. The printing and the email sales quotation with delivery orders and invoices to the customers. (Ran et al., 2016). The use of the sales register is mainly to view the sales status to work on the different quotations, orders, and the products. For this, there are standards related to the lookup; it is important to set and enforce the customer credit limit and then place the customer accounts on hold.
The controlling problems are related to work on the computerized system functioning with the better functioning of the purchase orders as well as payroll. The collation is mainly through the focusing on the employees. There are different issues with the trusted employees, where they are seen to share the information of the company with the competitive company, changing the data entry of the salary, making a fake account of the other person for the salary. It has been seen that the people use the details of the fake employee and join the bank account to their name as well or does not delete the entry of the name of the employees who have left and tried to take money in their bank accounts in their name. The fraudsters are suppliers of all the false purchase in the system with the risks that leads to the creation of fake invoice as well as altering the payments of the customer.
The accounting software package has been set when IBM was able to develop 9PAC which also allowed the users for the better storage and the access of the structured data as well. The setup of the accounting standards is based on working towards the better company trends along with conducting the study for the different people that leads to the adoption processes. (Zhang et al., 2016). In a modern world, it has been seen that the packaged accounting software is not restricted to the recording or the processing of any financial data. This also includes the functional modules with the use of the managerial decisions that is intended to bring a change with the competitive edge. The standards are based on providing the managerial decision process with bringing the competitive edge. The remarkable standards are set for the advancement in the technology, with the focus on working with the limited intermediaries. Here, the forms are set with advancement in capability, with the ideas set to reflect on the accounting systems where there is a flexible functionality to bring a change in the faster decision-making process. The dimensions are set for the accounting applications with a friendly user interface wherein 1993, Delaware works on striking accounting package with the attention of the Best Software development.
The adoption of the accounting is set with the involvement of the 1622 small business patterns with the Australian small business which includes the applications for operations in the cloud infrastructure. The operations are set through the user interface with the web browser works on the transformation of the landscape of IT by bringing enhanced cost effectiveness, with time to market, innovation along with a scale to demands. The focus is on the enhanced security formats with the standards and technology for cloud computing. The authentication of the services and the users is based on the characteristics and the credentials that will be helpful to work on carrying out the authentication of the services with the use of the different services and the characteristics. (Nkosana, 2016). The forms are set to work on the approach to the expansion of controlling data and the security in the cloud.
The company has been able to work on the small and the medium size business with the integration focusing on the identification of the gaps and working with the accounting departments. It includes the collection, processing of the data and maintenance of the books in the effective manner where the major focus has been on the challenges with the desktop accounting software and duplication. The annual reconciliation accounts are tedious with the time consumption issues, errors and the inconsistency to the system. The use of the accounting system for the desktop and the data redundancy is the major issue where the Australia need to use the cloud accounting for the proper setup of the software.
The standards are set for aligning the competitive advantage where the company has been facing competition on Xero, QuickBooks who are the leaders in the market. The changing perceptions of the different business effects include the issues with the support of the micro to the medium sized forms. The competition is mainly based on the acquisition of strength the gap and contribute to the profit. (Abhayawansa et al., 2016). Hence, for this, there is a need to integrate the system planning with the accuracy of the data which is based on the reviews based on the bank feeds set to hold the specifying needs. MYOB also works on the management of the business, accounting and the payroll system which includes the working through identification of the gaps.
The competition is increasing with the changes in the system of the accounting market software. With this, all the SME are working on cloud accounting software where the users are mainly for focusing on the challenges with the non-autonomous department units. The standards are based on the entrusted formats with an easy collection, processing, and the data maintenance. The accounting procedures are set with the hold of the formats and the duplication process in an effective manner. The reconciliation of the annual accounts is also with the consumption of the time, error and the system inconsistency. The forms of the accounting with a redundancy of the data is important and needs to consider the changes with the capability integration process. The setup of the striking accounting package is set with the involvement of the adoption of the simplify data stores with the intention that includes the forms and the intention for the different dimensional applications.
The applications should work on SaaS where the accounting is mainly for the free API for the third party vendors which includes the unified process for the ledger process. The capability is mainly to provide the users with the applications as well as the other operating models that works on operating through the thin user interface. The forms are set with the simple web browser process, where the cloud computing works on improvement in the cost effectiveness along with the faster time to market, innovation and demand. The standards are for the users where the security measures are set like the firewalls, users which are not secured with any unauthorized access by the foreign parties. (Watty et al., 2016). With this, the risks of the cyber crimes to the information asset are mainly associated that includes the Identify Management measures to carry the process of authentication of the services and the users who are based on the characteristics and the credentials. The forms should be set with the information-centric pattern where the approach relies on working towards the handling of the security and the cost effectiveness process as well. Australia is considered to be the third biggest software provider which can characterize the market with the ever growing needs of the business for the small and the medium scale.
Abhayawansa, S., Abhayawansa, S., Guthrie, J. and Guthrie, J., 2016. Drivers and semantic properties of intellectual capital information in sell-side analysts’ reports. Journal of Accounting & Organizational Change, 12(4), pp.434-471.
Alyousef, H.S. and Alsharif, A.A., 2017. The Experiential Meaning in Saudi Postgraduate Business Students’ Multimodal Accounting Texts: A Multidimensional Exploration. Australian Journal of Linguistics, 37(2), pp.219-251.
Blount, Y., Abedin, B., Vatanasakdakul, S. and Erfani, S., 2016. Integrating enterprise resource planning (SAP) in the accounting curriculum: a systematic literature review and case study. Accounting Education, 25(2), pp.185-202.
Dunbar, K., Laing, G. and Wynder, M., 2016. A Content Analysis of Accounting Job Advertisements: Skill Requirements for Graduates. The E-Journal of Business Education & Scholarship of Teaching, 10(1), p.58.
McGrath, D. and Murphy, D., 2016. Understanding accounting as a career: an immersion work experience for students making career decisions. Accounting Education, 25(1), pp.57-87.
Nkosana, T., 2016. Use of information and communication technology (ICT) and e-commerce in small remote hospitality establishments in KwaZulu-Natal (Doctoral dissertation).
Ran, A.S., McGloin, D.C., Gosby, D.D. and Tripathi, A., Intuit Inc., 2016. Dynamic application identifier for use in an update workflow. U.S. Patent 9,256,418.
Sage, R.G., Intuit Inc., 2016. Executable code generated from common source code. U.S. Patent 9,454,390.
Watty, K., McKay, J. and Ngo, L., 2016. J. of Acc. Ed.
Zhang, Z., Nan, G., Li, M. and Tan, Y., 2016. To Lead or to Follow? Market Entry and Pricing Strategies for SaaS Provider.
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