Standardized Financial Software

1.Identify the organizational need for the system 2.Identify the key features and functionality of the accounting information system?

 

 

Introduction

The chosen organization is QuickBooks which has been able to focus on the standardized financial software for the small business. The company has been able to handle the different operations with the right choice to handle the rapidly growing business with the sustainability and the acceleration of the growth. The company focus on handling the lack of the capabilities where the growing business needs to focus on the real-time visibility with the essential information of the system.

1. Organizational need for the system 

Considering the organizational needs of the system; there is a need to check on the integration of the applications with the focus on:

1. Adapting the cloud-based solution where the cloud momentum has been accelerating, and the cloud is becoming to be the major requirement of any company. With this, there is a need to focus on the representation of the different opportunity which enables the business leaders with the better delivery of the outcomes, in a faster and a cheaper usage of the resources. (Biafore, 2013). The companies are growing with the limitation to the IT resources. Hence, for this, the cloud solutions are set to maintain the on-premise application of the hardware and the software. The cloud systems are mainly for enabling the mobility where the workers tend to work on the device with the Internet access to hold the scalability with the growing companies that will accelerate the growth.
2. The consideration of the suite with the complexities that could easily be matched with the applications at the time of replacing QuickBooks. There are different companies which focus on handling the needs as well as working on the needs to work on different solutions. The integrated standards are set to manage the data with the dual data entry which is eliminated when the information is stored in the signal or the centralized form of the data repository. The forms are for the enabling of the companies to start with the basics with the addition of the complexity set over time. (Carey, 2013).

The team members need to hold the functions where the employees rely on the spreadsheets with the fulfillment of the information gaps. Along with this, there are functions for the multiple manual processing that sets the sales orders with a reconciliation of the customer information in the manual format or through the management of the multiple systems. The errors are mainly based on the inevitable approach with the decisions that are made for the out of date or any inaccurate information.

2. Key features and functionality of the accounting information system

The accounting information system is based on the description of the steps where there is a proper designing of the system and the analysis for the first applications. Here, AIS mainly focus on the identification, measuring and the communication of all the information with the decisions that have been made by the users for the particular information. The accounting formats are set with the reporting to the statutory bodies like the tax authorities or the regulatory framework. Some of the important features are:

1. To meet the demands and the needs of the statutory reporting of the organization. For this, there is a need to manage the risks with the possible stemming that comes from the abuse of the accounting data or the systems.
2. The accounting information deals set with the stock exchange with the promotion of the trading, statutory authorities and the other external processes. (Lamber et al., 2015).

The internal users need to focus on the management level with the adequate use of the accounting information that has been set for the controlling and planning of the information. There are different groups which are for the accounting and is set to handle the well-structured information system. The different groups are for the people who are interested mainly in the standardized information with ensuring the consistency of the information. The procedures are involved in the process to make the accounting data effective with the hold of the external uses which are mainly set by the statutory bodies. There is a need to primarily handle the different standards which work on the forms of the budgets and the forecasting of the information. The source of the data is based on the internal enterprise setup where the database is also integrated and controlled with the orientations based on the profitability of a company.

There is a need to work on the different procedures and the policies through the instructions set for the rules as well as the other accounting data. The policies are based n the system access to handle the budgetary control of the system where the AIS has been able to function in the manner, where the data is considered to be the important information asset. The data management and the enhancement of the software is based on working and developing the designs where the financial accounting is mainly to work on the system standards with the governance and the internal control. (Nelson, 2012). The IT infrastructure needs to deal with the hardware platform which acts as the medium to handle the accounting information with the parts of the management functions. This includes the management of the information in the efficient and the efficiency manner. The QuickBooks focus on the sales orders and the order entry so that all the invoices are a paper base. Here, there are performances based on the growing needs of the customer with handling the approval processes that are slow and completely disjointed.

3. Different functional areas of the organisation

The accounting information system is considered to be the way of collection, storing and processing the information that is mainly used by the decision makers. For this, the focus is primarily on handling the technology as well as the other resources which are related to the management of the costs and the investors, creditors and the tax authorities. (Pecchair, 2012).

ERP system works on QuickBooks which includes the management and integration of the components of the business, which includes the marketing, accounting, sales and then delivering the manufactured based products. The enterprise offers the flexible change with the cost justification with a better growth of the company that integrates the accounting which affects the accounting, like the inventory and the payroll systems. The setup is based on the end-to-end solutions for the companies who tend to enter the mid-size market, where the forms are involved in the financial decisions with appropriate delivery of the tailored reports. The enterprise solutions are set with the management of the key workflows where the environment development is through the advanced inventory tracking and the management. It works on the system features with the functionality growth that works on the enterprise development which also helps the companies with the information to the individual decision-making process. The QuickBooks are set with the addition of the powerful tools that tend to integrate the payroll and the payments, with the field service management, inventory and to handle the midsized markets. The ERP systems work on the payroll and the employees where there are advanced pricing that is based on the sales and the customers. (Rawashdeh, 2013).

The running of the business solution with the specific rules that are set for the handling of the sales and the payroll management. For the QuickBooks, there is a need to focus on the functional development of custom fields in the software to track the data where the access and the control are based on the bigger issue. 92% of the customers tend to agree with the management of the accounting easy that leads to the specific needs of the growing business with the end-to-end management solutions.

The major advantage of the ERP system is set with the adaptability and integration. The enterprise systems are set to scale the needs with meeting the user size that offers the integration to connect the employees to the different departments. The ERP system works on the single-entry system which also allows the data to work on the multiple entry points where the use of the modern technologies is set at the cloud computing forms. The mobile devices are configured to allow the data with the entry and receiving from the virtual time, where the growing number of the regulatory measures are set with the cognizant ways are based on operations with the system and the data manipulation. ERP systems use the QuickBooks which includes the working of the current environment to upgrade the ERP solutions. (Schiff et al., 2014). The integration is based on inventory management software along with handling the management solutions, with the scanning and the customer support plan. The premium planning with the inventory standards to control the analysis that is set with the training webinars, videos, and the other resources.

4. Evaluate the systems’ effectiveness 

The effectiveness of the systems is based on the financial management system which includes the processes with the income and expenses. The records are set for the different patterns with the accounting software that can handle the daily, weekly and the monthly records. It is important to focus on the bookkeeping software with the ability to run the reports which are faster than the accounting. The reconciliation of the accounts is set with the assurance to focus on the accuracy along with the cloud-based information systems for the small and the medium scale enterprise. The adoption is based on the systems with the lower skills, transactional roles and then to hold the accounting the rules of operation. The configuration is based on the settings with the accounts that are payable for the retrieval of the raw data which is held in the log database. The applications are set with the reports that include decision making and financial reporting, which includes the forms of the centralized transactions. (Villani et al., 2014). QuickBooks major operations issues are set with the reduced downtime overall where the focus has been on the accounting methodologies that require performing a certain analysis. The limitations are based on the number of the products with the organization is set to the extensive range of the feature with the payment of the one-time fee. The limitations are related to the issues of functionality with the remedy to set the forces to drop the data into the spreadsheet applications. The limitations are for the resource management where QuickBooks has been set for the payroll component where one is not able to track the skills or the talents. There are operational issues related to the profit and the loss balance sheets where the shifting is to the cloud-based accounting that reduces the time and energy which is mainly for the manual activities. This allows the organizations to work on collaborating and relying on the manual processes with the workforce efficiency. QuickBooks tend to reduce the problems when the employees try to share the information in the real time.

There are factors of the operational issues when it relates to the system inefficiency as well as the forms where the users are not confident with the change. (Pecchiar, 2012).

Conclusion

The performance is based on the level of revenue recognition where the accounting information system needs to check on the centralized database processes and the transforms for the generation of a summary. With this, there is detailed requirement analysis which is for the handling of system documentation to the transactions, reports and the questions. Here, the forms are set for the system designing where the new system is created with the needs to accept the system for controlling and building the files, sample master records and the ability to process the data by the tests.

References

Biafore, B. (2013). QuickBooks 2014: The Missing Manual: The Official Intuit Guide to QuickBooks 2014. " O'Reilly Media, Inc.".

Carey, M. (2013). Harmony in the Cloud—the New QuickBooks Online user interface. Cloud Accounting Buzz, posted Oct, 1.

Collins, J. C. (2014). 11 QuickBooks Tips for Producing Stellar Reports: Tap into the Software's Power to Give Business Reporting a Boost. Journal of Accountancy, 218(4), 28.

Lambert, S. L., & Bee, S. (2015). Assembly FG: An Education Case Study Using QuickBooks as the AIS for a Small Manufacturing Business. AIS Educator Journal, 10(1), 26-31.

Nelson, S. L. (2012). QuickBooks 2013 All-in-one for Dummies. John Wiley & Sons.

Pecchiar, G. (2012). Upgrade to WMS, keep QuickBooks and MYOB. MHD Supply Chain Solutions, 42(1), 24.

Rawashdeh, A. (2013). An empirical investigation of the determinants of student acceptance of quickbooks online software. International Journal of Management, IT and Engineering, 3(8), 88.

Schiff, A., & Szendi, J. (2014). Helping small business entrepreneurs avoid critical mistakes in QuickBooks accounting software. The Entrepreneurial Executive, 19, 169.

Villani, K., & Rosa, J. B. (2014). Computerized Accounting with QuickBooks 2013. Paradigm Publishing.