INFS5978 Accounting Information Systems

Management

Name and Number of Student

Date of Submission

Introduction

In the context of this research report, Racine Bakery is nominated as a case organization. Moreover, the organization is use manual processes and systems in order to maintain the records of its accounts and finance. This is time consuming process that affecting company’s productivity. So, there is need to adopt best accounting software to avoid bookkeeping issues successfully. In this research paper, detailed information would be provided about bakery’s business activities & processes. Apart from this, best accounting software would be suggested to the bakery.

Background

Racine Bakery is one of the most favorable, leading and best bakery in NSW (New South Wales), Australia. Currently, it is providing a range of quality and tasty bakery products to the customers at the reduced rates. It is an individual Bakery organization that makes bakes and sale a number of bakery items including cookies, rolls, pastries, crackers, biscuits etc. Such variety of bakery products is made by utilizing oven or other heat sources. The company is working under a very constricted schedule of production. The production process of the bakery is started with the collection of raw materials from the bazar and making it finished goods into final customers. The below picture indicates the business activities of the bakery such as:

Based on the above picture, it can be said that, the primary activity of bakery is start from buying of various types of raw materials/ ingredient from the market. After buying the entire ingredient, these are assorted with each other. After mixing the entire ingredient, bakery is use a range of instruments such as: rounder, moulder, weigher, oven to make the final products.

Business Requirements

It is identified that, various business processes of the Bakery are indispensable which are not only linked with the supply chain or production but also with the bookkeeping/finance. There are several weakness in the bookkeeping system of the bakery which creating problems for the company. For instance, the company is not growing at the rapid rate due to its poor accounting system. Along with this, it is also loosing customer base because company is unable to satisfy the actual needs of the customer. For case, the company failed to produce products at the reduced price. The accountant of the company is only preparing manual financial statements due to lack of knowledge. So, company is needed accounting software to run the processes and activities related to accounting more accurately. The bakery company is required from the processes to attain business objectives. For case, there is strict and immediate need to adopt new accounting software to run the business operations successfully. Moreover, it should invest in the accounting software packages to deal with the inefficiencies.

Systems Requirements

In order to attain IT investment objectives and deal with the accounting issues, Racine Bakery should pay attention on adopting the accounting software packages. It is important and essential to Racine to analyze and understand the value and implication of accounting software. For case, to enhance the speed of transactions and bring more accuracy within the current accounting and financial processes, the company should adopt such software packages. By adopting specific software, the company would be able to get up to date information in real time. Moreover, to manage & reduce operational cost, and minimize the inadequacies within the current accounting system, Backer should invest in accounting software. Additionally, to get real time overview about the financial position, and prepare financial records, the company should adopt such software packages. For the purpose to enhance decision making, and to generate financial information at the reduced cost, it should adopt software. The accounting software would allow the company to prepare accounting and financial reports.

Software Selection

After visiting and analyzing the three main websites of accounting software package vendors (SAP: http://go.sap.com/index.html, MYOB: http://myob.com.au/, Xero: https://www.xero.com/), it is found that, these are the most demanding and useful accounting software in the market. These are not only used for bookkeeping purposes but also for solving real time accounting issues.

Category of Accounting Software:

Vendor Selection

It is important to Bakery to choose a vendor based on features/functionalities of the accounting software.

Differences:

Similarities: It is found that, both MYOB and Xero are accounting software which can be used for the purpose of bookkeeping. For case, these help the companies in solving the accounting issues more smoothly. Along with this, by using such software, user companies are able to solve real time issues related to sales, bookkeeping and finance. For case, both can be used to overcome organizational inefficiencies and different operational costs successfully. At the same time, both can also be used to make strategic business decisions. Moreover, these are also used for the reliability, speed and accuracy in the bookkeeping systems and processes.

Most Suitable Software for Racine Bakery: The Company should go with Xero software because it comes under the small and medium range firm. The company would not be required to invest huge money so it will save cost for the company. Moreover, Xero is also provide the feature of education that mean the bakery can provide education to its employees about the software. For case, the software provide 24/7 online support which would be more helpful for the company. Moreover, with the help of Xero, the company would be able to remove accounting jargon. As a cloud based software, the firm would not need to update the latest version constantly. The employees can use this software from their phones.

References

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