In a memo to the software team of Smartpro, the author recommends that software team should add all advanced special features of professional software products to personal accounting software in order to increase sales of personal accounting software. To support the recommendation, the author cites survey statistics that Smartpro's professional accounting software is the leader among professional accounting software products. The author’s line of reasoning is that the addition of advanced features to personal accounting software can improve product’s competitive advantage over its competitors’ products and, in turn, increase its sales. The author’s argument, however, is unconvincing because it relies on several dubious assumptions and incomplete …show more content…
However, this is not necessarily the case. In my experience, software products with advanced features are not that user-friendly and users of them may require extensive training and support. If this is the case, non-professionals may need product-specific extensive training to use the software. As a result, most home users have to spend extra time or money, or both to learn how to use it. So, it is highly likely that they may not prefer to buy the software product. Lacking end user perspective and point of view, the author’s recommendation is not worthy consideration. Fourth, the author assumes that software team can upgrade personal accounting software without much investment in resources. In practical, this may not be the case. The Smartpro may have to allocate financial and human resources for this software upgrade. On the other hand, Smartpro cannot increase the sale price of the product because it wants outcompete and capture the market share. An imbalance of expenses and additional revenues may hurt bottom-line of the
Romney, M., & Steinbart, P. (2012). Accounting information systems. (12th ed., p. 143). Upper Saddle River, NJ: Prentice Hall.
Preferred Consulting will install QuickBooks 2015 Pro software on your computer’s hard drive. Next, we will setup Cutting Edge as a sole proprietor organization that is engaged in service and product sales, so the software knows how to account for all the transactions and taxes your company may incur during the year. Then we will enter your customers, vendors, supplies, and inventory that your business uses to conduct daily operations. Every transaction your business performs will be entered using the appropriate section of QuickBooks Pro 2015, and the amounts are automatically distributed to the selected chart of accounts. The chart of accounts records every transaction that is entered and keeps running totals of revenues, expenses, equity, liabilities and inventory.
| Employees may need to learn how to use such limited choice of general purpose software.
In businesses today, it is imperative that the accounting system be tied into every aspect of a business and integrated within all of the information systems in use. Therefore, before any system is updated or changed, the accounting system must be considered and analyzed for compatibility and integration. Kudler Fine Foods hired a consulting firm to “assist in the selection and installation of a
Dynamics ERP by Microsoft Corp. is the best choice for Kudler Fine Foods as they need a new accounting system in order to operate at full capacity the key features, technology, costs, and benefits in which they have to ensure growing success within Kudler Fine Foods depends on upgraded accounting technology to stay ahead of their competitors. The key features for this product, the core technology, overall benefits, and the low costs compared to the competition is the key features to give them a possible edge
These days it is especially important to pay attention to details when it comes to deciding if your accounting system is providing the kind of information that may be required of you to produce. I think legal requirements and government regulations are becoming more demanding as to what they expect to see if someone such as the I.R.S. were to show up and ask for an audit. I would like to talk a little about a few of the key features, core technology, benefits, and costs of installing and maintaining an efficient accounting system and some of the benefits it would be to your company, especially in areas where details
Accounting Information Systems The Crossroads of Accounting and IT by Donna Kay, Ali Ovlia Instructor’s Solutions Manual
Good business accounting softwares do a few things well: Track income and expenses, manage estimates, invoices and customer payments, and give you a clear year-end financial reports. Really large accounting applications also allow you to create and manage inventory and track the cost of goods sold. FreshBooks excels in almost all these areas, but only has 19 reports. Although this is much less than you find in most office accounting
The “software off the shelf” is more reliable as it is developed with broader audience and scalability in mind. It will under go several rounds of testing with different customers perspective. In custom built even though some features might work when used alone, but when interacting with other components might fail.
Two accounting software programs, Sage Peachtree and Microsoft Dynamics, were tested under similar conditions for a direct comparison. General information categories were created with more specific segments to pit both of the programs against each other. The reaction to each segment was based on a Liker Scale, where each segment was graded 1-5 based on the following criteria:
Information systems changed forever the way accounting tasks are processed. The days of green paper pads are gone, and instead businesses have a centralized place where all accounting transactions are entered and saved. No more looking for paper
In the past decades, the demand for electronic devices and appliances has been in demand in many nations. That is due to the ever changing technology that has led to the replacement of the old electrical and technological devices. Nonetheless, with the advancement in technology, individual needs across the globe have also changed. The modern technological devices have to a great extent simplified life where most of the activities that were manually done in the past are now done using technologically advanced machines. That has significantly improved the quality of the output. Moreover, the production process has been made more efficient. For instance, accounting tasks in almost all offices across the globe have embraced the use of computers. That has not only simplified the work done by the accountants but also increased the accuracy (Andritzky, 2007). The demand for these devices has given business opportunities to many investors who seek to provide and avail the machines to customers across the globe.
QuickBooks is a software used by many small businesses and is designed to help manage payroll, inventory, sales and other needs of a small business. The new accounting software is more cost-effective than other existing ones and deters the need for a personal accountant. It’s simpler to use and will be of value for the business and the salesmen behind it. QuickBooks helps with everyday organization like keeping up and managing cash flow, invoicing, reports, taxes and payroll through your computer or phone screen. The software's main purpose is to alleviate the use of multiple tables and graphs, spreadsheets, and tracking sheets that are necessary to document and maintain accounting tasks for a business. You don’t necessarily need a
For example, opting for the latest videoconference software and cameras will be a waste of time and money, if you are only going to organise a conference every two months. Similarly, a helpful HR software app might not be useful if you only have three people working in the team.
PC accounting software is truly one of the great bargains in business because of its cost/benefit