Changing an Accounting Software Package
KWAME NKRUMAH UNIVERSITY OF SCIENCE AND TECHNOLOGY KNUST SCHOOL OF BUSINESS
ACCOUNTING INFORMATION SYSTEMS
Topic: Changing An Accounting Software Package
AGGREY AFUA NKUMAH ALLOTEY LILIAN ADORKOR AMOAKO JULIET DOGBEY FELIX MAKAFUI NKRUMAH FLORENCE QUARSHIE GEORGE
November, 2009
Possible ways of replacing the existing accounting package Accounting software is designed in such a way that you can easily take care of your business expenditures, profit, employee and pay rolls along with a range of other book keeping tasks that you might find useful in the office or at home. Since the mid 1990’s, the market has been undergoing a substantial amount consolidation, which made a number of traders suffer a huge amount of loss in their business. As a result Accounting software has been commenced. It is a class of computer programs that acts as an accounting information system. Accounting software will definitely save your time and money. Other benefits of accounting software include: good accounting software will take advantage of your efficient programming systems. Again, it reduces your cost and helps you to track inventory. Accuracy cannot be over emphasized when dealing with benefits of accounting software. In replacing the existing accounting software the options available to the company include: in-house development, commercial off the shelf and outsourcing.
In-house development This involves engaging the services of a professional or the software development team in the organization to develop accounting software taking into consideration the company’s line of business and tailoring the new system towards the needs of the users. Here the features of the ‘’slowbook’’ can be incorporated along with other vital features, neglecting the deficiencies. Having an in-house application developed for the company can potentially provide the company with major business and commercial benefits and allow the company to gain significant competitive advantage. In-house
ACCOUNTING INFORMATION SYSTEMS
Topic: Changing An Accounting Software Package
AGGREY AFUA NKUMAH ALLOTEY LILIAN ADORKOR AMOAKO JULIET DOGBEY FELIX MAKAFUI NKRUMAH FLORENCE QUARSHIE GEORGE
November, 2009
Possible ways of replacing the existing accounting package Accounting software is designed in such a way that you can easily take care of your business expenditures, profit, employee and pay rolls along with a range of other book keeping tasks that you might find useful in the office or at home. Since the mid 1990’s, the market has been undergoing a substantial amount consolidation, which made a number of traders suffer a huge amount of loss in their business. As a result Accounting software has been commenced. It is a class of computer programs that acts as an accounting information system. Accounting software will definitely save your time and money. Other benefits of accounting software include: good accounting software will take advantage of your efficient programming systems. Again, it reduces your cost and helps you to track inventory. Accuracy cannot be over emphasized when dealing with benefits of accounting software. In replacing the existing accounting software the options available to the company include: in-house development, commercial off the shelf and outsourcing.
In-house development This involves engaging the services of a professional or the software development team in the organization to develop accounting software taking into consideration the company’s line of business and tailoring the new system towards the needs of the users. Here the features of the ‘’slowbook’’ can be incorporated along with other vital features, neglecting the deficiencies. Having an in-house application developed for the company can potentially provide the company with major business and commercial benefits and allow the company to gain significant competitive advantage. In-house
References: Goldy P. S (2001), Accounting information system 4th ed, McGraw Hill ACCA study text, Information System Paper 2.1, Foulks Lynch publishers Rasmussen N. H et al, (2002) Business intelligence www.wikipedia.com