Comparison of MYOB and SAP in Accounting - 1560 Words

HA2042 T2 2012 Assignment 1 - Individual Due: 5pm, Friday, Week 5 Today, Accounting and Reporting are considered as the major functions of core Finance that play an important role inside the organization. This is further, subdivided into functions like Receivables and Payables Management. In order to speed up these processes and functions, one needs entrenched interior controls and computerized processes that can help in speeding and thereby finishing up the unresolved accounting tasks. Also, this will help achieve the goal of vigorous workflow as well as all-inclusive control over the financial closing cycle. It not only saves time but also saves costs. This will further help achieve highest confidence in the financial reporting†¦show more content†¦It just describes how the business is – going on the right track or is it off track? Minimum System Requirements:- †¢ Windows XP (SP 3), Windows Vista (SP 2), and Windows 7 †¢ 1GHz Intel Pentium ® processor (or equivalent) with 1 GB RAM or higher †¢ 200MB of free hard disk space for program installation †¢ 35MB additional disk space per company file †¢ 16-bit color 1024x768 screen resolution †¢ Dial-up or broadband connection for MYOB M-Powered Services †¢ Microsoft Internet Explorer (minimum v6) †¢ Apple QuickTime ® (minimum v7) †¢ Adobe ® Acrobat Reader (minimum v8.1.2). †¢ Microsoft Office: 2000 to 2007 †¢ Microsoft Outlook: 2000 to 2007 Pricing:- The cost of this Business Solution Package is around $2500. Further, applying for membership will then provide technical support, updating the software every time and also offering range of other discounts for similar products. Thus, it reduces costs by lessening manual work and increasing computerization in all the business processes of Accounting. SAP ERP Financials Now, let us check out how this solution package of SAP is better compared to MYOB. Features:- First, of all, just like MYOB, it also supports reporting of financial transactions in multiple languages as well as in multiple currencies – thus fulfilling all the international reporting standards as well asShow MoreRelatedAccounting Systems, Internal Controls, and Ethics28179 Words   |  113 Pages Accounting Information Systems ACCOUNTING SYSTEMS, INTERNAL CONTROLS, AND ETHICS Prepared for the course team by Vimlesh B. Narayan Unit 1 Contents Unit 1 Contents 2 Concept Map 3 Learning Outcomes 4 1.1 Introduction 5 1.2 Accounting System Design 6 System Objectives and Design Factors 6 Designing the System 8 1.3 Internal Control Systems 17 Objectives of Internal Control Systems 17 Structure of Internal Control Systems 18 Why You Should Consider the