ACC 250 Week 1 Assignment Accounting Software Memo

ACC 250 Week 1 Assignment Accounting Software Memo

interoffice memorandum

to:                

from:          

subject:    accounting software upgrades

date:           7/14/2016

cc:                

 Our company’s accounting software is extremely outdated.  It is time to update the software. Included in this year’s fiscal budget is the allotment for the purchase of new accounting software.  We have determined that we need to begin looking for accounting software and you have been chosen for this important assignment. With your proven skills, we believe that you would be the best person to take on the task of finding the best software for the company. The right accounting software is critical to the successful operation of the company.

I suggest commissioning a committee to be made up of members from each group in the department to help ensure the needs are being met. You will head up this committee.  An analysis for each group is needed to determine what each group needs from the accounting software in order to ensure all needs are met. The analysis will include invoice generation, statement generation, inventory tracking and preparation, information retrieval, checks, etc. Please determine what is crucial and beneficial to each group and what is not.

Your final analysis should include all reports needed along with the procedure used.  Any procedure used that would not be part of the software should also be included in the report. This will help determine what is necessary and crucial and what would not need to be incorporated in the software.  Please include a detailed report explaining the needs of the accounting software; which will be used to determine the right software.  Once done, please submit the appropriate software choice and analysis for the upgrade.

The deadline for this project will be February 1^st. This will allow plenty of time to ensure that the project is done properly and also allows time to purchase and install the software.

Please feel free to contact me at   or by email at  hank you in advance for your time and attention to this matter.

ACC 250 Week 1 Assignment Accounting Software Memo 1

ACC 250 Week 1 Assignment Accounting Software Memo 1

Memorandum

To:         
From:     

cc:         
Date:      
Re:         Accounting software

Right now the software we use is out dated. This being the case, I am referring to you the task of implementing the new accounting software for this organization.

Sometimes cash Flow statements need to be presented forcibly along with profits and loss account and balance sheet. The present system is not capable of producing these statements. The new system to be purchased needs to be able to generate these statements. If the present software is continued, it is not possible to adhere to the legal requirements.

The company might diversify their operations thus enabling us to purchase major stock of another company. The company becomes holding company and the holding company has to present the consolidated balance sheet and profit and loss account. The existing software cannot cater the new demands.
 
Our current software is old it creates issues resulting in frequent shutdown which in turn creates more work for employees, i.e. duplication of work. This consumes the valuable time of employees and the result is low productivity. Frequent troubles in the operation of existing software reduce the morale of the employees. This trouble can be solved by the installation of new software. If it is not installed, it will definitely result in low productivity, low morale of the employees, high employee turnover etc.

Issue of materials and receipt of materials in the each department are done manually by the employees and the present software does not aid to this requirement .The new accounting software will need to incorporate this feature which will help the company to decide quickly the economic order quantity etc., thereby reducing the number of hours of work and as a bonus will reduce the cost of employing staff.

Analytical statements like, ratio analysis are not built in to the the existing accounting software. New accounting software will have this ability and thereby enable the Company to evaluate the real financial strengths and weaknesses of the Company.