Accounting and Information Systems for MYOB - myassignmenthelp

Question: Discuss about theAccounting and Information Systems for MYOB Essentials. Answer: Introduction With the ramified economic changes, there are several accounting software's in Australia which has been used by companies to maintain their books of accounts. This report reflects the three main accounting software's which will be further be analyzed and compared to identify the best suitable accounting software to Sports stores. Analysis and comparison of three cloud-based accounting packages In Australia, there are three main cloud-based accounting packages which are mostly used by the small and big companies (Venkatachalam, 2015). MYOB Essentials Saasu Xero- 3210000 Comparison between all these clouds based accounting packages (GRADE, 2017). MYOB Essentials Saasu Xero- 3210000 It provides any time access to bookkeeper to the accounts maintained. It is highly secured by the credential users. It secures double entry accounting for bank reconciliation and financial statements (Wickramasinghe, Cooray, Dissanayake, (2017). It is comparatively costly as compared to other accounting software available in the market. Saasu accounting software is known for its highly advanced feature of holding a large amount of data. It is highly secure accounting software system. It integrates the invoice of the business with the customer relationship system which may be further used in the internal control system of organization. It also eliminates the multiple recording by keeping one address book to reduce the complexity of the system. It also promotes the secure bank feeds by preparing the bank reconciliation statement daily (Mageto, 2017). It is cloud-based accounting software. It offers dashboard to quickly view the bank balance, invoices bills, and expenses claims. The invoicing system customizes the process with the clients through online invoicing. Pricing for Xero starts with the $ 19 per month and increases with the increase in the quality (Hossack, (2015). Conclusion After evaluating all the feature and benefits of the particular accounting softwares, it could be inferred that SAASU is the best accounting software packages which could be adopted by the small business organization to maintain an effective accounting and reporting frameworks. It increases the overall efficiency of the business. Recommendation to Sports stores The main recommendation to Sports Stores is related to installing the Saasu software. It will assist Sports stores to book the multiple recording by keeping one address book to reduce the complexity of the system. It will also secure bank feeds by preparing the bank reconciliation statement on the daily basis which will eventually increase the overall output of the organization at large. It will make easy recording system and interlink other books of accounts with the journal entry system (Mageto, 2017). Rational The main rationale to select this SAASU software is based on its features and easy to record the books of account of the company. In addition to this, data storage of SAASU is also too high which will assist in making the book recording system effective. References GRADE, G.B.,(2017) Effective Accounting Software Package System 0 Downloads| 15 Pages 3,743 Words| Published Date: 02/01/2018. Hossack, S. (2015). Cloud-based accounting and productivity tools for practitioners and taxpayers.Taxation in Australia,50(5), 265. Mageto, J. (2017).Accounting Softwares in Australia. An Overview. GRIN Publishing. Venkatachalam, N. (2015).Leveraging of software as a service by small and medium enterprises: Information systems capabilities and organizational complementarities(Doctoral dissertation, Queensland University of Technology). Wickramasinghe, M., Cooray, N. H. K., Dissanayake, S. (2017). Impact of accounting software for Business Performance.