Ch05 - Integrated accounting and enterprise software Flashcards
Enterprise resource planning (ERP)
- Provide all accounting functions
- Interfaced with multiple functional areas of business: Manufacturing, Sales and Distribution, HR Applications
Integrated Accounting Software
Function:
- Accounting software bundle separate accounting processes in the same package
- Process most types of ACCT transactions
- Transactions affecting general and special journals
Modules:
- Organizes transaction processing in modules
- Provides links between modules
- Include Accounts Receivable, Accounts Payable, Inventory, and Payroll
Small Business Accounting Software
Popular Software Packages :
- Quickbooks by Intuit
- Peachtree by Sage Software
Small Business Accounting Software - feature
- Internet connectivity - create website and engage in electronic commerce.
- Export accounting data into XBRL format.
- Cloud computing - store data and use accounting software, on hosted sites
- Scalability - software grow when company grow // “compatibility with other systems”
- Ability to customise
Midrange and Large-Scale Accounting Software
Utilization:
- Transaction processing needs grow
- Volume and complexity
Popular Software Packages : Microsoft Dynamics GP, SAP Business One, Epicor, Sage software’s MAS 90, MAS 200 Everest, Made2Manage, Accpac
Cost consideration: Range from $2,000 to well over $300,000.
Midrange and Large-Scale Accounting Software - features
- Multi-currency transactions
- Currency conversions
- Various modules and interfaces (CRM, HR)
- Deployment options (desktop, web-browser)
- Hosted solutions
Specialized Accounting Information Systems
- Specially designed software for specific industries: Schools, Dental Offices, Pet Retailers, …
- Can be designed as add-on modules for integrated software packages
- Independent developers create programs to interface with integrated packages
Customer relationship management (CRM)
- A tool that helps companies optimism their supply chain
- analyse customer data
Business Intelligence (BI)
- analyze and report data from their firm’s information systems.
- with CRM -> serve customer better
Partner relationship management (PRM) software
- enhance the working relationship between partners
Four major components of an ERP’s architecture
1- system configuration
2- centralized database
3- application interfaces
4- internet portal.
System configuration
- Means how the ERP system is deployed.
- Cost - lower than ERP
- Often run on company’s system
- Hosted solutions help alleviate risks
Centralized database
- integrate data from various subsystems
- Each data item stored once
- Prevents data redundancy
- Data immediately available to all business functions
Application interfaces
- ability of an ERP system to interact with software from independent vendors.
- Best-of-breed approach
- Enterprise application integration(EAI)
best-of-breed approach
purchase software from different vendors
