Accounting System Bsa/310

The Value of a New Accounting System

The Value of a New Accounting System

An appropriate accounting system is vital in the success of any business. Not all accounting systems are alike and choosing the one that works best for each business is an important factor to consider when deciding how best to handle accounting. The core attributes of an accounting system are not enough. This includes accounts payable, accounts receivable, billing, and general ledger ("10 Essential Accounting Software Features," 2009). Kudler Fine Foods could benefit from a new accounting system that offers more features. Things to consider are the key features, core technology, benefits, and costs of each accounting system when making a decision.

The key features of an accounting system are important because they define what services are provided to the company. One very important feature is reporting and analysis, which should have robust capabilities. The functions of reporting and analysis help companies to conform to industry and government regulations (2009). Automation is an important feature and includes payroll and time sheets, expenses, department and company budgets, and other complex financial activities (2009). Just as important as automation is automatic updates because regulations, tax laws, and financial practices are always changing. This is why it is so important to use software with automatic updates (2009).

Internet connectivity and Interoperability are both important features because it is vital to stay connected within an organization. The Internet allows accounting software to send and receive digital documents as well as electronic fund transfers (2009). Interoperability allows data entered into the accounting software to be shared with other departments of an organization. Business applications used by departments such as sales, shipping, and Human Resources as well as other various departments will have access to programs in other departments (2009)....