Part A
The software of the accounting is based on the different applications where there are different accounting data that are for the handling of the organisation. It includes the software record transactions that is set on the daily basis with the proper recording of payment transactions and the other generalised ledger. The accounting software standards are set on the different types which includes the brand and the non-branded software. The preparation by the organisation is mainly to make the proper use of the software along with working over the contexts of the accounts.
The National Bank of Australia need to work on providing the better banking services with the country focusing on the different data that is related. NAB works on handling the different banking services with the ATM services that is provided to its customers. The bank also requires handling the different banking services which include the commercialised banking where NAB focusses mainly on the use of the tradition system of accounting (Janvrin et al., 2017). The system works on the paperwork with the view of the loss of data patterns as well. The NAB works on the customer, products and the support with the centralised services for the Australian business. It focuses on the leadership team with the existing and the external executives with the set of the range of sectors. The new structure is based on the responsible forms with the front-line sales and the customer relationship. The responsibility for the end-to-end product works with the management and handling the risk integration, with IT and the other operational processes into products. The positioning for the growth comes with the 12% of the cash earnings per share growth in 2003 and 2004, where the investments with the leading business partner and outsource provider.
This includes the issues which are related to the errors in the NAB working of the system. Here, there are times which include the transactions that are mainly due to the banking with the traditional accounting methods. It works with the tasks that are done in the manual format with the system creating the errors and working on handling the balance of the account. The operational issues are also related to the techniques where the work needs to be handled with customers reporting the accounting and the balancing of the figures. This leads to the customer loss for the bank. The customers also, then, have to wait for the whole day to work and handle their personal transactions.
ERP as the database software package works on the support for the different business processes and the operations. It includes the manufacturing and the working on the marketing, financial and the other human resources department. The integration standards are set for the entire system of the company. This includes how the departments and the processes are set with the operations where the company is also committed for planning, training and implementing the ERP systems. The use of the ERP works on establishing the general ledger account through the different validation processes and the financial statement (Ferguson, 2017). Here, the ERP need to manage the recording and the processing of the data with the functional areas which include the accounts payable and the accounts receivable. The ERP systems works on providing a proper and a complete service offering that will assist the organisation through the processes of the ERP selection, implementation and the organisational change management. The pitfalls are set to define the project selection with the patterns that help in hedging towards handling the project cost ventures with the overruns. Here, the software is misaligned with the business needs and the lack of return on investment. ERP includes the functioning where Xero is used for the cloud based structures under the SaaS model. The services are managed based on the monthly subscription. The data is related to the customers which can easily be stored online on the hard drive or on the local hard drive of the system (Hoozee et al., 2017).
Part B
The flow of work is based on different customers who come and invest in the bank. The software keeps the record of the entire features of the system where the entry of the new customers along with the other related process are evaluated based on the new entry of the customer. The procedures are then affiliated to handle the system software conditions based on the banking service growth (Rousseau et al., 2017).
The issues related with Xero software works on the web based software which requires to maintain a proper network connection. Here, the software does not require a proper and the full administrator right as well to hack into the system. There are issues related possibly to the hacking of the ATM services (DeZoort, et al., 2017).
The solution for this could be the firewall setting and handling the files on the local drive of the system. A major step need to be enforced for the proper privacy which includes how the linkage can be done so that the user can get the offline updates as well in the system. In order to maintain the privacy of the system, the user need to focus on updating the data and deleting the data depending upon the linking connection. Here, the connectivity is based on working over the system links in a proper manner.
The AIS is based on the storage, collection, managing and then processing all the financial data which could be used for different auditors and the regulatory processes. It also ensures the higher accuracy level based on the company financial transactions that are mainly to keep the records and work on the legitimacy that needs to access to the different standards of the secured data patterns (Idm.net.au,2017). The AIS includes the different real-time applications with the accounting information system which includes the people, procedures and the instructions. The AIS includes and work on the different departments in the company to work towards the management which can also lead to the notification of how the accounting departments are payable. When the sales are made, when the customer service departments are able to track the activities and the customer shipments for the same. The standards are set to handle and utilise the business programming measures which include all the relevant details for the different sort of business. There are options related to the email of the quotes and handling the administration framework set with the stock, request and submitted as per the requirement.
As per the research, it has been seen that the MYOB includes the different income per units, where there are higher stirring rates for handling the increment with the customer life, gross margins and the annual churn as depicted. For this, the calculations are done when they are compared to Xero (Nab.com.au , 2017).
The client mixture with the spacing in the clouds is important so that MYOB can work on the client based cloud system where there is only 16.8% and Xero has approximately 12% in Australia.
Possible problems and issues
Xero has been considered to be the leaders in the market which is one of the software based company that is able to develop the cloud based solutions and the accounting software mainly for the medium and the small sized business patterns. The company has been able to work on the different products like SaaS models which are set with the bases and the types of the company formats. With the changing formats and the features, Xero includes the indication of the current money positions which are important for the different parties in the bank and to handle the deals which are unpaid. For this, MYOB is also focusing on the customisation act with the modifications based on targeting the business with the sum of data import and export.
The standards are set to meet the requirements, with the outlining of the records, things and the other charges. This is important to focus on the articulations of the bank and improve the fare of the business exchanges. Hence, for this, the major consideration is also on the different bank feeds which work for a particular product range. The customers and the customisable formats are for the changing notes and the proclamations which are set to make the different payable standards and purchase the orders. The expenditure handling assertions are set with taking care of the costs and handling the GST which is imposed on the exemptions with other revealing elements. The GST auditing calculation logs and the capacity is set to measure the action proclamations.
As per the accounting frameworks, there are major limitations for NAB, where the bank has to focus on the cost of the data which has been entered with the wrong choices. The utilisation process with the controlling tenacities are to send the costs and offer the citation which bring in the devouring by the finished results. The overhead recuperation rates with the machine hour rate, work hour is for the ingestion processes with the designing and the reallocation that is based on working and the functioning of the system. The system is based on working over the innovation with properly creating a Bette business through the automation processes of the manual works. With this, there are different parts of the cost which are settled through the far-fetched methods and handling the accumulation and the arrangement for the better overhead recuperation.
ERP based Accounting in Xero is important for handling the system architecture. With this, the use of cloud computing operations using SaaS, with the use of oversee operations helps in handling and diminishing any wasteful aspects. The upgradation of the profitability of the system with the customer loyalty and the adaptability is mainly to control and work on enhancing the correspondence with the joint efforts that are related to the business range. It also requires matching with the increased and proper control for the different procedures as well.
Conclusion
The AIS is based on working and setting the procedures based on the cost data and the sales. AIS includes the working with the other sales order procedures, payroll functions and the information. Here, there are other amortization schedules which are for the facilitation of the record keeping processes and the reports that are important for the decision-making activities. AIS programs with Xero are important to handle the customisation of the different needs of the system and the business of the end users. This will help in improving the IT infrastructure as well.
References
DeZoort, F.T., Wilkins, A. and Justice, S.E., 2017. Call for papers: The limits of accounting regulation. Journal of Accounting and Public Policy, 45, p.30Z.
Ferguson, I. 2017. NAB takes AU$200 million writedown on failed ERP project | ZDNet. [online] ZDNet. Available at: https://www.zdnet.com/article/nab-takes-au200-million-writedown-on-failed-erp-project/
Hoozée, S. and Mitchell, F., 2017. Who Influences the Design of Management Accounting Systems? An Exploratory Study. Australian Accounting Review.
https://www.nab.com.au/…/financial-disclosuresandreporting/reports-and-presentations
Idm.net.au. 2017. NAB chooses SAP, Siebel | IDM Magazine. [online] Available at: https://idm.net.au/blog/006277-nab-chooses-sap-siebel
Nab.com.au. 2017. NAB Direct Link. [online] Available at: https://www.nab.com.au/business/online-banking/nab-direct-link
Rousseau, P.L. and Wachtel, P. eds., 2017. Financial Systems and Economic Growth. Cambridge University Press.
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