To, Larry and Samantha
From, Farm Branch Rentals
Subject: Advise on application of Computerized Accounting System
Computerized accounting system refer to a class of computer programs that are used to process, collect and analyze business data for the purpose of informed decision making process. Business today require improved and efficient accounting procedure to help in maintaining its performance. There are different types of accounting software that help in suiting every business need. Accounting software enable businesses reflect its revenues, taxes, assist in billing and generation of financial statements.
Farm Branch rentals require computerized accounting system since it is formed in the technological period when technology is used to enhance businesses and improve performance. Samantha and Larry require spreadsheets, commercial accounting software and Enterprise accounting software for their business. The business require spreadsheet in its bookkeeping activities. DeBerg, & Chapman, (2012) notes that Spreadsheets have evolved over time through innovations with computerized spreadsheets being the recent in origin. The kind of spreadsheet program required for Farm Branch Rentals is Microsoft Excel. Microsoft excel is a software that has rows and columns used to capture, exhibit and manipulate data. It is a basic accounting software which is applicable to Farm Branch Rentals at its onset. At a business beginning, financial and banking data are simple so the program can serve Samantha and Larry well during their accounting process. Simplicity of spreadsheets will enable Samantha and Larry understand and account for their business finances since the data is easy to interpret. The software is efficient hence the business owners can apply formulas in the software to instantly recalculate and arrive at the required data for the Farm Branch Business. The spreadsheet like excel software is flexible, so the two business owners can alter columns, add or delete columns depending on data needs. The spreadsheet software can limit Farm Branch Rentals since it has hidden functions, it limits on simple functions and cause confusion of use to amateurs. Beginners can face challenges while handling spreadsheets for the first time most so excel software. Spreadsheets require users to design his/her own process while other accounting software have the process designed by accountants.
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According to Christauskas, & Miseviciene, (2012) Commercial Accounting Software is applicable to small and mid-size businesses. Larry and Samantha can successfully apply this software in accounting for their Farm Branch billing section. Commercial accounting software enable a business to track and analyze its entire financial activities. It is a software that is developed and designed to meet specific business needs hence Farm Branch Rentals can come up with its own to meet farm equipment rental need for instance HD Accounts and Billing Software can assist the rental company to produce receipts and invoices for clients. The software handles billing activities well. The software can as well keep sales record for a specific business duration. The software can assist in printing business invoices and it is easy to use even for workers with inadequate accounting knowledge. A firm pays first before using the software and it has to keep paying for annual renewal fee for continued usage making it expensive. The software fails to meet specific goal for individual users hence it can fail to meet needs like integration for electronic health of Farm Branch Rentals. The software work almost with any business.
Patent and trademark office state that Enterprise Accounting Software focuses on accounts payable, general ledger, accounts receivable, billing and forecasting. The software is applicable to large scale enterprises. Larry and Samantha can use this software when their enterprise grows t large scale or they set up a large scale enterprise. The software provide fast and accurate services to clients and the firm like Farm Branch Rentals. It provide up to date information in case of references in future. The software is costly and tricky to use most so for starters. It locks out the illiterate employees who cannot use computers in the Farm Branch Rentals. The software provide accounting services together with other services like business intelligence and workflow management.
I recommend general ledger accounting software since it is based on the principle of double-entry bookkeeping. It will enable Samantha and Larry sum up their revenues easily, calculate their income and expenses, prepare business financial statements, they can choose from sixty report template, they can keep their data up to date and print reports out through mail when it is necessary. The general ledger software works well for a large enterprise like Farm Branch Rentals.
DeBerg, C. L., & Chapman, K. J. (2012). Assessing student performance and attitudes based on common learning goals and alternative pedagogies: The case of principles of financial accounting. Academy of Educational Leadership Journal , 16 , 63.
Christauskas, C., & Miseviciene, R. (2012). Cloud–computing based accounting for small to medium sized business. Engineering Economics , 23 (1), 14-21.
Schorr, M., Sylvester, M., Dopf, G., Henrich, D., Liebich, G., Conrad, M., ... & Soltek, R. (2013). U.S. Patent No. 8,442,850 . Washington, DC: U.S. Patent and Trademark Office.