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The Theory of AccountingThe Theory of Accounting

Applied to SoftwareApplied to SoftwareJustin Botillier, Torrey Jacobson,Justin Botillier, Torrey Jacobson,

Mindy Konno, Maxine Vang, John ZollerMindy Konno, Maxine Vang, John Zoller

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Accounting Software AailableAccounting Software Aailable

!"!" Microsoft #yna$icsMicrosoft #yna$ics

%"%" &eachtree 'Sage Accounting Software(&eachtree 'Sage Accounting Software(

)")" *uic+Boo+s*uic+Boo+s"" -erest Software-erest Software

."." /nu0ash/nu0ash

1"1" /risbi/risbi2"2" #olphin Accounting Software#olphin Accounting Software

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'for$erly Microsoft /reat &lains('for$erly Microsoft /reat &lains(

&ro3ect Accounting Software

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Software BenefitsSoftware Benefits

4inancial $anage$ent4inancial $anage$ent 5nstantaneous financial analysis5nstantaneous financial analysis

AnalyticsAnalytics Broad range of flexible, custo$i6able analytics, reporting andBroad range of flexible, custo$i6able analytics, reporting and

budgeting optionsbudgeting options Business &ortalBusiness &ortal

Built on Microsoft "7-T technology" Allows data and processesBuilt on Microsoft "7-T technology" Allows data and processesto be accessed fro$ a 8eb9based portalto be accessed fro$ a 8eb9based portal

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#yna$ics " other pac+ages#yna$ics " other pac+ages

5ntegration with widely9fa$iliar applications5ntegration with widely9fa$iliar applications #eeloped by Microsoft which $eans it is built to wor+#eeloped by Microsoft which $eans it is built to wor+

sea$lessly with their other products, such as Microsoft :fficesea$lessly with their other products, such as Microsoft :fficeand Microsoft S*; Sererand Microsoft S*; Serer

Microsoft :ffice9li+e interfaceMicrosoft :ffice9li+e interface &ricing> to =.>>,>>>" Module type pac+aging lets a co$pany=.,>>> to =.>>,>>>" Module type pac+aging lets a co$panycreate their own personal accounting pac+age, eli$inatecreate their own personal accounting pac+age, eli$inateexpense on unwanted optionsexpense on unwanted options

Aailable fro$ Microsoft 4inancing to reduce the burden ofAailable fro$ Microsoft 4inancing to reduce the burden of

expensie 5T changesexpensie 5T changes TrainingTraining

:nline e9courses:nline e9courses 0lassroo$ training throughout the ?nited States and 0anada0lassroo$ training throughout the ?nited States and 0anada

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#yna$ics " MAS@>#yna$ics " MAS@>

http

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#yna$ics #e$os#yna$ics #e$os

http

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/nu0ash/nu0ash

:pen source software:pen source software

'free('free(

Cuns on Macintosh,Cuns on Macintosh,

8indows, and ;inux8indows, and ;inuxco$putersco$puters

Keeps tract of ban+Keeps tract of ban+

accounts, stoc+accounts, stoc+

options, inco$e andoptions, inco$e and

expensesexpenses

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/risbi/risbi

:pen source accounting:pen source accounting

software 'free(software 'free(

Cuns on 8indows,Cuns on 8indows,

Macintosh, ;inuxMacintosh, ;inuxco$putersco$puters

&roides basic&roides basic

accountingaccounting

reporting

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Versions of &eachtreeVersions of &eachtree

!" &eachtree by Sage!" &eachtree by Sage 4irst Accounting4irst Accounting

#esigned to support s$all serice9#esigned to support s$all serice9

oriented businessesoriented businesses%" &eachtree by Sage%" &eachtree by SageAccountingAccounting

Add basic inentory features to supportAdd basic inentory features to support

retail establish$entsretail establish$ents

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Versions of &eachtree 0ont"Versions of &eachtree 0ont"

)" &eachtree by Sage)" &eachtree by Sage 0o$plete0o$plete

&roides networ+ing and $ulti9user support, adanced&roides networ+ing and $ulti9user support, adancedinentory features, online ban+ing, online bill paying,inentory features, online ban+ing, online bill paying,3ob costing, ti$e and billing, an audit trail, and first9rate3ob costing, ti$e and billing, an audit trail, and first9rate

fixed asset $anage$ent features"fixed asset $anage$ent features"" &eachtree by Sage" &eachtree by Sage &re$iu$ Accounting&re$iu$ Accounting

5ncludes all the features found in &eachtree co$plete5ncludes all the features found in &eachtree co$pleteas well as depart$ental accounting, seriali6ed inentoryas well as depart$ental accounting, seriali6ed inentoryto assign serial nu$bers to the$, co$panyto assign serial nu$bers to the$, co$panyconsolidation to roll up and su$$ari6e data, progressconsolidation to roll up and su$$ari6e data, progressbilling and e$ployee co$pensation histories and reportbilling and e$ployee co$pensation histories and reportcusto$i6ation"custo$i6ation"

Also co$es in industry9specific ersions forAlso co$es in industry9specific ersions foraccountants, $anufacturers and distributors"accountants, $anufacturers and distributors"

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7ew 4eatures 0ontinued7ew 4eatures 0ontinued

7ew online bill7ew online bill

pay$ent featurespay$ent features

7ew internal7ew internal

accounting reiewaccounting reiewthat re$oesthat re$oes

suspicioussuspicious

transactions andtransactions and

accounting $ista+esaccounting $ista+essuch as duplicatesuch as duplicate

transactionstransactions

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Accounting 4eaturesAccounting 4eatures

TheThe salessalessection in &eachtree, allows you tosection in &eachtree, allows you to

+eep trac+ of custo$ers, sales, sales+eep trac+ of custo$ers, sales, sales

representaties and tax codes" Eou can alsorepresentaties and tax codes" Eou can also

update your general ledger and sales 3ournal asupdate your general ledger and sales 3ournal aswell as create an accountFs receiable report"well as create an accountFs receiable report"

AccountFs payable section, +nown asAccountFs payable section, +nown as purchasespurchases,,

allows you to +eep trac+ of endors and writingallows you to +eep trac+ of endors and writing

chec+s to $a+ing pay$ent scheduleschec+s to $a+ing pay$ent schedules

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Accounting 4eaturesAccounting 4eatures

&ayroll&ayrolllets you +eep trac+ of e$ployee salarylets you +eep trac+ of e$ployee salaryand how $uch your co$pany owes toand how $uch your co$pany owes togoern$ent"goern$ent"

/

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Accounting 4eaturesAccounting 4eatures

AnalysisAnalysisallow your to iew how your business isallow your to iew how your business isdoing as a whole" 4or exa$ple youFll be able todoing as a whole" 4or exa$ple youFll be able tosee a pay$ent aging report that allows you tosee a pay$ent aging report that allows you to

see what percentage of credit sales are paid onsee what percentage of credit sales are paid onti$e"ti$e"

TheThe 0o$pany0o$pany section holds $iscellaneoussection holds $iscellaneousfeatures such as a tutorial on how to usefeatures such as a tutorial on how to use

&eachtree and an alar$ syste$ that notifies you&eachtree and an alar$ syste$ that notifies youof i$portant eents" 5t also has a Job Ceportsof i$portant eents" 5t also has a Job Ceportsfeature that allows you to create report by 3obfeature that allows you to create report by 3oblists, esti$ated 3ob expenses etc"lists, esti$ated 3ob expenses etc"

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&eachtreeFs Strength&eachtreeFs Strength

4ast and s$ooth4ast and s$ooth

download 'less than !.download 'less than !.

$inutes($inutes(

-xcellent tutorial that-xcellent tutorial that

wal+s you throughwal+s you through

progra$sprogra$s

:ffers so$e !.:ffers so$e !.

custo$i6ed reportscusto$i6ed reports

Audit trail9 allows you toAudit trail9 allows you to

record and report anyrecord and report any

changes $adechanges $ade

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&eachtreeFs 8ea+nesses&eachtreeFs 8ea+nesses

-xpensie 9-xpensie 9

constantly update theconstantly update the

softwaresoftware

:nly runs on:nly runs on8indows 'not flexible(8indows 'not flexible(

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0o$pared with *uic+Boo+s0o$pared with *uic+Boo+s

Gas the upper hand when it co$es toGas the upper hand when it co$es toinentory"inentory"

;ets you trac+ asse$blies through;ets you trac+ asse$blies through

$anufacturing$anufacturing

0reate $aster and sub9asse$blies0reate $aster and sub9asse$blies

Ad3ust prices by percentagesAd3ust prices by percentages

Apply ;54:, 454: 8eighted AerageApply ;54:, 454: 8eighted Aerage

and $oreand $ore

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0o$pared with *uic+Boo+s0o$pared with *uic+Boo+s

0ontinued0ontinuedManufacturing fir$s should highlyManufacturing fir$s should highly

consider using &eachtreeconsider using &eachtree

Those in retail and serice businesses thatThose in retail and serice businesses that

are happy with *uic+Boo+s hae littleare happy with *uic+Boo+s hae little

reason to switch because *uic+Boo+sreason to switch because *uic+Boo+s

offers an excellent wholesale and retail9offers an excellent wholesale and retail9

specific edition"specific edition"

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Basic 5nfor$ationBasic 5nfor$ation

*uic+Boo+s is an accounting software*uic+Boo+s is an accounting software

progra$progra$

#esigned for s$all businesses#esigned for s$all businesses

&roduced by 5ntuit&roduced by 5ntuit

An Hoff9the9shelfI accounting infor$ationAn Hoff9the9shelfI accounting infor$ation

syste$syste$

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Gow is *B different fro$ *uic+enGow is *B different fro$ *uic+en

&rogra$s such as *uic+en and Microsoft&rogra$s such as *uic+en and Microsoft

Money are designed to help with personalMoney are designed to help with personal

financesfinancesThis often inoles little $ore than ban+This often inoles little $ore than ban+

account actiityaccount actiity

*uic+Boo+s and &eachtree are business9*uic+Boo+s and &eachtree are business9

orientedorientedThe progra$ is set up around businessThe progra$ is set up around business

transaction cyclestransaction cycles

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Versions of *uic+boo+sVersions of *uic+boo+s

4eatures offered ary depending on the4eatures offered ary depending on the

ersion you haeersion you hae

Main ersions areMain ersions areSi$ple StartSi$ple Start

&ro&ro

&re$ier&re$ier

-nterprise Solutions-nterprise Solutions

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#ifferences between ersions#ifferences between ersions

&rices range fro$ approxi$ately =!>> to&rices range fro$ approxi$ately =!>> to

=1>>> depending on the leel of=1>>> depending on the leel of

co$plexity desiredco$plexity desired

Si$pler ersions proide help withSi$pler ersions proide help with

trac+ing bills and day9to9day transactionstrac+ing bills and day9to9day transactions

More adanced ersions offer payroll andMore adanced ersions offer payroll and

inentory functionsinentory functions

Mac ersions are also aailableMac ersions are also aailable

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?sing *B?sing *B

:peration of *uic+Boo+s differs:peration of *uic+Boo+s differs

so$ewhat fro$ textboo+ descriptions ofso$ewhat fro$ textboo+ descriptions of

accounting processesaccounting processes

?se of *uic+Boo+s is $odeled around?se of *uic+Boo+s is $odeled around

business processes rather than the nutsbusiness processes rather than the nuts

and bolts of the accounting cycleand bolts of the accounting cycle

This feature $ay be helpful to usersThis feature $ay be helpful to users

without a strong bac+ground in accountingwithout a strong bac+ground in accounting

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BA %!!

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Accounting *uic+Boo+s StyleAccounting *uic+Boo+s Style

Ma3or business processes are grouped inMa3or business processes are grouped in

the naigatorsthe naigators

To enter a transaction, go to theTo enter a transaction, go to the

appropriate naigatorappropriate naigator

0lic+ on the necessary docu$ent0lic+ on the necessary docu$ent

*uic+Boo+s generally handles debit

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Accounting *uic+Boo+s StyleAccounting *uic+Boo+s Style

-ach docu$ent represents a co$plete-ach docu$ent represents a co$plete

entry or transactionentry or transaction

Transactions are auto$atically 3ournali6edTransactions are auto$atically 3ournali6ed

and postedand posted

Ceports and financial state$ents areCeports and financial state$ents are

aailable at the clic+ of a $ouseaailable at the clic+ of a $ouse

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4inancial State$ents4inancial State$ents

8ith a $anual syste$, financial8ith a $anual syste$, financial

state$ents are only aailable when thestate$ents are only aailable when the

boo+s are about to be closedboo+s are about to be closed

8ith *uic+Boo+s, the progra$ will8ith *uic+Boo+s, the progra$ will

produce reports and state$ents at anyproduce reports and state$ents at any

ti$eti$e

So no worries 7ot uiteLSo no worries 7ot uiteL

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4inancial State$ents4inancial State$ents

Beware of /5/: effectBeware of /5/: effectState$ents

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#rawbac+s#rawbac+s

4or$s and processes are largely fixed4or$s and processes are largely fixed

5nentory features are difficult to find and5nentory features are difficult to find and

useuse*ualifier the progra$ aailable to us is the*ualifier the progra$ aailable to us is the

%>>% edition, so this $ay hae changed in%>>% edition, so this $ay hae changed in

recent yearsrecent years

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Gands9:n 4eaturesGands9:n 4eatures

5f necessary, 3ournal entries can be $ade5f necessary, 3ournal entries can be $ade

$anually$anually

*uic+Boo+s usually co$es with a*uic+Boo+s usually co$es with a

standardi6ed chart of accountsstandardi6ed chart of accountsGoweer, the user can alter this chart asGoweer, the user can alter this chart as

necessary to $eet indiidual needsnecessary to $eet indiidual needs

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:erall:erall

8hy accounting softwares are useful now8hy accounting softwares are useful now

co$pared to bac+ thenco$pared to bac+ then

Gow is it related to our learning in BA )2Gow is it related to our learning in BA )2

5nternal controls5nternal controls

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*uestions*uestions

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BibliographyBibliography

http