Response to the following :
MYOB is a leading provider of business management solutions for small to medium size organisations in areas including accounting, payroll, job management and financial reporting. By reviewing the various case studies discussed on the MYOB website1 prepare a report for a small Wollongong based supplier of building materials to licenced builders outlining the benefits of using an online accounting software tool such as MYOB, XERO and Quick books2 . The report should:
1) Outline the various economic transactions and events which would take place in a small wholesale organisation.
2) Outline the benefits of using an online accounting software tool over an organisation relying on maintaining a manual set of books.
3) Provide an example of two transaction cycles (eg sales cycle) in a small wholesale organisation and how an online accounting software tool such as MYOB3 would be useful.
4) The risks and associated costs an organisation may be exposed to due to maintaining a manual set of books
5) Ensure you relate the above with specific reference to the Wollongong based supplier of building materials.
The report is to be Word processed and to be 1,500 words in length.