Analysis Of Accounting Information System For Westpac Bank
Part A
The accounting information system includes the collection and the processing of the data which is based on handling the different computerized based instructions. The functions are related to the modules which work towards handling the applications related to the enterprise resource planning. The organization communicate and handle the modules which are integrated into the suite of applications that could easily be set with the manufacturing, supply chain and the human resources. (Westpac, 2017). Westpac works on the handling of the data for the accounts as well as the other formats which are related to the functioning of the inventory management and growth. The functionality is also based on evaluating the changes and how the transactional changes are doe, focusing on the operations which are being held in Australia, New Zealand etc. The funds management with the operations are set to handle the inefficiency and the errors are also evaluated based on the demands of the meetings. The processing of the business systems is based on working over the Xero and MYOB where the transactions are held to work on the different usage of the ATM cards or the check cards.(Wada, 2017).
As per the operations which are set for Westpac, it is seen that the different services for the finance are based on handling the accounting systems with the handling of deposits and the loan structure. The trading facilities and the business operations are set to operate where the bank focus on the product development factors as well. The segments of the customers are depending upon working for a better pattern of leadership which includes the procedures that are for the banking improvement services. (Leon, 2014). Westpac works on the diversified approaches where there is a changing management with the funding companies that work towards the gaining of the resources and working on the improvement of the coal mining. (Parhizkar et al., 2016).
This is based on how the different factors for the ATM card is not able to work towards the development or handling any of the overcharging transactions by the customers. (Sadat et al., 2014). To handle this, the operations work to keep all the different transactions which are cashless intact. One does not have to face the issues which might lead to the depletion of any of the electronic services as well.
The system includes the functioning of the data and how the banking services are evaluated based on properly offering and supporting the automation processes. This works towards the development, with the management of the security and the files that relate to handle the financial applications. The payment instructions are set and the receiving of the reports is through properly working on the process of bank reconciliation. (Nofal et al., 2016). The ERP also works on the improvement of the system and handle the saving of time and money. The process for the payment structure is to handle the efficiency of the business with the structure that includes the increased accuracy patterns. The processing is based on handling the risks which are related to the fraud systems. Hence, for this, the payables and the receivables are measured with the better and the greater flexibility in the system. This allows the accounting part with the increased analysis and control. (Chongsombut et al., 2016). The automation process is based on standardized message formats and working towards the transmission of the payables and the receivable data. (Ganesh et al., 2014).
Organization Structure
The procedures for the sales are based on the receiving agents and how the vendors are able to work on reviewing the different RFQ processes. With this, the receiving of the ordered items and the delivery notes help misanalysing the system response with the preparation of the invoice. (Nzuki et al., 2015). The evaluation is based on how the vendors and the superintendent works on handling the orders, by sending the quote response. The preparation of the different needs with the buyer agent includes the requisition and how the shipping officer is able to handle the sales in the department.
As per the analysis, Westpac has been mainly focusing on working towards the better functioning processes. Hence, for this, the employees are also evaluated on the Xero system. Some of the issues related to the system functioning are based on handling and setting the linkage for the system programming. (Wetpac, 2017). It includes how the employee ID and the previous data of the employees is not deleted and the people add their bank account to the ID of the employees who have left. Along with this, the use of the different networking connections has been seen to be very prominent, along with working and handling the systems which relates to take hold of the performance functioning and the evaluation of the errors under the unbalanced forms. (Mjomba et al., 2015).
The best consideration is to hold the files of the system with the privacy maintenance and setting the system with the possibility that includes the file data deletion and the working, which seems to be irrelevant completely. (Westpac, 2017).
The check is on accounting information system with the cloud based structures and the adoption of the AIS has been remove with the low skills, transactions and other operational roles. The records are mainly related to the configuration settings and making all the decisions that will help in retrieving the raw data. The structure of the accounts payable depends on how the vendor of the system applications works towards the processing and performance for initiating the purchase orders. (Soliman et al., 2015). The accounting information is also streamlines with reports, development of the advanced modelling and the support of the data mining functions. The tools are for the decision making and the financial reporting standards that leads to the handling of all the consolidation programs. The AIS has been focusing on maintaining 1602 packages where there is a proper generation of the reports. The working is based on how the ERP and the SAP systems are able to meet the standards of the innovative portals with the description and control to the different applications. This is based on working towards handling the MYOB and the system standards to meet the better, new and the larger kind of the organization structure. (Westpac, 2017).
The structure for Westpac banking is based on meeting all the different requirements and working towards the process to proceed with the booking with the check on the growth of the system accounting technology. (Mjomba& Kavale, 2015). Here, ERP is also set to improve the accounting standards and how the architectural processes are able to meet the dimensions with the proper information storage. The costs are mainly based on determining the different accounting patterns which are set through the different ledgers.
Operational issues
As per the analysis, Xero has been considered the marketing leader for Westpac where the bank feels happen daily by making it easy to view all the accurate information for the performance of the business numbers. The bank feeds are also backed with some of the simple pricing model where the credit goes to Xero and how it is able to handle the different multiple feeds and the different prices of the subscription. The standards are also checked to maintain the programming of the system and then work towards maintaining the accounting software as well. In this, the consistency approach with the use of the Westpac standards is mainly to administer and work towards the different and the reliable standards. Xerox is one of the best cloud based company which works over the Australian Security Exchange. It also works on the subscriptions that are based on the different types and the entity factors. It also includes the features of the UI designing and how the real time financial situations allow to make the issues invoices with the on-site with the clients. (Westpac, 2017). The particular recognition is about how there are different tax rates and the currencies which allow the invoices to paid directly through the invoice.
The major issue comes with the security of the system, which includes the accessing of the system with the proper check on the security patterns. The system functioning also includes the risks that related to how the vendor of the business failure or holds the small development team failure. The other issues include the lesser support and the reduced cost that has been set for the implementation cost as well. (McWilliams, 2017).For this, the workers need to work on the proper system functioning with particular training time and the costs that are set towards the implementation program.
The best possibility for the system growth is to work on the cloud computing patterns, which includes the use of the SaaS software. Through this, there is a possibility to handle the data encryption and the firewall of the system. The development is based on the system structure and how the challenges are met to acknowledge about the desktop factors. The measures are mainly to take hold of the security functions with the report to acknowledge about the system evaluation. The deals are related to the consolidation program with the setup of the competitive edge that works towards improving the efficiency of the needs and the risks management.
Conclusion
For this, there is a proper track of the activities which are adapted with the information structure. The resources are based on varied industries and the business sizes which includes the data that relates to the revenue, expenses and the customer information. (Wetpac, 2017). The accounting information system includes the query language that allow the table and the manipulation of the data to work on the input standards. The versatility of the data manipulation capabilities is to match with the production of the reports that include the aging reports based on the depreciation schedules with certain fixed assets.
References
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