Please help, I need to create a Final Project Report for my project based on My topic that I am using below and my Course Project Outline.

My topic is: Your company has recently expanded and the old accounting software in place is no longer capable of handling the tasks at hand. Its your job to research the various accounting software programs currently on the market (at least two) and make a recommendation. Variation: Whatever type of software your company might needjust make it business-related. For example, software for graphic design, website development, content management, etc.

My Project Outline is shown below.

Course Project Outline.

Cover/Title Page: - A Project report on "A STUDY ON REPLACEMENT OF ACCOUNTING SOFTWARE WITH A LATEST ACCOUNTING SOFTWARE IN ABC LIMITED". Submitted by:

Letter/Memo of Transmittal: -

TO: CEO, ABC Limited

FROM: XYZ

SUBJECT: Study On Replacement Of Accounting Software With New Accounting Software

DATE: October 12th, 2017

I submit herewith my report on benefits of replacing old accounting software with new accounting software featuring latest features and having in-built compliance of latest accounting rules. I have put together a report examines the need for having new accounting software for the organization and compares multiple softwares currently available in the market while recommending final two softwares for consideration.

Any technical questions related to assumptions and nature of report should be addressed to me.

I deeply appreciate your consideration of my recommendation.

Thank you.

Executive Summary: -

ABC Limited can adopt a new of new accounting software solutions available to it, replacing its current, old accounting software. This new software can enable the company to automate their accounting functions like the accounts payable or receivables, Bank conciliation, Bill invoicing, Cash management, maintenance of General ledger, Multi-currency, Pay-roll, Project accounting, Tax management and Revenue recognition etc. also, the new software integration with Microsoft Outlook, Lync, OneNote, and Microsoft Word will enhance the companys performance and lead to effective time management.

This project report examines the need of new accounting software in ABC limited. It includes an exhaustive and thorough comparative analysis of the various available accounting software and their respective costs of installation. Out of all the alternatives analyzed in the report, two software packages, Dynamics and Accounting Xpert, have been selected for further analysis based on their individual relevance to the organizations requirements. Finally, the potential impact of the installation of the accounting software in the company has been studied.

Table of Contents:

Sl. No.	Topic	Page Number
1	Declaration
2	Acknowledgement
3	Introduction & Purpose of project report
4	Industrial & Company Profile
5	Thesis statement & Research Methodology
6	Comparison & Evaluation of Accounting Software
7	Findings, Recommendations & Conclusion
8	References

Introduction: This section sets the stage and purpose of the report. (Minimum of one sentence per point)

Purpose: The overall goals of the report are:

To examine the need of a new accounting software in the Organization.

To compare various accounting software available in the market and their cost of installation in the Company.

To compare and select the two most relevant software that is available to the Organization in the market.

To evaluate the impact of the latest accounting software in the Organization if adapted.

Description/Background: There are a number of accounting software which the current organization can adopt replacing the old accounting software. The new accounting software are associated with many functions which meets the current requirement of the modern organization. For example, Accounts payable or receivables, Bank conciliation, Bill invoicing, Cash management, maintenance of General ledger, Multi-currency, Pay-roll, Project accounting, Tax management and Revenue recognition etc. Apart from all these functions the new accounting software can also be integrated easily with Microsoft Outlook, Lync, OneNote, and Microsoft Word. These all functions of the new accounting software will enhance the performance of the organization with effective time management.

Scope: There a various ideal accounting software that are readily available in the market however based upon the simplicity of operations and utility factors on the mind, the two-accounting software that can be recommended for the Company are Dynamics software by Microsoft and Accounting Xpert by Micronetics.

Discussion - Comparison and Evaluation: -

Present accounting software and its challenges: - Dynamics is user-friendly software and to the Organization that regards the customer service aspect as one of its most critical functions, this software serves just the right purpose. The interface is easy to understand and supports cloud applications. It optimizes the business operations by offering end-to-end capabilities. It helps in various aspects of accounting such as that of Accounts payable or receivables, Bank conciliation, Bill invoicing, Cash management, maintenance of General ledger, Multi-currency, Pay-roll, Project accounting, Tax management and Revenue recognition, apart from many other functions. It provides such business solutions overall that can help drive sales or to improve operations by using them even with the help of mobiles and integrating it seamlessly to Microsoft Outlook, Lync, OneNote, Microsoft Word and with many of the other Microsofts application based software. This is an ideal accounting package thus for the marketing team as well as to enhance customer relationships with the Organization.

Next software to be recommended is Accounting Xpert which is created by Micronetics. Just like Dynamics, this software is also easy to adapt to and regards the features of Customer service. In terms of accounting functions, this software supports various aspects of Accounts receivable and payable functions, Bank Reconciliation, Billing and Invoicing, General Ledger, Cash Management services, Collections, Expense tracking, Fund Accounting and Purchasing. The Journal entry, General ledgers and making of Financial statements are indeed very ideal with this software application. Even in terms of the Payroll reports, the accessibility is simple and complete. However, its basic USP lays on the detailed way the Financial statements are presented such that it could be easily accepted by Banks and other Financial institutions based on which they advance the funds to the Business. It is also highly versatile when it comes to incorporating the tax preparation in the business.

New accounting software and its advantages: -

These days, conservative marketing techniques are not so effective because of the emergence of the online marketing facilities. Through traditional marketing covering the wide range of the target customers globally has become a tedious task. This report speaks about the relevance of the online marketing activities like the pay per click, social media marketing etc. for the success of the organization.

Through the online marketing, the organization can reach a large volume of the target customers easily and can promote their product and services effectively. Through the implementation of the traditional marketing method, covering such a large volume of the customer can enhance the marketing cost and the time consumption will also be very high.

Another benefit of online marketing activities includes the frequent response of the customers about the product or services. Through this method, the customers can post their feedback instantly through blogs so that the management can make necessary changes in the product or in the marketing strategies.

Hence the utilization of the online marketing facilities can achieve competitive advantage for the organization.

Many of the buyers from various businesses contact various software advisors every day for a free consultation. These interactions provide us with valuable insight into emerging trends within specific fields concerning accounting software due to its advantages. The percentage of buyers marked other are using either non-accounting software, a proprietary system or an otherwise unnamed solution.

Suitability of new accounting software to ABC limited: -

Most Small and Midsized Businesses Looking to Replace Existing Software

Roughly 60 percent of the buyers in our sample are using accounting software in some capacity and are looking to upgrade to a more advanced system. Its notable that of these buyers, 35 percent are using some version of accounting software like Tally or QuickBooks.

The first-time buyers in our sample breakdown as follows:

24 percent are managing accounting processes with manual methods (e.g., spreadsheets, pen and paper)

Six percent have no accounting system in place

Six percent are outsourcing their accounting and want to bring it in-house

Advantages of new accounting software to ABC Ltd: -

Interfacing with other existing modules & Additional features: -

Benefits in terms of reduction of manpower due to interfacing: -

Return on investment: -

Findings, Recommendation & conclusion: -

Thus, these above to software could be highly recommended to the Organization that is migrating from the old accounting system to the most contemporary and productive accounting software which is superior in terms of both utility as well as in ease of operations.

References: -

Austen, D., Halls-Bryan, J. and Hailstone, P., 2017. Accounting for Cambridge International AS & A Level Print and Online Student Book Pack. OUP Catalogue.

Amahalu, N.N., Abiahu, M.F.C. and Chinyere, O.J., 2017. Comparative Analysis of Computerized Accounting System and Manual Accounting System of Quoted Microfinance Banks (MFBs) in Nigeria.

Daru, M.U., 2016. Role of accounting software in today scenario. International Journal of Research in Finance and Marketing, 6(6), pp.25-34.

Benbow, P., 2016. Journey of an accounting software company from desktop to online (Doctoral dissertation, Lincoln University).

Ndubuisi, A.N., Chidoziem, A.M.F. and Chinyere, O.J., 2017. Comparative Analysis of Computerized Accounting System and Manual Accounting System of Quoted Microfinance Banks (MFBs) in Nigeria.International Journal of Academic Research in Accounting, Finance and Management Sciences, 7(2), pp.30-43.

Sampaio, D. and Bernardino, J., 2016. Open source accounting software for SMEs. International Journal of Business Information Systems, 23(3), pp.287-306.