Mr. Krill own the retails stores for fashions and appeals which is sizable business and it has grown during 3 years after established. He believes that it will be possible to modernize some of the business process for reducing the amount of time, which it is taking for data processing. Mr. Krill believes that it can be time to spend in computerized system to record more details about payroll process, sales and the details about the inventory. It has been analyzed that the Mr. Krill wants to open up six further stores throughout the next three years. Currently, his store record no details are captured about the customer only provide details about the purchased goods, the method of payment, member of the staff, purchased quantity, price & totals.When it comes to inventory handling, it has been analyzed that levels of stock are recorded by using the stock card. It can be seen that the details of the new inventory are entered into the cards when the new stock and details of sold units are changed at the termination of each trading day. It has been analyzed that there is a computer for the assistant and Mr. Krill has a laptop computer that he uses to prepare details for the accountant to complete the Business Activity Statement. He also carries out some analysis on spreadsheets for sales forecasting. It can be seen that the accountant of the each store was maintaining details about the sales, purchase and inventory manually not on the Computer.However, the new system implementation of the Computerized system in each of the three stores helps in capturing of sales information, customer details, maintenance of marketing off stock sheets, collection of the data for sales forecasting and helps in calculation of the wages for employees The Solution is provided to the Mr. Krill to implement those changes in existing three stores and open further six stores in the next three years with those changes & developments. For e.g. In this case each of the three stores, captures sales at the point of purchase by the cash register machine. There are two machines in each store operated by the sales counter. The implementation of the computerized system in each store helps in capturing of sales information without the cash register machine which would help the Mr. Krill in minimizing of the cost.For Capturing of the sales information, it can be seen that analysis of the forecasting indulges the usage of the Computer Software. It has been analyzed that the software of sales forecasting would have a format of dashboard in which statistics & charts are clearly visible on the single page.For Maintenance of sheets of marketing off stock, The system may be designed which it activate orders when level of stock arrives point of order for distinct items of the material and test items that are moving slow and provides record of various stock items.For Computation of wages, it is very clear that in recent time, the computerized system can help in operations of the Company like computation of wages, ledger maintenance and invoicing etc. With the implementation of the computerized system in each of the three stores it enables the accountant of the store to calculate accurate wages by using excel feature and spreadsheets. 

Question: 

Outline a range of considerations for developing computerized accounting system specifications based on given scenario.

Answer rating: 100% (QA)

computerised accounting systems are a convenient way of recording storing analysing and reporting financial information At some stage everyone will ne... View the full answer