PROJECT

PROPOSAL
Presenters:
Tayo, Alicia Ashley
Cadag, Frederick
Estiller, Frechie
Ebero, James
Jaca, John Lloyd
 PROJECT
CUSTOM ACCOUNTING SOFTWARE
 PROJECT
INTRODUCTION/

BACKGROUND
 INTRODUCTION

What is an accounting software?

Accounting software is used by accounting professionals to
process financial transactions like;

* Invoicing * Accounts payable

* Tax compliance * Trial balance
* General ledger * Income and expense statements
* Cash flow analysis * Payroll
* Balance sheet
 INTRODUCTION

 With the reports generated, an organization can get

a glimpse of how they are performing financially and
create future budgets.
 Automation of this process leads to a reduction of
staff cost who would previously be engaged in
manual process of data.
 INTRODUCTION

 There is also a reduction on human

accounting error.
 Records are automatically kept up to date.
ADVANTAGES
 ADVANTAGES

Accounting software is capable of recording

and categorizing financial transactions; many
products can also help you pay bills, send
customer invoices, manage payrolls, and run
standards reports directly in the platform.
 ADVANTAGES
There are a few different types of accounting software
available to businesses; some large companies use
customized accounting software or enterprise resource
planning (ERP) software, while small businesses and startups
may use off-the-shelf solutions such as Quickbooks, Wave, or
Exo, with modern finance services like Zeni to keep their
accounting processes running smoothly.
 ADVANTAGES
 It saves time

 It instantly generates key financial

reports
 It syncs all your financial data

 It promotes data accuracy

 ADVANTAGES
 It produces professional-looking financial
statements
 It simplifies payrolls

 It gives detailed insights

 It streamlines tax filing

 It reduces inventory errors

DISADVANTAGES
 DISADVANTAGES

As a new tehnology, Accounting software still

has a lot of growing pains. These pains might be
minor annoyances for most businesses but they
can become significant problems for businesses
that can’t find a way to avoid them.
 DISADVANTAGES
 Software maintenance

Accounting software requires regular maintenance.

Maintenence includes upgrading the package.

 Needs to be a computer savy

While many software programs are user-friendly, they are

built on a foundation of technology that might feel foreign to
some people.
 DISADVANTAGES
 Loss of data

Computer problems happen, and sometimes all it takes is

pushing one wrong button.

 Accounting software can be buggy

There are many types of accounting software, and bugs can

show up in different places and at different times.

 Cost of developing the software

COMPARISON
 COMPARISON

The following comparison of accounting

software documents the various features and
differences between different professional
accounting software, personal finance and other
accounting packages.
 COMPARISON

SIMILARITIES

> Automate invoices > Dynamic reports and

> Track expenses analysis

> Manage documents > Manage inventory

> Monitor transactions
 COMPARISON

DIFFERENCES
> Bank synchronization
> Security

> Less expense

> Easy to upgrade or downgrade
> Easy to access
EXPECTED

OUTPUT
 EXPECTED OUTPUT

PROGRAM HOST
Cloud Hosting

Cloud - based accounting software for businesses can

provide much better scalability and flexibility for the running

of accounting programs.
 EXPECTED OUTPUT
Accounting Software Dashboard
 EXPECTED OUTPUT
Multiple Folders
 EXPECTED OUTPUT
FEATURES
Bank Synchronization Automate Invoices
 EXPECTED OUTPUT
FEATURES
Track Expenses
Manage Documents
 EXPECTED OUTPUTS
FEATURES
Manage Inventory Monitor Transactions
 EXPECTED OUTPUT
FEATURES
Dynamic reports Reconciliation
LONG TERM

BENEFITS
 LONG TERM BENEFITS

 Improves efficiency

 Reduces human errors

 Faster data processing

 Higher security

 Competitive advantage
RETURN ON
INVESTMENT
 RETURN ON INVESTMENT
OFF-THE-SHELF ACCOUNTING SOFTWARE
 Premium/Subscription cost

For an advanced accounting systems with more users, you

can expect to pay closer to Php. 20,000 per user, per month.
(Php. 20,000 x 12 = Php. 240,000 per year)
 RETURN ON INVESTMENT
CUSTOM ACCOUNTING SOFTWARE
 Implementation cost

One time fees associated with setting up a new software

solution.
* Training cost * Customization cost * Data Migration
* Maintenance * Configuration cost * Upgrade cost

(Average cost of implementation - $20,000 or Php. 1,023, 810)

 RETURN ON INVESTMENT

YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5

Off-the-shelf
Accounting Php Php Php Php Php
Software 240,000 480,000 720,000 960,000 1,200,000

- - - -
Custom
Accounting Php
Software 1,023,810
 RETURN ON INVESTMENT
After a five year period, Off-the-shelf accounting software
has an expected cost of (Php. 1,200,000).
While Custom accounting software has an expected cost of
(Php. 1,023,810).
If we subtract, (Php. 1,200,000 - Php. 1,023,810)
the difference will be Php. 176,190.

Investment gain = Php. 176,190 for a five year period

 RETURN ON INVESTMENT

ROI FORMULA = Investment gain/Investment base

ROI = 176,190/1,023,810

ROI = 0.17209 or 17.21% over a five year period

BUDGETING
 BUDGETING

Value Proposition Budgeting

Value proposition budgeting is really a

mindset about making sure that everything that
is included in the budget delivers value for the
business.
 BUDGETING

In value proposition budgeting, the budgeter considers the

following questions:
 Why is this amount included in the budget?

Configuration cost - Php. 12,800

Data migration cost - Php. 38, 400

 BUDGETING

 Does the item create value for customers, staff, or

other stakeholders?

 Does the value of the item outweigh its cost?

 SUMMARY
Accounting software is a very useful tool for many businesses
in managing finances and accounting reports.
Likewise, maintaining the company’s confidential documents and
analysis is vital.

Hence, some problems may occur in developing accounting

software, but with the emerging advancement on technology,
accounting software became a reliable tool for keeping and
maintaining company’s records.
THANK
YOU