Process Transaction Data example essay topic

MYOB is one kind of software for people to do accounting. The features of computerized general ledger package can be summarized as follows: Files: MYOB uses the files to store data and processing instructions. When we open the MYOB software, we will be introduced to open a certain file that record all the accounting data about a individual company. Usually the files are classified as different types, including master files, transaction files, history files, and suspense files. Obviously the ledger files are considered as a master file. Storage and Access of Data in MYOB Accounting System: Computers often use sequential or random order to store or access a file.

Nowadays, random store or access is leading the main stream of IT. This method will provide a high speed to store or access data that we need. The data can be saved on a storage medium like a hard disk, floppy disk, or compact disk. However, some storage devices allow sequential access only, such as tape storage. The MYOB will store or access data with a Pentium will in random store / access ways. Processing: Generally, the processing method consists of four types: batch, online, real-time, or report-time processing.

And here MYOB uses the real time to process accounting data. Say, people can enter and process transaction data at any time to update the relevant master files. That means the software will provide a fast response to affect any outcome of the event occurs during accounting cycle. Physical and Logic File Structures: Each MYOB file has a physical structure and a logical structure.

The physical structure stores where the data on the storage medium. The logical structure relates to how the file structures that the users views. MYOB owns a certain logical structure that is more useful for accounting. Data searching: People will search data within the computerized general ledger through a data field.

A MYOB file usually has a primary attribute called command center that identifies it and uniquely identifies it and distinguishes it from other transaction records in the file. Certainly, it also contains several non primary key attributes on the command center sub-menus. Comparison of the processing steps and data recorded between a manual accounting system architecture and MYOB: Manual accounting system mainly relies heavily on the paper documents to record and process data, say the flows of paper documents will exist all over the system. Thus, it!'s clear that the records are quite difficult to backup and once the records are spoiled, it!'s more difficult to find the original data. While the computerized general ledger will be recorded in time, and the accountants can backup the data into the database quite conveniently. The manual accounting system is as equivalent as a batch processing, It means no matter the profit & loss statement or the balance sheet will be done after all the transactions are posted to general ledger from the general ledger.

It!'s easy to find this complex process will lose the timeliness needed in the quick-develop society, remember that no one wants to wait for you. However, under the computerized system, it will provide a fast response to the master file when a transaction is identified in the general journal. At the meantime, the errors may occur during the process by manual recording. People always do wrong when he / she feels tired, but the computer can avoid it quite easily.

Many computerized accounting systems use the summation of the subsidiary ledger with the general ledger control account. Cunningham, ACCOUNTING Information for Business Decisions, Harcourt College Publishers, 2000. Neigh W. & Kahwati G, MYOB, 6th edn., Mc Grew Hill, Boston, 2000. Greene R. & Barrett K. Auditing the Accounting Firms, Financial world, 1994.

Pilcher R., Accounting, Charles sturt University, New South Wales, 2001.