III.
PROJECT DESCRIPTION
Zoho Books is a cloud-based accounting software designed primarily for
small and medium-sized businesses. It offers a range of features to help manage
finances, streamline processes, and make informed decisions. Additionally, Zoho
Books provides a comprehensive accounting solution that caters to the needs of
small and medium-sized businesses. Its user-friendly interface, robust features, and
affordability make it a popular choice among entrepreneurs and business owners.
So, businesses must adopt accounting system software because it makes managing
their business faster and more efficient. Therefore, in order to absorb a unique and
efficient accounting system into the business, a step-by step approach is needed to
be followed.
The following listed below are the steps that sole direct supplier must follow
before adopting an accounting software program.
Develop a plan
The GB Furniture Shop's management should consider a number of elements
while developing a strategy, including the delivery method, budget, delivery style,
and target demographic. It is best to learn how to utilize accounting software through
real-world, face-to-face training. Following that, funding must be arranged because it
has a significant impact on the sort of training provided, as well as the delivery
manner.
Design the accounting system
The Zoho software is available in both free and premium versions. The free
edition enables small firms to access basic accounting features without incurring any
upfront charges, making it an appealing option for those on a tight budget. In
contrast, the subscription edition often includes more advanced features and
functionality than the free version, giving users additional flexibility and
customization options to match their individual accounting requirements. The
payment option has three options: standard, professional, and premium. The
management of the GB Furniture Shop could choose whether to use the software's
free version or the premium version, which includes three types of options based on
the characteristics that the management desires for their firm.
Build a training program
The management of the GB Furniture Shop must consider a variety of
aspects when designing a training plan, as training should be planned and
developed ahead of time. The audience is one of the variables that management
must consider since a better understanding of their target audience allows them to
build a more efficient training delivery technique. Following that, a calendar must be
developed in order to ensure completion of the training while keeping the training
time practical and brief. Finally, management may strengthen the employee's
commitment to learning to use the software by taking the time to convey to the
individual the benefits the new program or by offering incentives.
Train your employees on the use of the system
Before the GB Furniture Shop's management can teach their employees, they
must first become familiar with the Saga program and understand how to use it. The
success of the training must subsequently be evaluated by GB Furniture Shop
management. To ensure that the training is more effective in the future, it is critical to
review the learning objectives and material. Management may modify the training for
the next session to focus on areas where participants need to improve.
Make changes and accept the accounting system
After the Saga software system has been configured, the GB Furniture Shop
management may begin planning their final implementation schedule. It is required
to move data from the prior accounting system to Zoho software. Create ways for
dealing with failures during historical data migration. The firm that delivers your
accounting system should be present to ensure that everything is operating as it
should at this critical stage of implementation.
III. BUDGET ANALYSIS
Zoho Standard Professional Premium
Cost P555.58 annually P1,111.15 annually P1,666.73 annually
Inclusions Manage Track Project Multi-
Invoices Expenses Transaction
(Up to 5,000) and Invoice Number
Recurring Project Series
Expenses Tasks Budgeting
Connect and Timesheet Custom
fetch bank & and Billing Buttons
credit card Sales Validation
feeds via bank Approval Rules
feeds provider Retainer Related Lists
Predefined Invoices WebTabs
User Roles Bills Cashflow
Bulk Updates - Forecasting
Accounts Report
Inventory It shows It shows It shows
inventory in inventory in inventory in
items list items list items list
Can view Can view Can view
products and products and products and
details details details
Can check Can check Can check
availability of availability of availability of
products, products, products,
vendor details, vendor vendor
and stocks details, and details, and
It records real- stocks stocks
time inventory It records It records
changes and real-time real-time
set up reorder inventory inventory
alerts and out changes and changes and
of stock alerts set up reorder set up
Inventory alerts and out reorder
report can of stock alerts alerts and
generate Inventory out of stock
automatically report can alerts
generate Inventory
automatically report can
generate
automatically
Reports You can see You can see You can see
and generate and generate and
all the reports all the reports generate all
you needed you needed the reports
automatically automatically you needed
automatically
Expenses Allows you to Allows you to Allows you
track all your track all your to track all
expenses expenses your
expenses
GB Furniture Shop
Monthly Sales P300,000.00
Monthly Miscellaneous Expense P10,000.00
Monthly Salaries Expense for 3 P31,000.00
employees for (300 per day)
Monthly Rent Expense P8,500.00
Monthly Utilities Expense P4,000.00
Monthly Income Before Tax P40,500.00
COGS P206,000.00
Estimated Monthly Income
Free Standard Professional Premium
Sales 300,000.00
Less: COGS 206,000.00
GROSS 94,000.00
SALES
Less:
Expenses
Miscellaneous 10,000.0
0
Salaries
31,000.0
Rent 0
Utilities 8,500.00 53,500.00
4,000.00
Income before deducting 40,500.00
taxes and software
payments
Software Payment P0.00 P555.58 P1,111.15 P1,666.73
Profit before tax after P0.00 P39,944.4 P39,388.85 P38,833.27
deducting software 2
payment
