http://www.mbtmag.com/article/CA6600235.html&
Summary
This article is about the latest version of an IBM System named Info ERP XA. This system is a comprehensive system that can master order processing, inventory management, production reporting and many other functions. Compare to the previous system, info ERP XA 7.8 been improved in a lot of area. It is faster in retrieving data and all other performance. It can also automatically update the accounts such as accounts receivable, accounts payable, and cash. Besides, this version updates the currency decimal point for various foreign monies. Therefore, the newest version of info ERP XA helps the accountants save up a lot of time.
Connection
In chapter 11.5, the book talks about the history of the perpetual inventory system. First, people uses a card file to record all the information, and then made copies of receiving reports every time. All the financial statements were also written out. In now days, people will do the inventory management and financial statements on the computer. Now we also can use only a single system to do all those things, and it has so many extra functions, so the chance of making a mistake has reduced to the lowest.
Personal Reflection
After I read this article I am amaze by the numbers of things that the Info ERP XA can actually do. I realized that I really have a very limited knowledge of the accounting world. Before I thought that the financial statements and inventory management are all done in Microsoft Office. Then later on I knew that there are some specific softwares for doing those kinds of things such as Simple Accounting. However, I never thought of that one single system can manage to do all of the things in accounting.
3 comments:
I agree, the ERP XA system can be very useful to many businesses, especially big business like Futureshop. Since big companies have many transactions everyday, it is impossible to keep track of every one of them, but with this system these big companies will be able to keep track of their transactions. I was very impress that this system is able to updates the currency decimal point for various foreign monies. This system will help many accountants do some of their work. Even though this system is great, but how much money will it cost a business to run a system like the ERP XA?
S.Zhang
The ERP XA system is rather impressive as it only needs one program to do all the accountant needs to do. That would be a great asset to big companies like superstore and Ikea as they have thousands of transactions each and everyday so recording all of those would be a very big task. But now that this system has been established they would not be so worried about the accounting being done. But could this system be operated by someone that knows only a very limited amount of accounting knowledge? Or does it need a professional accountant to maximize its uses?
Hi, Ronald,
Seems the article you have read is all about the Infor ERP XA system. I think the article’s introduction is too long. Also the examples the article gives are too less. I need more simple examples to understand a complex system like this one. This article is quite appropriate to chapter 11.5. But sometimes computer is easy to loss information. Saving too many details in a computer without any anti-virus software is pretty dangerous.
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