DESIGN AND IMPLEMENT A COMPUTER BASED ACCOUNTING SYSTEM.

ABSTRACT

          The application of computer in various disciplines has removed a lot of the problems encountered in the use of manual system in the various fields.
In recent years, First Bank, has been using the manual system recording customers credit account records which has brought about some set backs in achieving the goals of the new system.
In this project, I have analyzed the manual system and have identified some of its problems and limitations.  These problems seem to hinder the realization of the goals of the existing system.
With respect to this, I have designed a Computerized Accounting System to help in minimizing some of the problems inherent in the manual system.
The new system reduces errors, operational difficulties and so on, thereby increasing public services and competitive effectiveness and profitability.
ORGANIZATION OF WORK

This work is organized into seven chapters

CHAPTER ONE:         This highlights the aims and objectives of the study, its nature, its limitation and delimitation and the importance derived from doing the work.
CHAPTER TWO:        This deals with the available literature as it is related to the project in question.
CHAPTER THREE:    Describes and analyses the existing system, state the mode of operation and identifies the problems facing it and a solution to the inherent problems.
CHAPTER FOUR:       Design of the new system, taken into consideration the old system and also the new items or structure that is needed to enhance the new system.
CHAPTER FIVE:        Describes the programming phase and its objectives, what the new system must input so that it can undertake the implementation of the designated tasks.
CHAPTER SIX:           Describes the overall achievement of the payment and accounting system and other things that has to be implemented in enhancing the growth of the Bank.
CHAPTER SEVEN:    This deals with the recommendations for the running of newly implemented system and conclusion of the work.
CHAPTER ONE

1.0     INTRODUCTION
          In the twentieth century, the banking world has seen a continuing progress toward fully computerized operations.  At the start of the century there were few mechanical aids with all ledgers, passbook and account statements being written by hand.  By the 1970s the banks and graduated to mechanical accounting combined with an increased in business, this trend toward mechanization was a continuous process, the staffing and expansion difficulties were tackled more forcibly in the 1950s with assistance from electronic data processing techniques.  It was in this period that banks ordered their first computers.
The early installations were of a batch processing nature for data that had to be sent for processing at the computer center and reports produced.  Throughout the 1960s more of the clerical work was computerized and eventually by the end of 1960s all accounts were computerized.
In the middle of 1960s the utilization of branch terminal equipment linked directly to computer center was becoming a feasible proposition.  This culminated in the early 1970s with the introduction of a sophisticated computer-based accounting system in current Account Department.
This project aim is to produce an indigenous software package, which will be used to improve the efficiency of the current Account System for Standard Trust Bank, Enugu.  Although banks have developed packages however because of the following reasons they have failed to meet the need of the Banking Industry efficiently. Firstly, guidelines and polices for Standard Trust Bank are controlled by Central Banks, of which the revises annually there by resulting in unsteady policies as a result, there is no standard whatsoever set for the Banking Industry thus policies are flexible.
Standard Trust Bank, just as most other banks uses packages without modification hence the result is not what they desire.  The modification of these packages to suit the case study as expected will cost expenditure to be wasted.
Efficiency in the banks has always been the foundation underlining the effectiveness of banks operation.  Quick and accurate settlement of customer’s withdrawals, fast depositing system and procedures and the over acknowledge information process with which customers usually regard are also problems which computer-based accounting processes wishes to address by the introduction of software packages.
This package will enable Standard Trust Bank to obtain the efficiency in their account transaction hence draw more customers and more money.  It is menu driver and features top-down and structured programming techniques.
The computer – based accounting system mode of operation provides an instantaneous transaction and processing of data, which gives immediate availability of result for decision-making.  It will improved the efficiency of banks by:

1. Customer’s henceforth spending much less time in collecting their money.
2. There are scarcely any errors because computer handles almost all operations.  If there is any mistake, the computer can always easily pick it.
3. Banks fraud diminishes drastically.
4. There is customer’s satisfaction and Bank recorded substantial increase in their profits.

1.1     STATEMENT OF PROBLEM
          There are many methods that are being used in the current Accounting System.  Unfortunately, these methods are not always real in practice, to the day society.  Even when they are real, they are not as efficient as expected.  Some of the problem encountered by the STB are:
1.       Lack of computer for storage, there is tendency of the STB to loose customer’s file which will bring distrust to them;
2.       Due to lack of computer for accessing the file, there is tendency for them to be slow in retrieval of customer’s file, and updating of files.
3.       Customers spend much more time due to the delay of the bank.
4.       Once there is no computer for calculation, there is tendency for inaccurate calculation.  However, by the end provide a suitable solution to these pressing problems of current computer-based Accounting System.