Problem-
Xavier Thomas is the CEO of a small business in Hamilton. The current accounting system was implemented 5 years ago and Xavier is considering whether or not to move to use a more modern system. Xavier has heard about XERO and has asked for your advice. Xavier is particularly interested in improving the current bank reconciliation process.
a) Identify the main reasons why companies change existing systems. Relate your answer to the situation described above.
b) What is cloud computing and how can online accounting benefit a business?
c) How could XERO benefit Xavier Thomas?
d) How to set up different access levels for users in XERO and how you reported on revenue from sales by each of the employees.
Additional information-
This problem belongs to Accounting and it discuss about current accounting system which is Xero, which has been implemented in a small business. The disadvantages and advantages of implementing Xero accounting system and setting up different access levels for users in Xero and reporting revenue in the system have been answered in the solution in detail.