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Financial Monitoring System
A Project Presented to The Faculty of STI College Global City
In partial Fulfilment Of the Reuirements for the !egree of System Analysis and !esign
"y Submitted "y# Submitted To# Instructor
Chapter I Introduction
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Statement Statement of the Problem Problem To create a module that can design a system that &ill upgrade the monitoring process of financial loans of their clients% The The boo''eeper can easily loo' for the records of their clients and the accountant can easily calculate and sol(e all the salary of each employee% The system can eliminate paper &or's in o rder to sa(e time and less hassle in recording to the due date and balance gi(ing an e)act salary for each of the employee%
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Current Current State of the Technolog Technology y Apparently+ the Fort "onifacio ,igh School-.ulti Purpose Cooperati(e is currently using the traditional manual system that of &hich they using record boo's and more on paper &or's+ so their process is slo&% The The problem arises &hen recently+ according to their clients/ first of all the process is slo&+ difficult difficult in searching the records of the loaners% In order to help the F",S-.ulti Purpose Cooperati(e+ the .IS 0.anagement Information System1 pro(ides information that organi2ations reuire managing themsel(es efficiently and effecti(ely% effecti(ely% .IS is a combination of human and an d computer based resources that results results in the collection+ storage+ retrie(al+ communication and use of data for the purpose of efficient management of operations and for business planning% The main purpose of the .IS is to gi(e managers feedbac' about their o&n performance/ top management can monitor the company as a &hole% Information displayed by the .IS typically sho&s 3actual3 data o(er against 3planned3 results and results from a year before/ thus it measures progress against goals% The .IS recei(es data from company units and functions% Some of the data are collected automatically au tomatically from computer-lin'ed chec'-out counters/ others are 'eyed in at periodic inter(als% Routine reports are pre-programmed and run at inter(als or on demand &hile others are obtained using built-in uery languages/ display functions built into the system are used by managers to chec' on status at des'-side computers connected to the .IS by net&or's% .any sophisticated systems also monitor and display the performance of the company4s stoc'% The .IS typically sho&s+ Information system 0IS1 is the study of complementary net&or's of hard&are and soft&are that people and organi2ations use to collect+ filter+ and process+ create+ and distribute data% The study bridges business and computer science using the theoretical foundations of information and computation to study (arious business models and related algorithmic processes &ithin &ithin a computer science discipline% Computer information system0s1 0CIS1 is a field studying computers and algorithmic
processes+ including their principles+ their soft&are soft&are and hard&are designs+ their applications+ and their impact on society &hile IS emphasi2es functionality o(er design% Any specific information system aims to support operations+ management and d ecision ma'ing% In a broad sense+ the term is used to refer not only to the information and communication technology 0ICT1 that an organi2ation uses+ but also to the &ay in &hich people interact &ith this technology in support of business processes%
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Obje Object cti( i(ee To help the accountant and boo''eeper of the gi(en company that is ha(ing hard time in their current system in the process of consolidating+ calculating and recording the salary of their employees%
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Gene Genera rall Obje Object cti( i(ee The main objecti(e of this study is to design and de(elop a Financial .onitoring System that &ill monitor and impro(e the financial process an d reports%
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Spec Specif ific ic Obje Object cti( i(es es •
To design and de(elop a module that &ill identify ho& many clients are paid% Since their system is a manual+ &e &ill eliminate their record boo's into a computeri2ed system%
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To create create a module that &ould &o uld lessen the time consumption of the registration process of clients% The system can easily (erify if the clients are already registered% The clients &ill pro(ide a code generated by the system barcode from the boo''eeper%
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To de(elop a module that &ould & ould easily (erify the clients6 record% In this module+ the system &ill be able to (erify easily all the records of each client% "y the use of barcode+ automatically the information about the client &ill sho&%
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To create a module that &ill automatically compute the loans of the clients% The system can compute for the loans of each client% The system &ill easily calculate all the loans+ payments+ balance and salary of an employee%
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To create create a module that can ca n monitor the in and out ou t of the money of the company%
The system &ill help the accountant ma'e sure that the accountant 'no&s that the money of the company is secured and he7she 'no&s to &hom or ho& many is been distributed e(eryday and e(ery month% $%5% $%5%5 5
Scop Scopee and and 8imi 8imita tati tion on Scope • • • •
Po&erful+ professional and easy to use% Complete system includes 9P:C code reader% Comprehensi(e search capabilities% Customisable due bac' dates%
8imitations
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The de(eloped system does not accept credit card payment The system can4t monitor the finances of the asset+ capital and the liability of
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the company The system can4t gi(e the financial reports of audit reports+ feasibility study
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and the chec' in7out of all the balances of the company Chapter II
*%; .ethodology of the study The proponents used the &aterfall model because b ecause it can let the proponents (isuali2e ( isuali2e clearly the seuential soft&are de(elopment process de(elopment process in &hich de(elopment is seen as flo&ing steadily do&n&ards li'e a &aterfall through se(eral phases% In this &ay+ the product soft&are cannot be seen on the early phases of the model &hich means this methodology focuses mostly on planning that &ill be the 'ey to ha(e ha (e a uality soft&are produced for the client company%
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System engineering phase is &here the planning for the proposed soft&are is to be done% In this phase the proponents &ill &ill be formulating the the reuirements &hich is a complete description of the beha(ior of a system to be de(eloped% It is the e)pectation of the company on &hat features do they &ant to see on the soft&are that &ould help them eliminate the company6s compan y6s problems% After Planning+ Analysis Analysis is done so that data that is included in ma'ing the soft&are &ould be bro'en do&n to produce a concrete and definite information in order to ma'e a reliable soft&are% In the design phase+ the proponents studies the analy2ed data to come up &ith a system design% System !esign helps in specifying hard&are and system reuirements and also helps in defining o(erall system architecture% It also helps the user to gi(e a better outloo' of the soft&are &hich is called ith inputs from system design+ the system is first de(eloped in small programs called units+ &hich are integrated in the ne)t phase% ?ach unit is de(eloped and tested for its functionality &hich is referred to as 9nit Testing integrated in the Testing Testing phase% ?ach unit is no& n o& de(eloped and tested for its functionality so that designs implemented &ith codes &ill no& be &or'ing% In testing+ All the units de(eloped in the coding phase are integrated into a system% After testing each unit% Post integration the entire system is tested for any faults and failures% @o& in the final phase &hich is the maintenance phase% >hen there are some issues &hich come up in the client en(ironment+ to fi) those issues patches are released% Also to enhance the product some better (ersions are released% .aintenance is done to deli(er these changes in the customer en(ironment% The proponents defines the reuirements that the client &ants+ e)pects to ha(e on the proposed system or in other circumstances+ the features of the soft&are% soft&are% @o& these data that ha(e been gathered and ha(e thought together by the proponents are no& integrated and bro'en do&n so that concrete information &ould no& be produced in order to satisfy
the client6s reuirements% reuirements% This is also &here the problems are no& b eing resol(e by the proponents by using the data gathered and analy2ed% After formulating formulating ideas to come up &ith a uality soft&are+ the proponents no& (isuali2e &hat &ould the soft&are loo' li'e% The proponents no& consider not just its good en(ironment design but also its user friendliness &hich &ill allo& the user to ha(e a better understanding of the soft&are% Also further manipulation of the system is made easy and reliable &ithout ha(ing to study the soft&are6s buttons+ functions and etc% The proponents no& implements codes to the design in order to achie(e its desired function li'e for e)ample+ the proponents pu t in the login screen a forgot pass&ord feature+ the proponents &ill no& put codes in it so that the desired function &hich is to help the user u ser retrie(e the necessary &ord to access the system &ould be achie(ed% After putting the codes into &or'+ necessary actions &ill no& be made in order to test the functionality of the units% The proponents &ill no& no& consider many situations in order to eliminate future errors that &ould be encountered &hile the company is using the soft&are% "y testing each unit &hich is li'e putting integers into a string type field that is also called human error &hich &ill no& be done in order to pre(ent bugs that &ould hinder and &ould also e)ceed the client6s e)pectations% After testing the soft&are and &hen it is implemented on the host company+ it &ould not be one hundred percent sure that the implemented soft&are &ouldn6t produce any error% ?)ternal factors li'e the user or system reuirements &ould be a h indrance on the soft&are% This is no& &here the proponents fi) and ma'e a &ay to undo those errors and it is done on the final phase of the model &hich is the maintenance phase% In this phase the proponents must maintain the functionality of the soft&are for long term use of the company% Patches are no& done or ne&er (ersions of the soft&are is no& released and implemented again on the company to remo(e this errors%
Chapter III
5%$ !ata Gathering Procedures and Output
The data for this research &as collected using a sur(ey uestionnaire% The sur(ey &as created using suitable uestions modified from related research and indi(idual uestions% The sur(ey &as comprised of *; uestions+ &hich &ere related to the participant6s perception perception regarding financing% >e assured confidentiality of our sur(ey% sur(ey% >e also understood that people6s peop le6s consciousness may also affect their honesty and effecti(eness in ans&ering the sur(ey+ and so+ &e ga(e them the option of being anonymous% And &ere gi(en them time time to respond and then recollected the sur(eys the ne)t day% There &ere no incenti(es offered for participating in the research% @e)t+ &e planned the uestions that &ould be as'ing to them% >e inter(ie&ed certain number of faculty members in the population popu lation regarding financing% Chapter IV
%$ The ?)isting System Fort "onifacio ,igh School-.ulti Purpose Cooperati(e is currently using the traditional manual system that of &hich they using record boo's and more on paper &or's%
%* Company "ac'ground F",PC &as managing by the boo''eeper6s and all the faculty members it &as started by .rs% Cecil B% %5 !escription !escription of the the System % !ata Flo& !iagram % !ata !ictionary %D Problem Areas The Proposed System • System O(er(ie& • Process Specification • !ata Flo& !iagram • !ata !ictionary • !ata Specifications • ?ntity Relationship !iagram • Tables7 Files 8ayout • Screen 8ayout7 Specifications • Report7 Form Specifications • Program7 .odule Specifications
Theoretical Framework
Introduction Theoretical frame&or' of the study pro(ides support for the p roposed study by presenting 'no&n relationship among (ariables and setting limits or boundaries for the proposed study% Theoretical frame&or' is di(ided into t&o main concep ts# the IT Concepts and @on-IT Concepts &hich is (ital for the system system discussion% This chapter includes the IT Concepts &hich discuss that technical part of the system &hile the @on-IT Concepts focus on the @on Technical Technical part that is necessary for the users to un derstand the use and functionality of the system%
I%T% Concepts Data Flow Diagram (DFD)
!ata Flo& !iagram is a graphical representation of the
Entity elationship Diagram (ED)
?ntity Relationship !iagram is a data model for describing a database in an abstract &ay% ?R! gi(es graphical and diagrammatical representation of (arious entities+ its attributes and relationships bet&een entities% This is turn helps in the clear understanding of the data structure and in minimi2ing redundancy and other problems% It helps us to sho& the representation of each entity and their relations to each other and sho& ho& the data is shared bet&een entities% It also helps us in computing the organi2ation of data &ithin databases d atabases or information systems%
Management In!ormation System (MIS)
.IS broadly refers to a computer-based system that pro(ides managers &ith the tools to organi2e e(aluate and efficiently manage departments &ithin an organi2ation% It helps us to sho& that the system can include soft&are that helps in decision ma'ing+ data resources such as databases+ the databases+ the hard&are resources hard&are resources of a system+ system+ decision decision support systems+ systems+ people management and project management applications+ and applications+ and any computeri2ed processes that enable the department to run efficiently% efficiently%
@on-I%T% concepts Monitoring
Financial .onitoring is the acti(e monitoring of salaries+ payments and balances information of a company or organisation% This allo&s the accountant to trac' easily ho& much salary+ balance and payments of their employers per &ee' or per month% The accountant can compute and manage the records+ transactions and interact &ith the employees% The accountant creates reports from the recorded financial transactions recorded by the boo''eeper and files forms &ith go(ernment agencies% >ith the help of the system+ the accountant &on6t be facing hard time in monitoring all the transactions about the payments and a(oid complaining of the employers about the mista'en computation of their balances and payments%
"ookkeeping
"oo''eeping is the recording of financial transactions+ and is part of the process of accounting% accounting% Transactions include purchases+ sales+ receipts and payments by an indi(idual or organi2ation% Any process that in(ol(es the recording of financial transaction is a boo''eeping process% The boo''eeper is responsible for ensuring all transactions are recorded in the correct day boo'+ supplier ledger+ customer ledger and general ledger % ,e7she is usually responsible for &riting the 3dayboo's3% The dayboo's consist of purchases+ sales+ receipts+ and payments% "ut in our system+ s ystem+ it &ill help him7her in the easiest &ay% The system &ill eliminate record boo's or dayboo's%
Summary
This chapter sho&ed the theoretical bac'ground that leads to the design of the proposed system% The Theoretical Frame&or' Frame&or' presents the theories &hich e)plain &hy the problem under study e)ists% The abo(e stated also sho&ed a relation to the proposed solution+ solution+ as &ell as the interrelation bet&een the different sections% The concepts stated abo(e are classified as Information Technology and @on-Information Technology Concepts% The Information Technology Concepts used &ere ?ntity Relationship !iagram 0?R!1+ !ata Flo& !iagram 0!F!1 and .anagement Information System 0.IS1% And @onInformation Technology Technology System &as .onitoring of Financials and "oo''eeping%
Financial Monitoring System
Introduction
The F,"S .ultipurpose Cooperati(e is ha(ing a problem &hen it comes to their .anual System% They are ha(ing hard time in consolidating and computing the records of each employee% "y presenting7proposing the computeri2ed Financial monitoring System+ it &ill help the accountant and the boo''eeper to handle all the records and salary that &ill be gi(en to the employees% The system &ill be proposed personally to the registrar of the F",S .ultipurpose Coop% System !esign Specification The registration process is proposed to register the employer6s information% The employee should register his7her name+ middle name+ and last name+ current address+ email address+ contact number and the username and pass&ord% After filling filling the registration form+ he7she &ill ha(e their o&n bar code and code number to be easily identified in gathering informations about them% The recording process is proposed to record the information gi(en on the registration% The basic steps in recording process are identifying and analy2ing transactions and e(ents and reading in journals+ posting to the ledger+ unadjusted trial balance+ adjusted trial balance+ financial statements+ closing entries+ post closing trial balance% The accounting process is proposed to record+ classify+ summari2e and interpret financial information% It presents financial statements% "ut before they can be prepared+ accountants need to gather information about business transactions and records to come up &ith the (alues to be presented in reports% The boo''eeping is proposed to initiali2e all the informations of the employers% "oo''eeping in(ol(es the process of recording+ analysing and interpreting the financial
transactions of a business or indi(idual% The discipline of boo''eeping accounts for a large proportion of the accounting process%
Summary
This chapter introduced ho& the proposed system sol(ed the problem cite in EStatement of the Problem6% The abo(e statements are the processes done by the accountant and the boo''eeper%
#er!ormance $nalysis
Introduction
This chapter pro(ides a list of e)periments+ as &ell as the discussion of the results and obser(ations done on the system% In this chapter also sho&s the proponents pro(e that the objecti(es of the project ha(e been achie(ed%
Performance Analysis The process of re(ie&ing and e(aluating a company4s financial statements 0such as the balance sheet or profit and loss statement1+ thereby gaining an understanding of the financial health of the company and enabling more effecti(e decision ma'ing% Financial statements record financial data/ ho&e(er+ this information must be e(aluated through financial statement analysis to become more useful to in(estors+ shareholders+ managers and other interested parties%
Summary This chapter pro(ides a list of results and obser(ations condu cted by the group that is done on the system% s ystem% It also sho&s the proof that the objecti(es of the project h a(e been achie(ed%
Conclusion
In a partial fulfilment of the reuirements for the degree of System Analysis Analysis and !esign is to ma'e a proposed system that &ill help ma'e or &ill ha(e a solution for the problem of the stated company% The proposed system is called Financial .onitoring System% In gathering information+ &e conducted uestions7inter(ie&s u estions7inter(ie&s and research about the gi(en company% All All the problems and &here they6re ha(ing hard time in using their current system% ,andling more than a hundred of employers is really difficult for the accountant and the boo''eeper if they are just using .anual System &hich is their current system% system% "y the use of the Financial .onitoring System there &ill be no hassle and eliminate hard time in finali2ing the salary of the employers% The proposed system &ill help a lot the boo''eeper and accountant or e(en to the employees of F,"S .ultipurpose Cooperati(e efficient &or'ing in consolidating+ computing and recording the information of the employees% The system &ill also eliminate their current system%
"i%liography
Almost >i'ipedia# *;$*-;-$5% .icrosoft Research+ Cambridge+ .A% *;$*-;-$% >i'imania *;$*+ George >ashington >ashington 9ni(ersity+ !C% *;$$-$$-;*% *;$$-$$-;*% >i'imedia Foundation+ San Francisco+ California% *;$$-$*-*H% Conference on !igital Commons+ "arcelona+ Spain% *;$$-$;-$$% *;$$-$;-$$% 8uncheon Series+ "er'man Center+ ,ar(ard 9ni(ersity% 9ni(ersity% *;$$-;-*;% .IT Center for Collecti(e Intelligence% *;$;-$$-**% Technological Technological Inno(ation+ ?ntrepreneurship+ and Strategy Seminar+ .IT Sloan% *;$;-$$-$% .IT ?conomic Sociology >or'ing Group
$cknowledgement
I &ould li'e to gratefully ac'no&ledge the encouragement and support of my thesis super(isor+ .r% .r% for guiding us in this 'ind of mother fuc'ing documentation to lead a substantially better document% >e appreciate the time and effort spent in reading and helping &ith the re(ision process% I &ould also li'e to than' !r% Clarita "riones+ the registrar of F",S .ultipurpose Cooperati(e for recommending the company &here she6s handling for almost years% Special than's also to .rs% Cecil as the boo''eeper and as the same time accountant for allo&ing us+ gi(ing her trust and spending time to our group in gi(ing the information &e need to create a system that can help her h er in finali2ing easily all the processes she needs in their loaning and monitoring the financial system%