financial monitoring system

7/17/2019 Financial Monitoring System

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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

$%$ Statement of the Problem

To create a module that can design a system that &ill upgrade the monitoring

process of financial loans of their clients% 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 order 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%

$%* Current State of the Technology

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 problem arises &hen recently+according to their clients/ first of all the process is slo&+ 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% .IS is a combination of human and

computer based resources that 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% Informationdisplayed 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 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 a computer science discipline%

Computer information system0s1 0CIS1 is a field studying computers and algorithmic



processes+ including their principles+ their 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 decision

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%

$%5 Objecti(e

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%

$%5%$ General Objecti(e

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 and reports%

$%5%* Specific Objecti(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%

• To create a module that &ould 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%

• To de(elop a module that &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&%

• 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%

• To create a module that can monitor the in and out 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 Scope and 8imitation

Scope

• Po&erful+ professional and easy to use%

• Complete system includes 9P:C code reader%

• Comprehensi(e search capabilities%

• Customisable due bac' dates%

8imitations

• The de(eloped system does not accept credit card payment

• The system can4t monitor the finances of the asset+ capital and the liability of

the company

• The system can4t gi(e the financial reports of audit reports+ feasibility study

and the chec' in7out of all the balances of the company

Chapter II

*%; .ethodology of the study

The proponents used the &aterfall model because it can let the proponents (isuali2e clearly the

seuential soft&are de(elopment process in &hich de(elopment is seen as flo&ing steadilydo&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 a uality soft&are produced for the client company%

http://www.selectbs.com/analysis-and-design/what-is-a-software-development-process

http://www.selectbs.com/analysis-and-design/what-is-a-software-development-process



• System engineering phase is &here the planning for the proposed soft&are is to be done%In this phase the proponents &ill be formulating 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 problems%

• After Planning+ 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 <user friendliness= %

• !esigns are no& put to &or' &hen it comes to coding phase% >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 phase% ?ach unit is no& 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 toenhance 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% @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% This is also &here the problems are no& being resol(e by the

proponents by using the data gathered and analy2ed% After 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 put 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 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& 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 hindrance 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 regardingfinancing% >e assured confidentiality of our sur(ey% >e also understood that people6s

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 to respond and thenrecollected 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 regarding financing%

Chapter IV



%$ The ?)isting System

Fort "onifacio ,igh School-.ulti Purpose Cooperati(e is currently using the traditionalmanual 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 of 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 proposed 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 concepts# the IT Concepts and

@on-IT Concepts &hich is (ital for the 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 part that is necessary for the users to understand the use and functionality of the

system%

I%T% Concepts

Data Flow Diagram (DFD)

!ata Flo& !iagram is a graphical representation of the <flo&= of data through an

information system+ modelling its process aspects% !F! is (ery useful because it e)plains the

logic behind the data flo& &ithin our system/ It is useful for communicating current system

'no&ledge to the users% And it helps in defining the boundaries of the system%

It helps us to sho& &hat 'ind of information &ill be input and output from thesystem &here the data &ill come from and go to+ and &here the data &ill be stored% It also helps

us to (isuali2e the data processing%

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 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 decisionma'ing+ data resources such as databases+ the hard&are resources of a system+ decision support

systems+ people management and project management applications+ and any computeri2ed

processes that enable the department to run 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% 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+ it &ill help him7her in the easiest &ay% The

system &ill eliminate record boo's or dayboo's%

Summary

http://www.webopedia.com/TERM/S/software.html

http://www.webopedia.com/TERM/D/database.html

http://www.webopedia.com/TERM/H/hardware.html

http://www.webopedia.com/TERM/D/decision_support_system.html


http://www.webopedia.com/TERM/A/application.html

http://en.wikipedia.org/wiki/Accounting

http://en.wikipedia.org/wiki/General_ledger

http://www.webopedia.com/TERM/S/software.html

http://www.webopedia.com/TERM/D/database.html

http://www.webopedia.com/TERM/H/hardware.html



http://www.webopedia.com/TERM/A/application.html

http://en.wikipedia.org/wiki/Accounting

http://en.wikipedia.org/wiki/General_ledger



This chapter sho&ed the theoretical bac'ground that leads to the design of the

proposed system% The Theoretical 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+ 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 @on-

Information 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 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 needto 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 thefinancial 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 conducted by the group

that is done on the system% It also sho&s the proof that the objecti(es of the project ha(e been

achie(ed%

Conclusion



In a partial fulfilment of the reuirements for the degree of System 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 and research about the

gi(en company% All the problems and &here they6re ha(ing hard time in using their currentsystem%

,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% "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 currentsystem%

"i%liography

Almost >i'ipedia#

*;$*-;-$5% .icrosoft Research+ Cambridge+ .A%

*;$*-;-$% >i'imania *;$*+ George >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%

*;$$-;-*;% .IT Center for Collecti(e Intelligence%

*;$;-$$-**% 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% for guiding us in this 'ind of mother fuc'ing documentation to lead asubstantially 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 in finali2ing easily all the processes she needs in their loaning

and monitoring the financial system%

financial monitoring system

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