A Study on

ACCOUNTING SOFTWARE & ONBOARDING

With special reference to

Polaris Financial Technology

SUBMITTED BY

BINOY P.V

ROLL NO. 1341004

Master of Business Administration

Under the Guidance of

RAGOTHAMAN

FINANCE TEAM LEADER

Polaris Financial Technology

FACILITATED BY: HRD DEPARTMENT OF POLARIS FT

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PETER WILSON (HRD)

DECLARATION

I, BINOY P V declare that this project report entitled “ASTUDY ON

ACCOUNTING SOFTWARE &ON BOARDINGIN Polaris Financial

Technology” has been prepared by me during the period from 12-06-2014 to 18-

07-2014 under the guidance of Mr. Ragothaman (Finance Team Leader) is the

result of my own work and has not been submitted to any other institute or

university earlier.

Place: Chennai

(BINOY P V)

Date:

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ACKNOWLEDGEMENT

I take this opportunity to express my deepest and heart full gratitude

to School Of Management, HINDUSTAN INSTITUTE OF TECHNOLOGY

& SCIENCE, for providing me an opportunity to take of this project.

I also wish to thank our internal guide Prof. Dr. Yamuna Krishnan for her

valuable guidance, encouragement and co-operation throughout the completion of

the project.

This project is a result of the hard work & sincere effort put by many hands.

I render my sincere thanks to Mr.PETER WILSON (sir), HR of POLARISFT for

giving me this opportunity to do my project work.

I express my sincere thanks to Mr. RAGOTHAMAN (sir), Team Leader

(F&A), whose supervision, valuable guidance & help enabled me to complete this

project work.

I also wish to express my sincere thanks to all the staff members of

POLARISFT who have directly or indirectly lend me a helping hand in

completing my project work.

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INDEX

CHAPTER 1: INTRODUCTION…………………………………………..5-15

CHAPTER 2: METHODOLOGY. ……………………………………….16-17

CHAPTER 3: ACCOUNTING SOFTWARE (ORACLE)………………18-27

CHAPTER 4: ONBOARDING PROCESS……………………………….28-30

CHAPTER 5: FINDINGS, SUGGESTION& CONCLUSTION……………31

CHAPTER 6: BIBLIOGRAPHY……………………………………………..32

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INTRODUCTION OF ACCOUNTING SOFTWARE:

In a modern economy with increased technological presence, organizations rely on computer

information systems to record operating transactions and report corporate data. Accounting

applications play a central role in a firm's financial management strategy.

Identification

Accounting software consists of computer applications and programs that all organizations,

including nonprofits, businesses and government agencies, use to record and report financial

information. The software may cover specific areas, such as accounts receivable or payable, or

broad operating fields, such as departmental budgets or financial statements.

Purpose

Accounting software play a significant role in corporate decision-making processes. The

software helps senior management plan budget work and financial accounting and reporting

activities. Accounting managers also use the software to prepare financial statements, such as

balance sheets, income statements, cash flow statements and equity statements.

Types

Organizations purchase accounting software based on operating activities, regulatory compliance

requirements and financial reporting needs, according to Accounting Software Advisor, an

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accounting and information technology consulting firm. A small business typically purchases a

limited-scope accounting software, while a large company generally needs an enterprise resource

planning software.

INTRODUCTION OF ONBOARDING

On boarding also known as organizational socialization refers to the mechanism through which

new employees acquire the necessary knowledge, skills, and behaviors to become effective

organizational members and insiders. Tactics used in this process include formal meetings,

lectures, videos, printed materials, or computer- based orientations to introduce newcomers to

their new jobs and organizations. Researchers has demonstrated that these socialization

techniques lead to positive outcomes for new employees such as higher job satisfaction, better

job performance, greater organizational commitment, and reduction in occupational stress and

intent to quit. These outcomes are particularly important to an organization looking to retain a

competitive advantage in an increasingly mobile and globalized workforce.

INDUSTRY PROFILE

INFORMATION TECHNOLOGY (IT) is the acquisition, processing, storage

and dissemination of vocal, pictorial, textual and numerical information by a microelectronic

based combination of computing and telecommunications. IT is the area of managing technology

and spans wide variety of areas that include but are not limited to things such as

processes, computer software, systems, computer, programming languages, and data constructs.

In short, anything that renders data, information or perceived knowledge in any visual format

whatsoever, via any multimedia distribution mechanism, is considered part of the domain space

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known as Information Technology (IT). IT provides businesses with four sets of core services to

help execute the business strategy. These four core services are broken into business process

automation, providing information, connecting with customers, and productivity tools.

Information technology in India is an industry consisting of two major components: IT

Services and business process outsourcing (BPO). The sector has increased its contribution to

India's GDP from 1.2% in 1998 to 7.5% in 2012.According to NASSCOM, the sector aggregated

revenues of US$100 billion in 2012, where export and domestic revenue stood at US$69.1

billion and US$31.7 billion respectively, growing by over 9%.

Information technology is playing an important role in India today & has transformed India's

image from a slow moving bureaucratic economy to a land of innovative entrepreneurs.

The IT sector in India is generating 2.5 million direct employments. India is now one of the

biggest IT capitals of the modern world and all the major players in the world IT sector are

present in the country.

The major cities that account for about nearly 90% of the sector's exports

are Bangalore, Chennai, Kolkata, Hyderabad, Trivandrum, Noida, Mumbai and Pune. Bangalore 

is considered to be the Silicon Valley of India because it is the leading IT exporter. Exports

dominate the industry and constitute about 77% of the total industry revenue. However, the

domestic market is also significant with a robust revenue growth. The industry’s share of total

Indian exports (merchandise plus services) increased from less than 4% in FY1998 to about 25%

in FY2012. According to Gartner, the "Top Five Indian IT Services Providers" are Tata

Consultancy Services, Infosys, Cognizant, Wipro and HCL Technologies.

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MAJOR IT HUBS WITH RANK AND DISCRIPTION

1. BANGLORE

Popularly known as the Silicon Valley of India and leading software exporter from India.

Bangalore is considered to be a global information technology hub of India.

2. CHENNAI

Chennai is the Second largest exporter of IT and ITES of India, and is the BPO hub of

India.

3. HYDERABAD

Hyderabad is a major IT hub in India. It has become the first destination for

the Microsoft development center in India and largest software development center

outside of their headquarters in Redmond, Washington. It is also known as Cyber Abad

which consists of many Multinational companies such as Google, Facebook, Microsoft

etc...

4. MUMBAI

The Financial capital of India, but recently many IT companies have established offices

5. DELHI

The National Capital Region comprising Delhi, Gurgaon and Noida are clusters of

software development.

6. PUNE

Major Indian and International Firms present in Pune. Pune is also C-DAC headquarters.

7. KOLKATA

The city is a major back-end operational hub for IBM, Deloitte.

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8. BHUBANESWAR

The capital city of Odessa, an emerging IT and education hub, is one of India's fastest

developing cities

9. THIRUVANANTHAPURAM

The capital of Kerala, now houses all major IT companies including Oracle, TCS,

Infosys, and contributes in IT export of India.

10. KOCHI

The commercial capital of Kerala, now houses all major IT companies including TCS,

Cognizant, and contributes in IT export of India.

COMPANY PROFILE ABOUT POLARIS:

Polaris Financial Technology Limited was incorporated in 1993 by Mr. Ravi Dehariya (Jabalpur

Dist). It was one of the first vendors that Citi Group chose to partner with, when it entered

India. Simultaneously, Citigroup started its own company called COSL (Citibank Overseas

Software Ltd) to exploit cheap labour in India. COSL, later renamed as Orbitech, was then

merged with Polaris. In 2003, Polaris launched its core product portfolio, IntellectTM. In

November 2011, the organization changed its name from Polaris Software Labs Limited to

Polaris Financial Technology Limited to highlight its primary domain of operation. Polaris FT is

a leading Financial Technology company headquartered in Chennai. With its comprehensive

portfolio of products, smart legacy modernization services and consulting, Polaris offers state-of-

the-art solutions for Core Banking, Corporate Banking, Wealth & Asset Management and

Insurance. Polaris is the chosen partner for 9 of the top 10 global banks and 7 of the 10 top

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global insurance companies. Polaris believes that value creation in an outsourcing relationship

grows as customer relationships mature with time. Relationship, expertise, technology,

Intellectual Property and Global Reach are the routes that enable the company to come closer to

its customers worldwide.

SUBSIDIARIES:

Apart from the Polaris Financial Technology Limited’s global subsidiaries, the company has the

following Subsidiaries and Associate companies:

Polaris Enterprise Solutions Limited (PESL) - a 100% subsidiary of Polaris Financial

Technology incorporated in India, is a leading technology provider in Retail, Manufacturing,

Logistics & Distribution, Telecom & Media and Travel Industry.

Adrenalin E-Systems Limited (ASL) - Adrenalin E-Systems Limited is primarily engaged in

the business of providing specific solutions relating to Human resource and payroll

management.

NMS Works Software Private Limited (NMS) - NMS is primarily engaged in the business of

designing network management in Telecommunication and Internet Services.

Sonali Polaris FT Limited - Polaris FT has entered into a JV agreement with Sonali Bank to

implement online real time core banking solution for Sonali bank and Bangladesh commerce

bank, and offer services to other banks and financial institutions in Bangladesh. Accordingly,

the Company has incorporated a subsidiary company with 51% holding, named Sonali

Polaris FT limited in terms of the JV agreement.

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COMPANY SYMBOL:

POLARIS VISION:

Create the environment to attain personal mastery to push new frontiers

Unleash the collective knowledge potential

Achieve global stature by helping customers win in their market place

Grow the value of Polaris every year

Anchor the family and its aspirations

Impact the society at large

Rooted in Polaris Values – Passion, Humility, Integrity, Respect, FUN - ‘PHIR FUN’

POLARIS MISSION:

“To be a reliable and responsive Techno-Business Solution partner and provide cost-effective,

timely solution, meeting customer expectation through continuous process improvement and

Win-Win relationships in the Banking, Financial Services.

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Awards and Accolades:

2011: Polaris featured in FinTech top 100 companies’ worldwide providing services to the

financial sector at a rank of 38 worldwide.

2008: Polaris' 'Ullas Trust' wins the Best CSR Practice Awards presented by BSE-

NASSCOM-Times Foundation – 2008.

2006: Recognized as Global Leader in the Specialty Application Development by

Cybermedia.

2003: Polaris' Intellect Treasury won The Banker Capital Markets Projects Award.

2000: Rated amongst Forbes World’s Best Small Companies – 2000

POLARIS GROUP COMPANIES

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MERGERS & ACQUISTIONS

1993 Polaris Software Lab Ltd. Incorporated

1994 End-to-End Retail banking solution for Citi Bank India

1995 Quality Processes aligned to SEI- CMM Level 3

1996 Operations set up in USA

Ullas Trust – Polaris’ CSR was formed1997 First Overseas Development Centre commissioned for CITI Bank

Wholly owned subsidiary founded in Singapore and USA

Polestar Trust instituted to recognize Excellence in Business and IT Journalism

1998 Wholly owned subsidiary founded in UK

Quality Processes Aligned to SEI- CMM Level 4

 Quality Processes ISO -9001 certified 

Birth of Polaris Retail InfoTech Limited

1999 Initial Public Offering over-subscribed by 21 times

Awarded "Best International Business Excellence" Award 

2000 Wholly owned subsidiaries founded in Germany, Switzerland and Australia

Ranked among "Fab Five" companies in India by Intelligent Investor 

 Rated amongst Forbes World’s Best Small Companies

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2001 Commenced operations in Japan

Became world’s first CMMI level 5 company 

Rated as 'Fastest growing company in India' by Computers Today andBusiness World

2002 Ranked amongst Top 200 Best Small Companies in the World for the 2nd

time, Top 25 Best Employers in the country &Top 10 IT Wealth Creators –

Business Today

2003 Birth of Intellect & optimums

The Banker Technology' Award

2004 Ranked 9th by NASSCOM Top 20 Exporters

Received Mother Teresa Corporate Citizen Award

2005  Launch of next generation Intellect Banking Platforms Incorporation of

subsidiary in Canada2006 World’s First Super Specialty Center for Investment Banking, The

Capital

inaugurated in Hyderabad

 Entry into Latin America2007 Launched PACE Lab in Sydney 

Won Banker’s Award for Intellect Treasury

Won Global Leader in the Specialty Application Development - 2nd Year in a row

2008  Acquired SEEC Inc., the worldwide SOA based Insurance solution provider

 Polaris' Ulla’s Trust won the Best CSR Practice Awards presented by BSE-NASSCOM-Times Foundation

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2009 Launched Global Universal Banking Intellect

Laser Soft won NDTV Business Leadership Awards 2009 under the ‘Inclusion and Diversity’ category.

2010 Intellect wins the “Early Technology Adopter” award at Accord Loma Forum

Polaris Launches the School of Financial Technology

2011 Polaris Wins Two Prestigious Awards for its Highly Innovative Core Banking and Wealth Implementations at 5th Asian Banker Technology Implementation Awards

2012 Entered into a business purchase agreement with Pyxis, a specialized playerin Front Office and Market Risk, related to cash and derivatives instruments

CORPORATE SOCIAL RESPONSIBILITY

Polaris Financial Technology Limited started the Ullas Trust in 1997 to nurture dreams and

encourage a 'can do' spirit among economically challenged adolescent students. Polaris

associates support and manage this trust. It organizes educative and informative sessions for the

students, where volunteers from the organization teach computer and internet basics and counsel

students on career prospects. Ulla’s inbuilt 3 layered structures such as volunteer, financial and

content infrastructure make it a sustainable and repeatable model that is scaled across India. The

program targets students (from Class Grade 9 to 12) from districts as well as urban areas

students.

SAMPADA - Special Appreciation and Mentoring Program Acknowledging Differently Abled is

an inclusion program at Polaris where company hires Differently Abled People for company's

mainstream. Around 18% of associates at the Intellect Products Group business solution center

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of Polaris are SAMPADA colleagues. It had been awarded India's best CSR Company by

NASSCOM 2010.

OBJECTIVE OF THE STUDY

1. To identify the function, duties, responsibilities and maintenance of each department.

2. To understand about the accounting and onboarding program at POLARIS

FINANCIAL TECHNOLOGY.

SCOPE OF THE STUDY

The benefits of the study is to gain knowledge and handful experience about

accounting and on boarding formalities.

The key points of my study are:

1. To study the facts about POLARIS FINANCIAL TECHNOLOGY as a group.

2. To understand and analyze On boarding and Accounting at POLARIS FINANCIAL

TECHNOLOGY

LIMITATIONS OF THE STUDY

The following are the limitations of the study:

An in-depth study was not possible because the time limit was the main constraint.

The study is limited only to Polaris Financial Technologies at Navalur Chennai.

Improper answers were given by the employee due to the fear they had towards the

organization.

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METHODOLOGY

DESCRIPTIVE RESEARCH

Descriptive research studies are conducted when the characteristics of certain groups are

to be described. It deals with determining the frequency with which something occurs or

determining the relationship between two or more variables .it includes survey and fact finding

enquires of different kinds. The major purpose of descriptive research is description of the state

of affair, as it exists as present. The main feature of this method is that the researcher has no

control over the variable. It can only report what has happened or what is happening. It seeks to

describe something that this type of research is a highly structured and rigid in its approach to

data collection.

DATA SOURCE

The research is based on secondary data and the data is collected from company manuals,

various website and from employees in the organization.

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PeopleSoft, Inc. was a company that provided Human Resource Management Systems (HRMS),

Financial Management Solutions (FMS), Supply Chain Management (SCM), Customer

Relationship Management (CRM), and Enterprise Performance Management (EPM) software, as

well as software for manufacturing, enterprise performance management, and student

administration to large corporations, governments, and organizations. It existed as an

independent corporation until its acquisition by Oracle Corporation in 2005. The PeopleSoft

name and product line are now marketed by Oracle.

PeopleSoft Financial Management Solutions (FMS) and Supply Chain Management (SCM) are

part of the same package, commonly known as Financials and Supply Chain Management

(FSCM).

Common Elements Used in PeopleSoft

As of Date:-The last date for which a report or process includes data.

Business Unit: -An identification code that represents a high-level organization of business

Information. You can use a business unit to define regional or departmental units

Within a larger organization.

Description: -Free flow text up to 30 characters.

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Effective Date: -Date on which a table row becomes effective; the date that an action begins.

For Example, if you want to close out a ledger on June 30, the effective date for the Ledger

closing would be July 1. This date also determines when you can view and Change the

information. Pages or panels and batch processes that use the Information use the current row.

EmplD: - (employee ID) Unique identification code for an individual associated with your organization

Gross Amount: -The full amount of the voucher, including merchandise and service amounts

(Entered on the voucher line), freight, sales tax, and inclusive VAT.

Invoice ID or Invoice Number: -Typically, this is the invoice number or some other control

number from the Voucher’s supporting document. The system uses this number as a reference

for duplicate invoice checking if you have selected it as one of your match criteria.

Invoice Date: -The vendor's invoice date.

Location: - A vendor location is not a physical address.

Run: -This button takes you to the Process Scheduler request page, where you can

Specify the location where a process or job runs and the process output format.

Short Description: - Free flow text up to 15 characters.

User ID: -The system identifier for the individual who generates a transaction.

Vendor ID: -The system-assigned or user-defined identification number given to a vendor

When it is created.

Voucher ID: -The system-assigned or user-defined identification number given to a voucher

When it is created.

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VALIDATION

Validation means checking whether the produced bills total and the amount claimed amount is

same or not. After that following process will go on

a) Project name – in order to identify that the voucher belongs to a particular project, the project

name needs to be stamped / marked on the voucher.

b) Voucher number – the voucher should be numbered and these voucher numbers should be

pre-printed. The voucher book should be officially issued to the person responsible for

preparation of vouchers. Any vouchers wrongly written should be marked `CANCELLED’

across the face of the voucher and left in the book itself. Hence, either the vouchers would have

been used and taken into the cash book or be left as cancelled or accounted for as balance

remaining. This is a good practice in accounting and can be introduced over a period of time.

c) Date and the serial number of the voucher used.

d) Classification – The cost centers and line items are clearly specified in the proposal. On the

basis of the nature of expenses, it is verified that the expense is correctly classified into the

various line items as appearing in the proposal.

e) Narration – there should be a detailed narration in support of the classification showing the

description of the transactions.

f) Amount – it is verified that the amount on the voucher is equal to the amount reflected by the

supporting documents, or matches any adjustments effected (e.g.: advance payments adjusted)

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g) Supporting documents – these are in the form of original bills, which are\ the real proof of

transactions based on which payment is affected. The classification of the expense is based on

the nature of expense reflected by these documents and the amount on the voucher should be the

amount reflected by these documents.

h) Signature of the person preparing the voucher

i) Signature of the person authorizing payment (To verify with the delegation of powers of each

member authorized within the organization to approve payments)

ACCOUNTS PAYABLE

An accounting entry that represents an entity’s obligation to pay off a short term debt to its

creditors. The accounts payable entry is found on balance sheet under the current liabilities.

Accounts payable are often referred to as "payables”. Another common usage of AP refers to a

business department or division that is responsible for making payments owed by the company to

suppliers and other creditors.

The expenses occurred within organization are entered in as accounts payable in PolarisFT.

Some of the expenses are purchase of A4 sheets, employee’s marriage gifts, Food and expenses,

Telephone bills etc… These bills are validated and then entered in the PeopleSoft.

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STEPS TO ENTER ACCOUNTS PAYABLE IN PEOPLESOFT

STEP 1. Log in PeopleSoft by entering user ID and Password.

STEP 2.

After entering user Id and Password click on to accounts payable. Then add voucher and then

find the existing one. It is done because to check whether the bills are already entered or not. If

it’s already entered means just write voucher ID and sign the paper.

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STEP 3.

If it’s not entered click add new and fill Business unit, Vendor ID, Date, etc... Then another page

will appear in that add description what type of expense the employee is made is and same

description should be copied in the command box. After that enter account code for each

expenses they have particular expense code, then amount, business unit, location. Completing

this click on Run it will give the Voucher ID. These voucher ID has to be noted in the document

and have to be signed.

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Travel Expenses

The costs associated with traveling for the purpose of conducting business-related activities.

Travel expenses can generally be deducted by employees as non-reimbursed travel expenses that

are incurred while traveling away from home specifically for business purposes, such as for a

conference or meeting. While many travel expenses can be deducted, those that are lavish or

extravagant in nature, or those that are for personal purposes, are excluded.

In Polaris Financial Technologies they use oracle PeopleSoft to enter all the transaction occur in

the company. The main transaction was Accounts payable and travel expenses which I had come

across a lot.

POLARISFT TRAVEL POLICY

In Polarisft two types of visit

1. Business travel &

2. Travel on project /Assignment

Classes of Tickets

International travel related to customer meetings and deal closure associates in executive V.P &

above eligible to travel on business class.

All domestic travel will be economy class only.

Associates are required to produce proof of expenses while settling the claims.

In case they needed money in advance they have to raise WFA.

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FOREX ADVANCES

The advance given to an associate should be between 1000 USD to 3000 USD or equivalent even

if an associate likely to stay for long duration.

The following expenses will be reimbursed to the individuals:

Taxi fare from home to airport

Taxi fare from airport to guest house / hotel abroad

Airport tax on departure from India

Airport tax at destination if any

Immigration related expenses

Food and accommodation.

Accessing Travel and Expenses

The expense report is available in the financials production system, FSPRD.

1. Login to Oracle PeopleSoft

2. Open the Expense Report Entry page by clicking on the following menu items:

Employee Self-Service > Travel and Expense Center > Expense Report > Create

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Creating an Expense Report

The following information is intended as a supplement to the cover in the online Travel and

Expenses (T&E). Travel related expense reimbursements are to be processed in the PeopleSoft

Travel and Expense (T&E) Module.

Entering an Expense Report for Travel Reimbursement

On the Expense Report Entry page, complete the following General Information

1. Description– enters a brief (up to 30 characters) description of your travel.

2. Business Purpose– select a Business Purpose from the drop-down list.

3. Default Location– Enter the first few letters of the destination where you traveled, then click

the lookup icon to search for and select the location.

4. In the Comment box enter additional trip details including business purpose, event, and dates

of travel.

5. If you need to check or change any account information, click on the Accounting Defaults

link, make your changes, and return to the Expense Report Entry page by clicking on the OK

button. The accounting defaults will be applied to all expense lines. If the accounting information

for a specific expense is different than the default, you can change it for this item.

Entering Your Expenses in the Details Section

6. To get you started, four blank lines are displayed in the Details section Overview tab.

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a) Select an Expense Type from the drop-down list.

b) In the Expense Date field, type the date the expense occurred or click the calendar icon to

select the date.

c) Enter the amount you spent for the expense in the Amount Spent field. For Transport-Mileage

and Per Diem Meals, the amount is calculated for you based on detail you provide in step.

a. If you used a type of currency other than USD, enter the currency code in the Currencyfield

first, then go back and enter the foreign amount spent in the Amount Spent field.

d) Select a Payment Type from the drop-down list to indicate how you paid for the expense.

e) Select a Billing Type from the drop-down list.

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ONBOARDING PROCESS AT POLARIS FINANCIAL TECHNOLOGY

LIMITED

Welcoming new employees.

Verifying the employees

Educational certificates

Proof of date of birth

Four passport sized photos of self

Relieving letter from the previous employer

Copy of experience certificates for all previous employments

Salary slips certificates from the previous employer

Copies of certificates

Nomination and address proof of the employer

Helping the employees to fill the joining formalities.

After joining formalities has got over new employees should undergo induction process.

During the process of induction, the new member is briefed about the following:

Company profile and product

Organizational policies and procedures

Employees involvement activities

Employee ID card creation.

Provide new ID card to the employees.

Create log in ID for new employees.

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Each employee in the organization has their own Log in ID and password. The staff in

the organization has given excel sheet which contains URL, Name, User name, Password

and Designation.

Providing joining kit which contains books, notepad, and pen to the employees.

After on boarding process got over my work is to scan and save (kit 1, 2, 3) employees document

in separate folder in perspective date. Each kit contains several documents.

KIT 1 contains

• Candidate’s resume

• Photo

• Government ID proof

• 3 months of slips / 2 reference letters (if fresher)

• Interview evaluation sheet

• PAT score

KIT 2 contains

• 10th mark sheet

• 12th mark sheet

• UG mark sheet and Degree certificate

• Diploma or any other professional certificates ( if applicable)

• All organization's relieving letters

• Government proof like pan card, passport, driving license

• Signed printed copy of accepted offer letter

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• Confirmation of joining report

KIT 3 contains DECLARATION:

• Polaris vision form

• Non-disclosure assurance form(NDA form)

• Affirmation and compliance agreement form

• Undertaking form

• Export licensing compliance – letter of assurance

• Deed of assignment of IPR

• ALP document ( if required)

• Information security declaration form

• Data privacy consent form

• Reimbursement claim –as a part of recruitment

• Non –submission of documents.

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FINDINGS

The findings of the study were

Data accuracy with the help of accounting software.

Accounting software ultimately saves you time in different ways. By eliminating

manual calculations and record-keeping.

Up-to-date information – the accounting records are automatically updated and so

employees debt and credit will always be up-to-date. 

The on boarding process provides warm and sincere welcome to the new employees

to the organization.

The on boarding team was helpful in filling up the document.

SUGGESTION

In both Finance and HR department’s lots of paper works is involve it can be reduced.

The employees should arrange the invoice in date wise during they claim so that it

will be helpful at the time of validation.

In on boarding new employees are not bringing the soft copy of the documents that

they want to bring while joining? This can be avoided by mentioning the documents

in bolt letter which they have to bring during on boarding in appointment letter.

CONCLUSION

Accounting software systems provide numerous benefits in the areas of information

management, regulatory compliance, business process automation and real-time reporting.The

following financial system benefits are common in most accounting software applications like

control, security, Standardization, Cost Reduction & Profit Maximization, Improved Cash

Management. On boarding and Induction training is very essential for the company because it

helps an individual/ new recruit to grow within a company and motivates him/ her.

Thus I conclude saying that the study helped me to understand the actual on accounting and on

boarding process in PolarisFT.

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BIBLIOGRAPHY

www.google.com

www.wikipedia.com

www.ehow.com

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