Advantages of Computerised Accounting System Video Lecture | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year

you
recent developments in IT have had a
huge impact on how organizations work
through the likes of new communication
channels for example websites and social
media office automation and homework to
name but a few examples large remains of
data can now be brought together very
quickly often in real time this should
mean that delays between events and
processing results is reduced or
eliminated the advantages of
computerization with regards to
accounting speed faster provision of
information with manual accounting every
step of the accounting process needs to
be manually processed for example paying
an electricity bill with the manual
accounting system the accountants
assistant raises the cheques updates the
ledger accounts and both credit and
debit entries are required in the
accounts with the computerized
accounting system the above steps are
reduced to one entry with the respective
Ledger's being automatically updated not
only that the financial statements are
all automatically updated at the same
time with the check being automatically
processed also the faster provision of
information helps with quick management
decision-making
cost cheaper information once the system
is in place the initial cost of
implementing a computerized accounting
package would be greater than for manual
accounting for large organizations this
cost would be recouped in reduced
employee manual accounting errors and in
the benefit of having information
instantly available accuracy more
accurate information with the reduction
in the amount of times an entry needs to
be made comes the reduction in the
likelihood of errors being made also
with computerized accounting systems all
records can be backed up and saved in
case of fire or other mishap this can be
done for manual accounting systems but
requires copies of all records to be
taken and kept which is a long and
inefficient process because computerized
accounting systems removes the need for
hand writing accounts are more legible
more accurate accounting information and
easier inputting processes can lead to
more employee motivation volume ease of
access to large amounts of information
that would not have been easily
available using a manual accounting
system computerized accounting packages
can be adapted to different scales and
sizes of accounting requirements
depending on an organization size
computerized systems are able to process
large volumes of information without
compromising on accuracy or speed
complexity the store of accounting data
electronically can greatly reduce the
need to store paper documents and can
increase the communication and sharing
of information within an organization
presentation computerized accounting
software processes data and creates
reports much faster than the manual
accounting process instant access to
accounting information because each
entry automatically updates the whole of
the accounting process and reports can
be created at the push of a button
we've computerized accounting systems
organizations have greater visibility
into day-to-day operations and access to
vital accurate up-to-date and reliable
information for more a twosie business
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