When the advent of fast computers and easy to use, accurate and reliable software started. An accounting system is a collection of processes, procedures and controls designed to collect, record, classify and summarize financial data for interpretation and management decision making. Computerized accounting involves making use of computers and accounting software to record, store and analyze financial data. A computerized accounting system brings with it many advantages that are unavailable to analog accounting systems. this article does not tackle the use of spreadsheets that are often used instead of proper accounting software to process financial data. It is common knowledge that spreadsheets do not provide a scalable solution for accounting purposes and therefore are a dangerous solution to invest in. · automation.

Since all the calculations are handled by the software, computerized accounting eliminates many of the mundane and time consuming processes associated with manual accounting. For example, once issued, invoices are processed automatically making accounting less time consuming. Once the data is entered into the system, all the calculations, including additions and subtractions, are done automatically by software. Using accounting software it becomes much easier for different individuals to access accounting data outside of the office, securely. Because the calculations are so accurate, the financial statements prepared by computers are highly reliable. When your company grows, the amount of accounting necessary not only increases but becomes more complex.

With computerized accounting, everything is kept straightforward because sifting through data using software is easier than sifting through a bunch of papers. Using accounting software, the entire process of preparing accounts becomes faster. Furthermore, statements and reports can be generated instantly at the click of a button. Managers do not have to wait for hours, even days, to lay their hands on an important report. The latest data can be saved and stored in offsite locations so it is safe from natural and man made disasters like earthquakes, fires, floods, arson and terrorist attacks. · cost effective: since using computerized accounting is more efficient than paper based accounting, than naturally, work will be done faster and time will be saved.

When one considers that clever accounting, one of the latest online accounting solutions, starts at a low monthly subscription check out pricing here , then computerized accounting really becomes a no brainer. Viewing your accounts using a computer allows you to take advantage of the option to view your data in different formats. Computerized accounting represents a technological advancement in the field of business accounting.

Buy Real Money Paper

do you use computerized accounting in your business? if yes, how important are the above advantages for the continued survival of your business? click here to start a free 30 day trial of clever accounting. Disclaimer: free essays on accounting posted on this site were donated by anonymous users and are provided for informational use only. The free accounting research paper the impact of computers in accounting essay presented on this page should not be viewed as a sample of our on line writing service.

If you need fresh and competent research / writing on accounting, use the professional writing service offered by our company. In our society today, computer technology plays an important role in many form of business, especially in the field of accounting. As technology advances, not only does the use of computers penetrates individual's everyday life, it also helps to mange and improve many business operations from service, manufacturing to retail. Ken, an accounting graduate, works as an accounting clerk at advance manage, a service operation located in markham, ontario.

Advance management mainly provides service for property owners who are seeking proper management for their housing estate such as small plazas and condominiums. Since ken is aware of the important of the computer skills in the job market, he devotes many time self studying his pc at home. With his expertise in bookkeeping and his adequate knowledge of computers, he finds that computerized accounting is easy to work with and is very timesaving. With computer technology changing at such fast pace, many businesses try to keep up by upgrading computer system constantly in order to stay competitive. In the example of advance management the computer equipment they have is quite advances. For example, they own 3 computers of which one is solely for accounting purposes. The system includes a cpu pentium ii with 300 mhz microprocessor, a 64 mb sd ram on board, a 56 k modem, a 32+cd rom, and also a 4.3 gb hard disk.

This high quality equipment has bought recently and they have already contributed a lot in improving the business' operation by making better works done more quickly. Advance management also has its own great software to match with its advances computer system. The software is specifically designs for the use of property managing and is called afex.

This accounting software for property management has been in uses for almost a year and is a very helpful in working with the company's accounting routine. All account receivables, account payables, payrolls and financial statements are done conveniently on the computer. Account number, name, addresses, rental payments, and lease term into the database, an account receivable ledges is formed. As each center's pay his/her rent monthly, the amount is automatically debited into the individual's rent receivable account. The spreadsheet form of software shows updated amount outstanding, amount and date paid, and time remaining on lease term of each renter accurately. For the account payable, information on the vendor's must be input into the system for the creation of the account payable ledges.

Custom Category Page Wordpress Thesis

Upon receipt of invoices or statements, ken, the accounting clerk, credits the amount into individual vendor's account. When making payments, cheques are printed up and the system computes the correct balance of cash and account payable accounts. Just by having all employees' info like name, working hours, wages etc enter into the database.