Archive about 'Computerised Accounting'

Describe the advantages/benefits from having a good Computerized Sales Ledger Module. Name the good features that a Computerized Accounting Sales Ledger Module should have.

COMPUTERIZED ACCOUNTING SALES LEDGER MODULE BENEFITS OR ADVANTAGES Enable management to: produce accurate management information recognize as early as possible debtors who are slowing down payments prevent the chasing of debts already settled identify customers who have reached their credit limit ensure customers comply with any agreed payment schedule GOOD FEATURES OF A COMPUTERIZED SALES [...]

What Are the Usual Features, Advantages or Benefits And Examples Of Management Reporting Obtained From A Computerized Accounting System.

Question: I just joined a small company where it is in the midst of acquiring a computerized accounting system. May I know:- (a)  What are the usual features that are available in such system (b)  Advantages of a computerized accounting system (c ) Give examples of some management reports which are automatically generated. Answer: (a)     [...]

Listing Of Topics Under Computerized Accounting System

Append below a listing of topics covered under the heading Computerized Accounting System:- Content Page 1.0 What are the advantages and disadvantages of computerized accounting systems 2.0 Comparison of the steps of an accounting cycle under the Manual system and under the Computerized system. 3.0 Internal Control in a Manual and Computerized Accounting Environment 4.0 [...]

Comparison Of The Steps Of An Accounting Cycle Under The Manual System and Under The Computerized System

  Steps In Accounting Cycle Manual System Computerized System 1 Analyze source documents Manual Manual   2 Record transactions in journal   Manual Manual data entry includes manual electronic coding 3 Post to Ledger accounts Manual Automatic 4 Prepare Unadjusted Trial Balance Manual Automatic 5 Journalize adjusting entries Manual Manual 6 Post adjusting entries Manual [...]

Question On Computerized Accounts

Question On Computerized Accounting: You started work in ABC Company Ltd. The Management is asking you to implement a computerized accounting system. The following questions were posed to you:-   (a) “What benefits will a computerised accounting system bring your company?” State up to five possible benefits. (b) “There are so many different packages on the [...]

Internal Control In A Manual And Computerized Accounting Environment ( Part 3)

The following are some of the controls in a Manual and Computerized Accounting System: Controls In Manual Accounting System ·      Independent reconciliation of external data like using bank statement to reconcile to the company’s bank account or using external supplier statement of account to reconcile with our individual creditor account; ·      Using Control or Total Account [...]

What Are The Advantages And Disadvantages of Computerised Accounting Systems (Part 2)

The advantages and disadvantages are as follows: Advantages · Faster and efficient in processing of information; · Automatic generation of accounting documents like invoices, cheques and statement of account; ·With the larger reductions in the cost of hardware and software and availability of user-friendly accounting software package, it is relatively cheaper like maintaining a manual accounting [...]

Characteristic And The Difference Between Batch And Online Processing (Part 1)

Nowadays, the modern accountant needs to know how computerized accounting systems work so that these systems can meet the needs of the organization and the users Characteristics of Computerized Accounting System ·      All accounting systems follow the same sequence of Input to Processing to Output and ·      Transaction data need to be entered only once [...]

Factors To Consider When Buying A Small Business Accounting Software

When choosing an appropriate accounting software, it is critical that we should plan ahead as a smart business decision will later save us plenty of time and money in the future. The following includes some of the factors to consider when buying a small business accounting software 1. Scalability It is always very important to [...]