Textbook 978-0-76386-501-6 What are the advantages of using computerized accounting software instead of non-computerized accounting methods. What...

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Textbook 978-0-76386-501-6 What are the advantages of usingcomputerized accounting software instead of non-computerizedaccounting methods. What are some specific advantages of usingQuickbooks?

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The introduction of computerized accounting systems provide major advantages such as speed and accuracy of operation and perhaps most importantly the ability to see the realtime state of the companys financial position In my experience I have never seen a business that has upgraded to a computerized accounting system return to paper based accounting systems A typical computerized accounting package will offer a number of different facilities These include Onscreen input and printout of sales invoices Automatic updating of customer accounts in the sales ledger Recording of suppliers invoices Automatic updating of suppliers accounts in the purchases ledger Recording of bank receipts Making payments to suppliers and for expenses Automatic updating of the general ledger Automatic adjustment of stock records Integration of a business database with the accounting program Automatic calculation of payroll and associated entries Computerized accounting programs can provide instant reports for management for example Aged debtors summary a summary of customer accounts showing overdue amounts Trial balance trading and profit and loss account and balance sheet Stock valuation Sales analysis Budget analysis and variance analysis GSTVAT returns Payroll analysis When using a computerized accounting system See Answer

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