Benefits of Computerized Accounting System in Workplace Some of the advantages of using a computerized accounting system are: The arithmetic of adding up debits and credits columns is done automatically and with total accuracy by the computer.

1. 1/18/2017
Benefits of Computerized Accounting System in Workplace
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Some of the advantages of using a computerized accounting system are:
The arithmetic of adding up debits and credits columns is done automatically and with total accuracy by the
computer.
Audit trails or details are automatically maintained for you.
Produce financial statements simply by selecting the appropriate menu item.
A computerized system lets you retrieve the latest accounting data quickly, such as today’s inventory, the
status of a client’s payment, or sales figures to date.
Data can be kept confidential by taking advantage of the security password systems that most accounting
programs provide. Computerized accounting programs usually consist of several modules.
The principal modules commonly used are:
General Ledger
Inventory
Order Entry
Accounts Receivable
Accounts Payable
Bank Manager
Payroll
In a good accounting system, the modules are fully integrated. When the system is integrated, the modules share
common data. For example, a client sales transaction can be entered in as an invoice, which automatically posts to
the General Ledger module without re-entering any data.
This is one of the greatest advantages of an Accounting computerized system you need to enter the information only
once.
As a result of this:
Data entry takes less time.
There is less chance that errors will occur.
You do not have to re-enter data for posting.
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