Computers can store, process, and retrieve information quickly and accurately. Computerized accounting systems run on a company's computer network or server and help streamline the accounting process. Such systems provide benefits like speed, accuracy, scalability, instant reporting, and better control over finances. While they reduce manual work, computerized accounting does have costs like user training and system dependency. The objectives of computerized accounting are labor saving, time saving, minimizing fraud, and improving accuracy. Common types of computerized accounting systems include spreadsheets, commercially available software, and enterprise resource planning software.