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  • Features of Computerised Accounting System

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    subhash dalvi
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    A computerized accounting system uses computers to process financial transactions and events according to accounting principles to maintain records and generate reports. It offers features like online data storage, report generation, and coding of accounts. The key advantages are speed, accuracy, reliability, up-to-date information, automated document production, and better resource utilization. However, high costs, disruptions, errors and security issues pose limitations. Selecting accounting software requires considering flexibility, costs, organizational size, training needs, reporting utilities, data security, and vendor reputation.

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    FEATURES OF COMPUTERISED ACCOUNTING SYSTEM

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    A computerized accounting system uses computers to process financial transactions and events according to accounting principles to maintain records and generate reports. It offers features like online data storage, report generation, and coding of accounts. The key advantages are speed, accuracy, reliability, up-to-date information, automated document production, and better resource utilization. However, high costs, disruptions, errors and security issues pose limitations. Selecting accounting software requires considering flexibility, costs, organizational size, training needs, reporting utilities, data security, and vendor reputation.

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    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
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    10 views5 pages

    Features of Computerised Accounting System

    Uploaded by

    subhash dalvi
    A computerized accounting system uses computers to process financial transactions and events according to accounting principles to maintain records and generate reports. It offers features like online data storage, report generation, and coding of accounts. The key advantages are speed, accuracy, reliability, up-to-date information, automated document production, and better resource utilization. However, high costs, disruptions, errors and security issues pose limitations. Selecting accounting software requires considering flexibility, costs, organizational size, training needs, reporting utilities, data security, and vendor reputation.

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    of 5

    FEATURES OF COMPUTERISED

    ACCOUNTING SYSTEM
    • Accounting information system that uses
    computers
    • It process the financial transactions &
    events to produce reports
    • It works under a set of accounting
    principles
    • It has user defined framework for
    maintenance of records & generation of
    report
    What it offers
    • Online input & storage of accounting data
    • Printout of vouchers & sales invoices
    • Coding system for every account and
    transaction
    • Grouping of accounts
    • Management of Reports
    ADVANTAGES
    • SPEED
    • ACCURACY
    • RELIABILITY
    • UP-TO-DATE INFORMATION
    • REAL TIME USER INTERFACE
    • AUTOMATED DOCUMENT PRODUCTION
    • CAN HANDLE ADDITIONAL WORK WITHOUT
    EXTRA COST
    • LEGIBLE DATA
    • ENSURES BETTER USE OF RESOURCES &
    TIME
    • EASY STORAGE & RETRIEVAL
    LIMITATIONS
    • HIGH COST OF INFRASTRUCURE &
    TRAINING
    • DISRUPTION
    • SYSTEM FAILURE
    • UNEXPECTED ERRORS
    • SECURITY LAPSE
    • ILL EFFECTS ON HEALTH
    CONSIDERATION IN SELECTING
    AN ACCOUNTING SOFTWARE
    • FLEXIBILITY
    • COST OF INSTALLATION & MAINTENANCE
    • SIZE OF THE ORGANISATION
    • TRAINING NEEDS & ADAPTATION LEVELS
    • UTILITIES/MIS REPORTS
    • SECRECY OF DATA
    • VENDOR’S REPUTATION & CAPABILITY

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