Calculations will be accurate (unless someone has programmed them otherwise).Once a transaction is entered into the system it will be processed.There is no delay waiting for the purchase ledger clerk to 'do the postings'. So once an invoice is entered into the system, the TB, the ledger, the financial statements are all updated. The outputs from the system – the listings, trial balances, even the financial statements themselves – usually do not form part of a strict chronological sequence. The need to transfer information from one piece of paper to another is greatly reduced.There are a number of things to understand about the impact of computerised accounting systems: However, the basic principles of those systems are still the same and it is worth understanding how the flow of information in a system works. These are rare nowadays due to the use of readily available (and cheap) accounting software. It should be noted that the above illustration represents a typical manual accounting system.
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