Advantages of E-System
Advantage and Dis-Advantages 1. E-Billing System
Advantage
* available instantly * accessible from any computer in the world * better for the environment * saves companies a lot of money dis-advantage * e-billing will eventually expire and thus become inaccessible * the lack of not having physical records * Security 2. Payroll system
Advantage
* Time Importation * Automatic Calculations * Paycheck Processing * Report Generation
Disadvantage
* Outsourced/External * On-Site Computerized
3. Inventory System
Advantage * High Cost of Implementation * Recorded Inventory May Not Reflect Actual Inventory * Greater Complexity
Dis-Advantage * More Time-Consuming
4. Accounting System
Advantage * Faster and efficient in processing of information; * Automatic generation of accounting documents like invoices, cheques and statement of account; * With the larger reductions in the cost of hardware and software and availability of user-friendly accounting software package, it is relatively cheaper like maintaining a manual accounting system; * More timely information can be produced; * No more manual processing of the data- all automatically been posted to the various ledgers/accounts and * Many types of useful reports can be generated for management to make decisions
Dis-Advantage * Power failure, computer viruses and hackers are the inherent problems of using computerized systems; * Once data been input into the system, automatically the output are obtained hence the data being input needs to be validated for accuracy and completeness, we should not forget concept of GIGO (Garbage In(Input) Garbage out ( Output) and * Accounting system not properly set up to meet the requirement of the business due to badly programmed or inappropriate software or hardware or personnel problems can caused more havoc and * Danger of computer fraud if
Advantage
* available instantly * accessible from any computer in the world * better for the environment * saves companies a lot of money dis-advantage * e-billing will eventually expire and thus become inaccessible * the lack of not having physical records * Security 2. Payroll system
Advantage
* Time Importation * Automatic Calculations * Paycheck Processing * Report Generation
Disadvantage
* Outsourced/External * On-Site Computerized
3. Inventory System
Advantage * High Cost of Implementation * Recorded Inventory May Not Reflect Actual Inventory * Greater Complexity
Dis-Advantage * More Time-Consuming
4. Accounting System
Advantage * Faster and efficient in processing of information; * Automatic generation of accounting documents like invoices, cheques and statement of account; * With the larger reductions in the cost of hardware and software and availability of user-friendly accounting software package, it is relatively cheaper like maintaining a manual accounting system; * More timely information can be produced; * No more manual processing of the data- all automatically been posted to the various ledgers/accounts and * Many types of useful reports can be generated for management to make decisions
Dis-Advantage * Power failure, computer viruses and hackers are the inherent problems of using computerized systems; * Once data been input into the system, automatically the output are obtained hence the data being input needs to be validated for accuracy and completeness, we should not forget concept of GIGO (Garbage In(Input) Garbage out ( Output) and * Accounting system not properly set up to meet the requirement of the business due to badly programmed or inappropriate software or hardware or personnel problems can caused more havoc and * Danger of computer fraud if