Preview

Components of a Computerized Accounting System

Good Essays
Open Document
Open Document
816 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Components of a Computerized Accounting System
Components of A Computerized Accounting System
A computerized accounting system has great potential to increase productivity, streamline workflow, reduce data redundancy and error reconciliation, and help with financial management for large and small businesses. There are many different accounting options to choose from, including Microsoft Money, Microsoft Dynamics, Oracle, QuickBooks, Sage, and Xero.
Software vs. Web Based
Choose between downloadable or installable software that lives on your desktop computer and web-based software that you access remotely. Neither option is better than the other. They both have advantages. With a web-based offering, you receive maintenance and upgrades automatically, as the software provider performs them for you. You can also purchase only the accounting modules that you need, then upgrade your plan to incorporate new functions at the moment of need. Because you access your data via the web, you can view your financial data any time. However, you'll also pay more as you use more server space and functionalities, and this can add up fast. With software, you have to perform maintenance and troubleshooting, but you retain the ability to maintain sensitive data storage in-house.
Computerized Accounting System Components
A good computerized accounting system or CAS will have a clean, easy-to-use interface. From this interface, you should be able to enter data, export data into other formats, and perform data validation operations. On the back end, databases will drive your CAS, responding to queries about the information stored therein. Your consultant should be able to install the CAS. While you don't need a large IT staff to install your computerized accounting system and get started, it helps if you need to troubleshoot operations or need help performing a specific function. Your CAS should have elements including: • Accounts Payable: Allows you to manage invoices and bills that you must pay. • Accounts Receivable:
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Good Essays

    Kudler Fine Foods Case Study
    • 804 Words
    • 4 Pages

    Kudler Fine Foods Case Study

    A good accounting information system (AIS) will help create, maintain, and distribute the financial reports as well as perform tasks in payroll, accounts receivable, accounts payable, inventory, and budgeting (Bagranoff, Simkin, & Norman, 2010). Management will be able to set up controls in the system allowing staff to have access to what is necessary and appropriate for their job. They will be able to call up and modify this information electronically without searching or filling out new paperwork. Data entry will be mainstreamed, allowing for less key strokes, and integration of information. This will allow for better accuracy in accounting and accounts will be able to be managed more efficiently, including processing of bi-weekly payroll. Payroll will then be sent directly to processing and reports to the correct managers. Accounts receivable will be able to track when customers use the POS system and update the sales information. Accounts payable will track when a vendor payment is due, allowing for payment processing, and appropriate management and accounting reports. The inventory system will be more accurate saving Kudler time and…

    • 804 Words
    • 4 Pages
    Good Essays
    Read More
  • Powerful Essays

    Nt1310 Unit 1 Assignment
    • 6923 Words
    • 28 Pages

    Nt1310 Unit 1 Assignment

    Computerized accounting system uses the accounting software. After financial data is entered into the program, it will automatically organize information; the data will be calculated and expressed as accounting numbers or other financial reports. This method is suitable for both large companies and small companies. It will help the company save time when examining the transaction process and decision making easier.…

    • 6923 Words
    • 28 Pages
    Powerful Essays
    Read More
  • Good Essays

    Kudler Accounting System
    • 808 Words
    • 4 Pages

    Kudler Accounting System

    The recommendation for the accounting system solution is Dynamics GP by Microsoft Corporation as it is backed by years of innovation concerning business management. The solution lets the company’s personnel run the business more efficiently while improving cash flow (Microsoft…

    • 808 Words
    • 4 Pages
    Good Essays
    Read More
  • Good Essays

    Kudler Accounting System Paper
    • 895 Words
    • 4 Pages

    Kudler Accounting System Paper

    These days it is especially important to pay attention to details when it comes to deciding if your accounting system is providing the kind of information that may be required of you to produce. I think legal requirements and government regulations are becoming more demanding as to what they expect to see if someone such as the I.R.S. were to show up and ask for an audit. I would like to talk a little about a few of the key features, core technology, benefits, and costs of installing and maintaining an efficient accounting system and some of the benefits it would be to your company, especially in areas where details are crucial.…

    • 895 Words
    • 4 Pages
    Good Essays
    Read More
  • Good Essays

    Riordan Manufacturing Hardware and Software Selection
    • 932 Words
    • 4 Pages

    Riordan Manufacturing Hardware and Software Selection

    There is a necessity to have either hardware or software to integrate the accounting information into an automated system for viewing by the proper individuals. Below, Learning Team A will show who needs to access this information, what controls will be implemented, the type of reports to be generated from these hardware or software and importantly what type of information will be available through corporate Intranet and the Internet. Having the proper hardware and software integrating Riordan's data into automated systems will make life easier for those involved with all the accounting cycles, especially accounts receivable.…

    • 932 Words
    • 4 Pages
    Good Essays
    Read More
  • Good Essays

    Acc 250
    • 267 Words
    • 2 Pages

    Acc 250

    Accounting software is very important when it comes to a company running smoothly. The Enterprise Resource planning software is for the largest organizations with sales exceeding $500 million and more than 500 employees. There are an estimated 17,000 companies that fit this profile. A software system needs to meet the needs of the company and may need certain systems to benefit them the best. Companies may need to keep up with employees work hours, sales commission, and/or payroll. The ERP is for larger companies so they may need systems to keep up with workflow, imagining, business intelligence, or manufacturing. (Johnston, 2003) There are many different systems that are great for the ERP but it has to be perfect for the company when it comes to accounting. Multiview Enterprise .NET n10, NetSuite Financials, Sage 100 Standard and Advanced ERP, SAP Accounting, and Acumatica are all different systems that larger companies may use because they are designed for the larger companies. The Acumatica is a good software from what I have gathered because it has many different systems that it offers. This systems is web-based and offers a general ledger, cash management, accounts payable, an employee portal, currency management, tax management, and deferred revenue management. (Acumatica, 2005)…

    • 267 Words
    • 2 Pages
    Good Essays
    Read More
  • Best Essays

    Perceived Threats of Computerized Accounting Information System and Provides Suggestions on How to Prevent the Occurrence of these Potential Dangers
    • 1788 Words
    • 6 Pages

    Perceived Threats of Computerized Accounting Information System and Provides Suggestions on How to Prevent the Occurrence of these Potential Dangers

    With rapid development of the information technology, computerized accounting information system plays an increasingly crucial role in the operation of organization regardless large, medium or small enterprises. This can be contributed to the merits of the marriage of accounting and the computer science technology, which dramatically improve the accuracy and speed of the process of information system. However, along with the advantages of the computerized accounting information system, there emerge several deadly deficiencies which, if not appropriately deal with, can be greatly detrimental to the interests of the organization and, even worse, may lead to collapse of the company. This essay mainly focuses on several important aspects of the deficiency of the computerized accounting information system and then provides feasible solutions to prevent the negative influence derived from these threats.…

    • 1788 Words
    • 6 Pages
    Best Essays
    Read More
  • Good Essays

    ACC340 Week 1 The Effects of Technology on the Accounting Profession
    • 850 Words
    • 3 Pages

    ACC340 Week 1 The Effects of Technology on the Accounting Profession

    Corporate accountants now have a great advantage with the development and advancement in technology. Accountants can now retain more information and can retrieve various information within its organization. There are numerous internal software that help individuals access company financial records, balance sheets and various personal information, also known as the intranet. The new technology helps companies’ project revenue and company performance.…

    • 850 Words
    • 3 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Sage vs Excel
    • 341 Words
    • 2 Pages

    Sage vs Excel

    Accounting can be very time consuming and complex therefore accounting software has been created in order to make this more straightforward and less time consuming for those using it. Features of accounting software range from program to program but all provide basic features which usually include accounts payable, accounts receivable, inventory, fixed assets and analysis. Software can be simply bought off-the-shelf, purpose built, or purchased as an add-on to current software.…

    • 341 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    D1-Analyze the Circumstances Under Which a Business Would Adopt a Computerized Accounting System Instead of a Manual One.
    • 540 Words
    • 3 Pages

    D1-Analyze the Circumstances Under Which a Business Would Adopt a Computerized Accounting System Instead of a Manual One.

    Computerized accounting offers several more benefits than manual accounting process more information faster, formulas verify calculated totals and errors are less common.…

    • 540 Words
    • 3 Pages
    Satisfactory Essays
    Read More
  • Powerful Essays

    Accounting Information System 7
    • 5542 Words
    • 23 Pages

    Accounting Information System 7

    This report aims at finding suitable accounting software to replace current accounting system that no longer meet the needs of the company. A brief introduction to the company Q.L. Medicine is firstly delivered, followed by a comprehensive needs analysis, which focuses on the requirement of a new accounting software. Three solutions—Microsoft Dynamics AX, Sage PFW and TRAVERSE—will then be provided. Each will be evaluated with the same criteria and then conclude with the best one—Microsoft Dynamics. Finally, a recommendation for the next steps towards the company will be suggested.…

    • 5542 Words
    • 23 Pages
    Powerful Essays
    Read More
  • Good Essays

    The Effects of Technology on the Accounting Profession Paper
    • 555 Words
    • 3 Pages

    The Effects of Technology on the Accounting Profession Paper

    New technoligies and systems from various vendors such as Microsoft, Oracle for accounting have greatly reduced the time taken to prepare the financial statements and benefitted auditors and accountants to complete and submit their statements in timely manner. MIS reporting with respect to accounting has been made possible by Information systems only to take timely decisions. New payroll management systems from companies like Paychex have greatly improved payroll accounting and is a boon for accountants handling large payrolls. Similarly, sharing tools allow accountants to collaborate and merge their work with accountants of the same company located at different location.…

    • 555 Words
    • 3 Pages
    Good Essays
    Read More
  • Powerful Essays

    Sample Proposal
    • 1145 Words
    • 5 Pages

    Sample Proposal

    It is critical that any consulting firm, such as an accounting company, be able to manage their accounts receivable, as well as their cash receipts and disbursements. It is important to track these items for the purposes of budgeting and planning, so that management is aware of how much cash has been received and how much cash will be received in the future. It is also important to track these items for the purposes of filing tax returns, as well as for documentation for mandatory financial audits.…

    • 1145 Words
    • 5 Pages
    Powerful Essays
    Read More
  • Better Essays

    It Is Often Claimed That the Process of Computerising Accounting Information Systems (Ais) and Telecommunicating Accounting Information over the Web Enhances the Accounting Functions in Business Organisations Operating
    • 1334 Words
    • 6 Pages

    It Is Often Claimed That the Process of Computerising Accounting Information Systems (Ais) and Telecommunicating Accounting Information over the Web Enhances the Accounting Functions in Business Organisations Operating

    The use of computers makes it possible to effectively solve the problem of analytical accounting. For instance if you are using paper forms you need to increase the number of records of employees, however in the presence of computer technology it is possible to conduct analytical accounting to any level of detail and a wide range of analytical facilities. Most of the problems are solved in the application of computers automatically. While using paper forms, accounting data storage operations in the accounting records, the calculation results and the transfer of a data requires human labor and is always associated with an errors, computer programs are performing much better and without human intervention.…

    • 1334 Words
    • 6 Pages
    Better Essays
    Read More
  • Powerful Essays

    Advantages And Disadvantages Of Informa
    • 1476 Words
    • 5 Pages

    Advantages And Disadvantages Of Informa

    Improves financial management: Accounting software like Quick Books ,Bookkeeper , Sage 50 , and Account Edge can be used in performing various accounting tasks in a business. Business owners can easily balance their books with less experience in accounting because these software’s are well equipped with every tool needed in accounting and they also have a help section which can…

    • 1476 Words
    • 5 Pages
    Powerful Essays
    Read More

Related Topics