Components of a Computerized Accounting System free essay sample

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 dont 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: Allows you to manage payments, billing, and income. †¢ Payroll: Handles employee payroll within the accounting system. We will write a custom essay sample on Components of a Computerized Accounting System or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page †¢ Benefits Management: Allows for employee budget management, accrued vacation time reporting, and other budget reporting. †¢ Budgeting: Lets you create and manage a budget. Assets: Lets you manage fixed and fluid assets, calculate depreciation, and perform other asset management. †¢ Reporting: Integrates your data with existing reporting standards, so that you can comply with regulations that affect your business. †¢ Project Reporting: Lets you manage the assets and workflow for multiple projects at one time. †¢ Supply Chain Management: Allows you to track inventory, suppliers, goods pricing, and other supply side services. Switching to a CAS Switching to a CAS can feel overwhelming. To get started on the right foot, review your finances before the migration and reconcile any errors. You may wish to hire an accountant or financial manager to review your documents for you. Once you have everything in order, install your chosen CAS or purchase a web-based system. Upload your existing data, or enter data by hand if you need to. As you add the data, reconcile it with the existing accounting to make sure that you dont introduce mistakes into the work. Transition to the new system, but continue to use the old system for a while until you feel comfortable with the new system. Related Accounting Articles Accounting for Accounting Pros Effective Accounting Information Systems How Computerized Accounting Systems Have Changed the World of Numbers Considerations For Implementing An Accounting Information System Accounting Solutions for Helping Your Small Business Count the Beans Advantages of SaaS Accounting Different Classes of Microsoft Accounting Software Different Versions of QuickBooks History of QuickBooks Development Key Components of QuickBooks Prerequisites Using Quickbooks Disadvantages of QuickBooks vs Microsoft Dynamics GP Differences Between Microsoft Dynamics GP and QuickBooks Differences Between Microsoft Dynamics GP and Sage Software Why Companies Use QuickBooks for Their Business Accounting Problems of Computer Accounting and Its Solution gt;gt;  May 1, 2008 [pic] There following main problems and disadvantages of computer accounting . 1. Dependence on computer If you use computer for accounting , then you will depend on computer , It will reduce you IQ power . So After all you should some calculation on hand so that you mental level will also update and active . 2. Failure of system This is also disadvantage of computer accounting ,So always make backup of your computer accounting records . I am also suggesting you to clean the dust of you computer . This dust is very dangerous for slowing and stopping of computer system. 3. Expert on computer accounting is not the expert in Accounting Science This is not true that expert in computer accounting is expert in accounting . Because general graduate in any subject can work computer accounting without any help but for making expert There will take 10 to12 years . So always prefer expert accountant 4. Problem of software In computer accounting you can face of choosing of correct and effect software For this I always prefer tally 7. 2 or tally 9 which is best for me and also for you .