Page 288 - DMGT104_FINANCIAL_ACCOUNTING

Financial Accounting

Notes 13.3 Salient Features of Computerised Accounting

Following are the silent features of computerised accounting:
 Fast, Powerful, Simple and Integrated: Computerised accounting is designed to automate
and integrate all the business operations, such as sales, finance, purchase, inventory and
manufacturing. With Computerised accounting, accurate, up-to-date business information
is literally at the fingertips. The Computerised accounting combine with enhanced MIS,
Multi-lingual and Data organization capabilities to help the company simplify all the
business processes easily and cost-effectively.
 Complete Visibility: Computerised accountings giving the company sufficient time to
plan, increase the customer base, and enhance customer satisfaction. With Computerised
accounting the company will have greater visibility into the day-to-day business operations
and access to vital information.

 Enhanced User Experience: Computerised accounting allows the company to enter data in
a variety of ways which makes work a pleasure. Adapting to the specific business needs is
possible.

 Accuracy, Speed: Computerised accounting has User-definable templates which provides
fast, accurate data entry of the transactions; thereafter all documents and reports can be
generated automatically, at the press of a button.
 Scalability: Computerised accounting adapts to the current and future needs of the business,
irrespective of its size or style.

 Power: Computerised accounting has the ability to handle huge volumes of transactions
without compromising on speed or efficiency.
 For Improved Business Performance: Computerised accounting is a highly integrated
application that transforms the business processes with its performance enhancing features
which encompass accounting, inventory, reporting and statutory processes. This helps the
company access information faster, and takes quicker decisions. Computerised accounting
also guarantees real-time optimization of operations and enhanced communication.

 Quick Decision Making: Generates real-time, comprehensive MIS reports and ensures
access to complete and critical information, instantly.
 Complete Reliability: Computerised accounting makes sure that the critical financial
information is accurate, controlled and safe from data corruption.

Self Assessment

Fill in the blanks:
5. …………………… allows the company to enter data in a variety of ways which makes
work a pleasure.
6. Computerised accounting makes sure that the critical …………………… is accurate,
controlled and safe from data corruption.

13.4 Sourcing of Accounting Software

Accounting software is an integral part of the computerised accounting system. An important
factor to be considered before acquiring accounting software is the accounting expertise of
people responsible in organisation for accounting work. People, not computers, are responsible
for accounting.

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