Computer

In
Accounting
 Content
01 Concept of Computerized Accounting system (CAS)

02 Features of computerized Accounting System.

03 Importance of Computerized Accounting System
04 Components of Computerized Accounting System.
Comparison between manual accounting process and
05 Computerized accounting process

06 Sourcing of Accounting Software

Concept of Computerized Accounting System (CAS).

 A computerized accounting system helps to implement accounting process

 Computerized accounting systems are software programs which help to store data / information in the accounting system.

 It is connected via computer, network server or remote accessed device with Internet.

 The company or firm prepares various reports and statements with the help of computerized accounting software.

 The most important thing is company or firm prepares its reports as per Generally Accepted Accounting Principles
(GAAP) under this system.
Features of Computerized Accounting System

Integrated Date & Information 1 5 Immediate availability A/c

Accuracy & Speed 2 6 Security

Quick Decision Making

3 7 Transparency

Modern and Integrated

4 8 Grouping of Accounts
Importance of Computerized Accounting System

Systematic & up to date records

Accuracy

Multi-user-Faciliti

Automation
Huge Storage Capacity

Compact

Speed & Transferability

Reduction in Cost
components form the Computerized Accounting System

01
Hardware
02
Software
03
Company Personnel
 Ledger Accounts

Credit Debit

Liability Income Expenditure Assets

Profit & loss Account

Balance sheet
 BASIS FOR
MANUAL ACCOUNTING COMPUTERIZED ACCOUNTING
COMPARISON
Meaning Manual Accounting is a system of accounting Computerized Accounting is an accounting system
that uses physical registers and account books, that uses an accounting software, for recording
for keeping financial records. financial transactions electronically.

Recording Recording is possible through book of original Data content is recorded in customized database.
entry.
Calculation All the calculation is performed manually. Only data input is required, the calculations are
performed by computer system.

Speed Slow Comparatively faster.

Adjusting entries It is made for rectification of errors. It cannot be made for rectification of errors.

Backup Not possible Entries of transactions can be saved and backed up

Trial Balance Prepared when necessary. Instant trial balance is provided on daily basis.

Financial Statement It is prepared at the end of the period, or It is provided at the click of button.
quarter.
Sourcing of accounting Software

 Accounting software is an essential part of the computerized accounting system.

 The accounting expertise of people responsible in business for accounting work, People, not computers, are
responsible for accounting.
 The need for accounting software arises in two situations
Classification of Accounting software package

Free & Open Source

Customized

Tailored

Ready to use
Legal / Licensed Vs. Pirated Accounting Software

• Full functional software.

• Tally
• ERP9,
• Miracle,
• Busy, Legal software
• Focus,
• Wings
Pirated software

• Cracked software, nearly full functional, but

illegal to use & risky con-sidering data safety.
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