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some benefits are :
1. the accounting transactions are recorded at a faster speed than in manual accounting systems thus more of information can be recorded in same time than it owuld have been done manually.
2.since modern softwares can easily detect arithmetic errors , it is more accurate to record accounting information through computers.
3.security: the data entered in the computers can be secured using complex servers and passwords to prevent unauthorised excess to business information
4.capacity : where manual accounting systems can record transactions to a limit (and if not then it is not feasible to keep numerous books therefore computers can serve as large storage of information
5.presentation: new softwares are coming up and the financial statement of the business can be made in a more presentable form ,as well as quickly produced ...
What else can I help you with?
What are outsourcing consultants?
Outsourcing the accounting or bookkeeping services helps in growng the business faster. They can provide the great results in improving the business. Visit our site for the best accounting and bookkeeping services in California.
What is the importance of ict in store and material management?
what is the application of ICT in stores management
What is informal bookkeeping?
I don't know that's why I'm "asking" you
What is cost labor?
The cost of wages paid to workers during an accounting period on daily, weekly, monthly, or jobs basis,plus payroll and related taxes and benefits.
How does cost accounting connect with financial accounting and management accounting?
Management accounting gathered data or information from cost accounting and financial accounting. After that, it analyzes and interprets the data to prepare reports and provide necessary information to the management.
Bookkeeping differs from accounting in that bookkeeping primarily involves which part of the accounting process?
Recording.
What are some of the areas of specialty in accounting?
The two most normal specific fields of bookkeeping practically speaking are Managerial bookkeeping and monetary bookkeeping. Monetary bookkeeping is worried about recording and revealing financial information and exercises of a business. Administrative bookkeeping is worried about giving administration the information important to effectively maintain the business.
Where will you find answers to bookkeeping?
We have Accounting and under that is Bookkeeping. Look in Categories on left. Type in Bookkeeping.
What is Business Bookkeeping?
it is easy way to understand the difference among Bookkeeping , accounting and accountancy. Recording ------------- Bookkeeping classifying _________ Accounting summarizing Analysing Interpreting ________ Accountancy communicating
Manual system of accounting?
Bookkeeping is a manual system of accounting.
What are the benefits of ict in accounting?
it can reveal any nip slips on any of the accountants. also helps with the blood sausage.
What are the basic books of accounting?
BOOKKEEPING
Define and distinguish between entries on the books and entries on the workpapers and explain why such an entries on the books and on the workpapers are required in the consolidation process?
what is distinguish between bookkeeping and accounting? what is distinguish between bookkeeping and accounting? what is distinguish between bookkeeping and accounting?
How long did it take for accounting to separate from bookkeeping in the US?
Two hundred years, however, would pass before accounting would separate from bookkeeping
What are the examples of an accounting software?
QuickBooks by Intuit, Sage venture bookkeeping programming and custom bookkeeping programming.
What has the author Francis Russell Alger written?
Francis Russell Alger has written: 'Bliss-Alger bookkeeping and accounting theory and practice' -- subject(s): Accounting, Bookkeeping
Distinguish between bookkeeping and accounting?
Bookkeeping is an indispensable subset of accounting, and refers to the process of accumulating, organizing, storing, and accessing the financial information base of an entity. Accounting is much broader, and goes into the realm of designing the bookkeeping system, establishing controls to make sure the system is working well.
