Question

what is computerised accounting system give advantages and disadvantages

Answer 1

HEY MATE ☢☢☢Accounting is a very important function for every small and large business. The accounting programs fulfill functions such as paying wages, reports, invoicing, managing payments, profit & loss accounts and balance sheets. Entrepreneurs are moving their organizations onto computerized accounting software and most are moving to web-based accounting software. Following are the advantages and disadvantages of computerized accounting software.
Advantages of Computerized Accounting Software

Speed

Using computerized accounting software, the whole procedure of planning accounts becomes faster. Supervisors don’t need to wait for a long time or days for the important report. Statements and reports can be created on a couple of clicks.

Access Information

Using accounting system turns out to be simple for other people who access accounting information outside the workplace, safely. This is especially valid if web-based accounting software is being used.

Visual Format

Checking your records using a PC, allow you to exploit the advantage to see your information in various formats. You can see information in tables and use various types of charts.

Up-to-date Information

Accounts adjustment will be automatically updated whenever accounting information and records will be entered or stored.

Backup

Backup all of your information is easy with automated accounting. You can keep a printed copy of all your yearly accounting in the form of printouts and parallel backup which can be complex in manual accounting.
Disadvantages of Computerized Accounting Software

Expense

Basically, every part of a computerized accounting system is expensive. PCs are more costly than paper records, and the software required for your accounting information includes a further expense which must be renewed or updated yearly.

Security and Performance

Computerized accounting software is unsecured for cybersecurity issues. Cloud-based software stores your organization’s data remotely, where it can be hacked. Your system might be infected with a virus that destroys all data. PCs also crash occasionally.

Implementation

Manual records are simple to set up and can be more adaptable than computerized accounting. You will probably require some underlying help setting up an accounting system. Your accountant or software supplier will usually charge you for this service.

Training

To guarantee effective and proficient use of the computerized accounting software, up to date knowledge of software or hardware is needed. This requires unique training and cost to teach the staff. MARK IT AS BRAINLIEST ☢☢☢