what is pre-packged accounting software ? list any two advantages and two disadvantages of a pre packaged accounting software?
Answers
Pre-Packaged Software:
The software which is not user specific and easily available is known as pre-packaged software. Most small and medium organizations use this software because it records the details of the company.
Advantages:
- Easy to use
- Cost effective
Disadvantages:
- Cannot handle the complex things.
- This cannot fulfill the needs of specific business.
Answer:pre-packaged accounting software
Explanation:-There are several packaged accounting software which are available in the markel and are used extensively for small and medium sized organizations.These softwares are easy to use ,relatively inexpensive and readily available.Along with the software user's manuel is provided which guides the user on how to use the software
Advantages:-
1:-Available at a very cheap rate
2:-This allows the user's to make challan invoice,GRNs look the way they want
3:-Very effective for small and medium size businesses
Disadvantages
1:-Does not cover peculiarities of a specific business
2:-Security is generally missing in pre-packaged accounting since any person can view data of all companies with common access password