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m Computerized Accounting & Manual

Accounting.
m Limitations of Manual Accounting.
m Features of Computerized Accounting.
m Advantages of Computerized Accounting System.
m Different reports for management.
m Different accounting packages.
COMPUTERIZED ACCOUNTING

Vs

MANUAL ACCOUNTING
Computerized Accounting is the process of entering
business transactions and generating financial
statements and reports with the help of computers. It
is used to simplify the accounting process.

In Manual Accounting, after transactions are entered


in the books of original entry, there need a number of
process like posting, extracting balances, preparation
of Trial balance, rectification of errors, recording
adjusting entries etc before the preparation of final
accounts and reports.
Major limitations of Manual Book-Keeping

_ Alterations and additions are not easy. A small


error may result in the correction of entire
documents.
_ Any small mistakes, errors or duplication may
result in unmatched Trial Balance or Balance
Sheet.
_ We cannot deal with the account books of
more than one year simultaneously.
Features of Computerized Accounting
_ Onscreen input and printout of sales invoices.
_ Automatic updating of customers accounts in the
sales ledger.
_ Recording of suppliers͛ invoices.
_ Recording of bank receipts.
_ Making payments to suppliers and for expenses.
_ Automatic adjustment of stock records.
_ Automatic calculation of payroll and associated
entries.
Advantages of Computerized
Accounting System
m As soon as transactions are entered in voucher,
the books of accounts are get posted instantly
and automatically.
m Reports in different formats can be prepared.
m Alterations and additions in transactions are easy
and gives changed result instantly.
m All the books of accounts including final accounts
are available for the user.
m Annual and monthly budgets can be set and
variance reports can be obtained readily.
m !p-to-date information
m Availability of information
m Management information
m GST/VAT return
m Staff motivation
m Cost savings
m Reduce frustration to management
m Working in multiple currencies
Different reports for management
m Aged debtors͛ summary ʹ a summary of
customer accounts showing overdue amounts.
m Trial balance, trading and profit and loss
account and balance sheet.
m Stock valuation
m Sales analysis
m GST/VAT returns
m Payroll analysis
Most commonly used Accounting
Packages are :
Tally
Peachtree
DacEasy
Ex-Next Generation
ATACC
Quick books
MIP Fund Accounting
Mas90
GnuCash
Tally.ERP 9
Tally(ERP)

_Tally.ERP 9

_Tally.ERP 9 - Auditors'
Edition

_Tally.ERP 9 - Rental
MRP Rupees
Description
(Inclusive of taxes)

Tally.ERP 9 Silver 13,500.00


Tally.ERP 9 Gold 40,500.00
Shoper 9 Silver 13,500.00
Shoper 9 Gold 40,500.00
Shoper 9 Diamond 2,70,000.00

Tally.ERP 9 Silver on rent (Quarterly*) 1,350.00

Tally.ERP 9 Gold on rent (Quarterly*) 4,050.00


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Peachtree Accounting

Sage Peachtree Accounting Software and Financial Software

Sage Peachtree Accounting Software provides network-ready accounting


software to small businesses with up to 50 employees that need

_ accounts payable
_ account receivable
_ payroll
_ support
_ job costing
_ any small business who needs accounting
Quick books

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_ Online application (sometimes called a hosted solution), you contract with


a service provider to securely store and back up your financial information.

_ Basic service generally includes double-entry general ledgers, invoicing,


accounts payable, accounts receivable and financial reporting.

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o Anytime, anywhere accounting
o Hassle-free technology
o Integrated features
REFERENCES
_ www.gnucash.org

_ www.tally.com

_ www.peachtree.com

_ www.idealware.org

_ Computerized Accounting ʹ SCERT