- Published: September 13, 2022
- Updated: September 13, 2022
- University / College: University of York
- Language: English
- Downloads: 6
Computerized accounting is a vital element for any kind of business, even small ones. It is one of the latest trends brought about by information technological advancement. Just like any innovation, it brings many deemed benefits in the field of business management. However, it should be emphasized that while computer softwares provide supreme assistance in accounting, CPAs still play an important role in ensuring proper and secure implementation.
Computer softwares come in various customized set of features. There are many software companies that provide specialized accounting packages for hotels, firms, wholesalers, manufacturers, property management companies, and more. However, if the business uses general business applications, computer softwares such as Quick books, Peach Tree, and MYOB will do. The basic computer software will cost anywhere within the range of $100 to $800. The price usually depends on the number of users, the software company, and its features. In addition to that, you will have to pay for annual upgrade fees. (Boehm, 2008)
Despite the deemed cost of having computerized accounting, many businesses still utilize this advancement primarily because it has many benefits. With a computerized accounting process, you can save time that is usually spent in generating information from your database. You can maintain more accurate records and you can also access these records a lot easier, anywhere you are. Computerized accounting also offers data security and integrity. (Boehm, 2008)
Though computerized accounting systems are very beneficial, you should keep in mind that your CPA still plays an important role in properfinancemanagement. CPAs can oversee the entire accounting process. They can also reconcile your bank accounts on a regular basis. Also, CPAs maintain internal controls that are needed in preventing theft and malfeasance by other employees in the company’s finance and accounting department. As such, no matter how useful and beneficial the automated software may be, it should be noted that human power is still vital and unique.
Source:
“ Software helps, but don’t forget oversight.(BUSINESS).” The Record (Bergen County, NJ)(June 13, 2008): B04. General OneFile . Gale. LIRN. 19 Sept. 2008
