what are the advantages and disadvantages of using a pc package like MYOB or Quikcbooks, in comparison with using a manual accounting system|||Computer accounting packages are faster, less prone to human error and you can print statements/reports with little/no preparation.
However they rely on computers and power, which can fail.|||manual
would be cheaper
though more time consuming
difficult to easily get reports
relying on balancing trial balance every day
difficult to identify mistakes.
other systems require training
understanding of computers %26amp; of accountancy
improved speed
improved you to manage and drive your business with reports %26amp; graphs at the touch of a button
cheaper to give your accountant MYOB data file, and he feeds it thru his package to produce financial reports.
cash based system would cost a lot for the accountant to process.
|||Less human error, faster, easier to query (check what stats are and what not), and can increase internal controls if put together right.
Need to train all employees on how to use, if internal controls are not set properly it can be harmful to the company, crashes that lose important data, more controls need to be used so that confidential or private data are not used illegally with you to blame. Confidential is company data and private is customer private data.|||advantages
1.less troublesome
2.no calculation errors provided input given is correct
3.whole strata in one click
4.requires less managing tricks
5.fastest
disadvantage
1.if memory get lost every thing is lost(however that can be overcome by keeping record in USB)
2.requires indepth knowledge of computer accountancy
3.problem of viruses
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