Comparison manual and computerized accounting

As a result of the comparison between manual accounting system and computerized accounting system, to attain a larger volume of data and work accuracy in a shorter period it is better for organizations to use computerized accounting system to increase their www.doorway.ruted Reading Time: 3 mins.  · Both manual and computerized system is based on the same principles, conventions and concept of accounting. However, they differ only in their mechanism, in the sense that manual accounting uses pen and paper, to record transactions, whereas computerized accounting makes use of computers and internet, to enter transactions www.doorway.ruted Reading Time: 6 mins.  · Manual vs Computerized Accounting. The difference between Manual and Computerized Accounting is that manual accounting is where all the financial transactions are maintained in a register or in an accounting book and in computerized accounting all the financial transactions are recorded in accounting software.

analysis of computerized and manual accounting systems of quoted microfinance banks in Nigeria. Statement of problem The major challenge in the manual accounting system is that processing of customer information takes a very longer period of time. Customers waste precious time in joining long queues at the bank for. Manual accounting systems use pen and paper and require a lot of human effort to record transactions. In contrast, computerized accounting uses accounting software to record transactions electronically Manual accounting systems involve only human effort, with more chances of errors. A comparison between manual and computerized accounting systems Most small to medium-sized companies use either a manual or a computerized accounting system to track income and expenses. Assets, liabilities, revenue, expenses and equity must be documented and transferred to a general ledger containing the company's financial details.

Both the computerized and the manual accounting got the merits and the demerits. They can be differentiated only in terms of cost, speed and the mobility. It can be implemented according to the size of the business. Small and Medium sized companies prefer manual accounting considering the low cost. In manual accounting, in case a transaction is bound to affect different processes, you need to record it at multiple places to ensure that all the relevant ledgers are affected. In computerized accounting, all it takes is one instance of data entry, and all the integrated processes are accordingly taken care of. As a result of the comparison between manual accounting system and computerized accounting system, to attain a larger volume of data and work accuracy in a shorter period it is better for organizations to use computerized accounting system to increase their efficiency.