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| 1. |
Difference between manual and computerized accounting |
| Answer» \tParameter of ComparisonManual AccountingComputerized AccountingDefinitionIt uses books and physical registers to record financial data.It uses a computer with financial software to collect financial data electronically.DocumentingDocumenting is attainable via book of original entryA customized database is used to record data content.CalculationOne performs all the calculations by hand.The computer system carries out the calculations after one feeds it with the data.AccuracyProne to mistakesThe software confirms transactions making it unlikely to record a mistakeFinancial StatementsAccountants develop it at the end of every fiscal year or quarter.It is always ready.Trial balanceIt is prepared when requiredIt provides a trial balance every daySpeedSlowRelatively fasterBackupIt is hard to backup dataYou can save entries of transactions and back them up easily.\t | |