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Technology in accounting

Technology in accounting

Technology in accounting particularly computer technology plays a very significant role in business today. Accounting is a part of business. Computer technology plays the following role in accounting:

 

  • Reduces the time of record keeping, we can record ad process a gulf of information within the shortest possible time.
  • Reduces the cost of recording accounting data
  • Reduces the managerial efforts at minimum.
  • Improving the clerical accuracy
  • Collecting, processing and reporting of financial information to decision makers (owners, management, creditors, customers and so on) quickly.

Computer software programs like Microsoft word, Microsoft Excel, and Microsoft Access etc. are commonly used in accounting information system. some other specialized accounting software are used by several enterprises namely.

  1. Peachtree
  2. Tally
  3. AccPacc
  4. DacEasy etc.

What the modern enterprise need is people who can quickly short through masses of data, interpret their meaning and analyze their implications, In order to do that people need to have proper understanding of accounting. Besides these, many organizations make their own software with the help of programmers in accordance with the utility of organization.

Technology in accounting

 

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