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Use of computers in accounting

P.k.krishna

Class 11 commerce

OLD METHODS AND MACHINES USED IN ACCOUNTING

The most common method of keeping the financial records of a company was manually. A bookkeeper kept the journals, the accounts receivable, the accounts payable and ledgers.

In later years, an accounting machine, which was capable of performing normal bookkeeping functions, such as tabulating in vertical columns, performing arithmetic functions, and typing horizontal rows was used.

The billing machine, which was designed to typewrite names, addresses, and descriptions, to multiply and extend, to compute discounts, and to add net total, posting the requisite data to the proper accounts, and so to prepare a customers bill automatically once the operator has entered the necessary information, was used.

Early accounting machines were marvels of mechanical complexity, often combining a typewriter and various kinds of calculator elements. The refinements in speed and capacity made possible by advances in electronics and operating complexity of these machines.

Many of the newer generations of accounting machines are operated by a computer to which they are permanently connected.

USE OF COMPUTERS IN ACCOUNTING

Due to the minute by minute change in finances, accurate record keeping is critical. Computerizing a business general ledger, payroll, and other accounting tasks increases office efficiency. With a computer, you can request and receive an in house balance sheet, an income statement, or other accounting reports at a moments notice. While keeping your chequebook on a computer may not be practical, computers are great for handling complex home financial records. You can get statements on net worth and years tax deductible expenses within minutes.

Here are a few types of

Introduction:-

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