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Difference between manual and computerized accounting

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Difference between manual and computerized accounting
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Sia ? 2 years, 9 months ago

Parameter of Comparison Manual Accounting Computerized Accounting
Definition It uses books and physical registers to record financial data. It uses a computer with financial software to collect financial data electronically.
Documenting Documenting is attainable via book of original entry A customized database is used to record data content.
Calculation One performs all the calculations by hand. The computer system carries out the calculations after one feeds it with the data.
Accuracy Prone to mistakes The software confirms transactions making it unlikely to record a mistake
Financial Statements Accountants develop it at the end of every fiscal year or quarter. It is always ready.
Trial balance It is prepared when required It provides a trial balance every day
Speed Slow Relatively faster
Backup It is hard to backup data You can save entries of transactions and back them up easily.
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