Can Accounting Software Reduce Cost? Exploring the Benefits of Computerized Accounting

Computerized accounting 1
Computerized Accounting
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Computerized accounting 2
Abstract
Modern firms prefer computerized programs to run their daily operation mostly in accounting
departments. This exploratory project traces on how incorporation of such automations would assist in
reducing the costs within a firm. Furthermore, discussions are equally merged with the accounting
theories which must be integrated with the system so as to maintain accounting realism. This work also
bases arguments on existing literature work in the accounting dynamic.

Computerized accounting 3
Can accounting software help reduce cost?
Introduction
Accounting implies a manual process using documents as well as books purposely for financial
information. Accounting is an integral part of any business, be it large or small or aimed for profits or
nonprofit logistics. Enterprises use either manual or computerized forms of accounting systems which are
similar. The processes, accounting principles, concepts and results are the same with differences
experienced in the technicality of the whole process. It is evident that dealing with paperwork in
recording all transaction in an organization is tiresome, time-consuming and most importantly, waste
resources.
As information technologies systems nature progress, the manual form of accounting has become
inadequate in decision making. Subsequently, both private and public sectors in developed and
developing economies assess computerized accounting as the steer to an effective and efficient flow of
information and it aids in managerial decision making. Therefore, the firm will increase its ability to
reach the set business strategy and corporate objectives.
In the process of attaining the goals, accounting software enables the organization to conduct
their financial logistics faster compared to when using manual processes. This increases efficiency in the
long run to both the employees and the customers. Consequently, researching this area enables
organizations and the general scholars to identify the trending, most reliable and the best software
regarding speed and accuracy. In cases where specific software falls short, an organization can opt to
modify it rather than changing the whole software used to carry out accounting in the organization. This
reduces the cost and also reducing the risks of causing inconveniences when changing software.
Secondly, varied information can be tracked when using the software. However, at times,
automated programs tend to lose vital information hence hindering tracking. Luckily, research on this
matter can aid in ways of avoiding losing information during automation. An organization can upgrade
the software to include feature reports which alert on timelines of action, accounting task or any
information needed during tracking. Creation of flagging and review alerts can further enable error
alerting and act as checkpoints on the processes during automation respectively.
Lastly, researching on best automation practices tend to improve customer relations and their
involvements. This gives a platform where the organization can be flexible enough on giving updates or
any valuable information. In other words, dissemination of information to easily reach the customers.
Modification of customers’ portals, available financial USSD codes and automated updates in the