Ø
Double
Entry Bookkeeping
Ø
Principles
of Accounting
Ø
Journal
Ø
Ledger
Ø
Cash
Book
Ø
Subsidiary
Accounting Books
Ø
Trial
Balance
Ø
Bank
Reconciliation Statement
Ø
Depreciation
Ø
Rectification
Of Errors
Ø
Balance
sheet and Profit and Loss Account
Ø
Single
Entry Bookkeeping
Ø
Non
Benefit Organization
Ø
Capital
and Revenue
Ø
Reserves
and Provisions
In a very short time, computer has grown
from a medical appeal to an essential tool of computer society. There is hardly
any scientific/technical or business activity which is not in one way or the
other, suffering from modern pc techniques.
The human mind can handle only some things
at once. On the other hand digital computer can be designed to compare,
measure, determine and evaluate thousands of parts.
The computer market has become the
quickest growing market these days. The purchase of central processing unit,
computer techniques is increasing day by day. The computer market has been
further pushed up by the release of minicomputer and micro computer techniques
which are small, cheap, reliable and very light. These are being constantly
used for process control, development testing, medical device recording, in
shop check out techniques, in automobile test and analyzing techniques, and
medical tracking etc.
Computers are now being used substantially
in office administration to perform the schedule office performs. Today, most
huge and mid-sized organizations are almost totally dependent on their computer
techniques. Routine uses of computer techniques are given below:
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Computers are substantially used in
accounting and there is variety of computer software for Accounting, MIS, and
CRM. Hitch Financial Accounting is one such software which has been
personalized for users in many sections in business and services.
(ii) Pay-roll and personnel information.
Payroll accounting was the first
commercial area to become widely automated. The computation of income or
incomes involves a variety of factors which connect with the personal
information of each worker, such as total pay or rate for the job, individual
reductions, tax obligations of the workers and so on. This information can be
maintained in the computer and prepared every month of produce pay falls for
the workers.
(iii) Stock control
The computer allows exercising the kind of
stock control required by the company. It up to dates the revenue and buys
information, decides optimum re-order levels for different products and
printing out the stock lists when preferred. The system can be so designed that
it activates purchases when stock level reaches purchase factor for various
material items; assessments those item which are slow going or gives record for
over stock products.
(iv) Sale accounts records
Programming can be done for any revenue
accounting system. The computer will pin factor defaulting debtors, determine
the right limit for credit for each debtor and maintain stores ledger.
(v) Costing and budgetary control
Costing and budgetary control can be
impacted through your computer, your computer will factor out the modifications
from the planned performance.
(v) Production control
The computer also allows greatly in
development planning and control. It is possible that organizing of the perform
may become necessary due to crack downs etc. A new crucial direction may have
to be worked out. A crucial direction is the smallest direction to be followed
in development to achieve development goals. The computer helps the management
lay down this new crucial direction.
Advantages and drawbacks of a computer
A computer is surely beneficial because of
the top speed of operation and greater precision it provides, benefits impacted
by better managing control, benefits in labor because it is fully automatic and
lastly because of its versatility in use. However, there is considerable
investment expenditure with difficulty of obtaining experienced experts and
developers, crack down and maintenance troubles and lastly fears of obsolescence
due to rapid development of computer techniques.
Type of other applications in regards to
accounting system
WORD PROCESSOR
It is software to help in written text
handling. Terms are prepared. Processing includes placement, removal changing,
going words, sections etc. Term handling is the planning of kind programs,
using processing facilities for the storage and adjustment of written text. For
example, word processor has ability to blend name and details with standard
written text so as to give impression that the latter is personalized even in
case of round letter.
Hitch Financial Accounting has got
features so that you can trade its reports to Microsoft Word, a thing handling
and Mail Combine Program. You can also write characters to various parties and
shop information in the system data source.
DATA BASE
It is simple selections of information
(data) on a particular subject. Database file allows you to control information
in preferred form. So, information platform allows us to perform on information
and numbers to shop and operate that information in any preferred way. For
example, from the same primary information trial balance is prepared; trading
and profit and loss account may be prepared; record of individuals and lenders
may be prepared; buys and revenue prediction may be made and so on. So, an
efficient data-base management is required to offer versatility in uses of
information.
Hitch Financial Accounting uses MS Access
and MS SQL server data source for solid data source connection.
SPREAD SHEET
It is one of the software programs which
have improved the utility of computer for accounting requirements. Worksheet
applications help you to draw vertical as well as horizontally content on a
huge scaled paper. Each .column's length and depth can be modified according to
relevance. Even when content are once attracted therefore these can be changed,
improved or reduced extra content can be placed, existing content can be
removed. It is very useful for marketers and professionals. It enables us to
study multidimensional information at one sheet and allows in coming at
sensible choices. For example, if profit and loss account has been ready for
the year 1989 and you want a comparison with 1987 numbers and 1990 prediction
then propagate sheet shall enable you to offer two extra content on each side
for placing 1987 actual numbers and 1990 prediction reports.
Hitch Financial accounting software can
export its report information to Ms Succeed Worksheet which is an advanced
worksheet application.
A series of articles are suggested to be
written on the subjects mentioned in this article.