M1: Compare the Benefits of Using Manual and Computerised Accounting System to Record Business Transactions.

1471 Words Jun 10th, 2013 6 Pages
Unit 8: Computer and computerised accounting system
M1: Compare the benefits of using manual and computerised accounting system to record business transactions.
In this assignment I will be comparing the benefit of using manual and computerised accounting system to record business transactions.
Accounting software available
Microsoft Excel
Features: Excel allows users to auto sum where it helps you to add the contents of a column of adjacent cells. This is easier for businesses because they don’t have to add up the contents by their self’s and it’s less likely for them to make a mistake. List auto fill allows you to automatically extend the cells, where it allows you to make new changes rather than starting again. Auto fill is
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E.F.T.A.P.S allows you to see a statement that is clearly stating the transactions a person has made.
Businesses that use it: Supermarkets, retailers, individuals and etc…
What’s the benefit & limitations of computerising?
Sharing data & files: Computers allows businesses to communicate with other divisions anywhere around the world or even within the work place. For example all the computers in businesses are connected therefore if a person wanted to out down some information about a customer it would be saved onto all the other computer systems as well so that information can be shared. The limitations of computerising is that businesses might accidently leak data about customers to the public due to an unreliable employee, this would create problems for the business because customers and employees may frown upon this.
It stores information about customers: The benefit of computers for businesses is that they have the ability to copy data and information about customers on to their system; computers are also able to distribute data and information fast. Another benefit is that computers can organise files in an order that they can find easily. However if a business was to store information on paper this would take up room and it would be hard to look through. The limitations of this is that a computer doesn’t last forever when too much data is kept on the computer the computer starts to slow down. Therefore it’s better for businesses to keep data about

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