State any three advantages of computerized accounting system.
Advantages of Computarized Accounting Systems :-
(a) LARGE VOLUME OF TRANSACTIONS - In the present- day business environment,
the transactions of a business are normally large in volume. The computerised accounting system can store and process such voluminous transactions with speed and accuracy.
(b) TIMELY REPORTING - Availability of reports on time enables the management to take quick decisions, which is an important element for the successs of an enterprise.
(c) LESS PAPER WORK - Under the computerised process, there is less paper work as compared to the paper work in the manual process.