Difference Between Manual Accounting & The Computerized Accounting
In this post, we will see the difference between Manual Accounting and Computerized Accounting.
In accounting, the transactions are recorded, processed, and presented as per the applicable financial reporting framework and the final result is the financial statements. These financial statements help the readers in the decision-making.
What is Manual Accounting?
The manual Accounting system is a traditional system of accounting that uses physical registers, books, vouchers, etc. to keep the financial record. In this system, all the calculations are performed manually.
What is Computerized Accounting?
The Computerized Accounting system is a modern accounting system that uses accounting software for recording of financial transactions electronically like Tally SAP etc. In the computerized accounting system, only the input data is required, the calculations are performed by the computer system.
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Accounting in Textbooks Vs. Accounting in Companies
| Accounting in Textbooks (Traditional) | Accounting in Companies (Using Computers) |
|---|---|
| Accounting is done manually using pen and physical registers, books, vouchers, etc | Accounting is done with the help of computers like using some software TallyPrime, SAP, etc. |
| In books (Manual) we follow the following steps: 1. Record Entries 2. Prepare Ledgers 3.Prepare Trial Balance 4. Prepare Profit & Loss – Balance Sheet | But in a Computerized system we do the following: 1. Create Ledger 2. Record Entries Computer software automatically prepares trial balance, Balance Sheet any other reports as per the requirement. |
| In this accounting system, there are more chances of errors. | There are fewer chances of errors. |
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If you want to make the lower case, The Excel LOWER function Converts all uppercase letters in a text string to lowercase. It ignores space, numbers, and punctuation. Visit this link – Excel LOWER Function.
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