Comparison Between Manual And Computerized Accounting

Accounting is a fundamental slogan of every business. Without the accounting practice, it is difficult to be effective in your business. Its basically helps you to monitor the transactions happening and make sure that all the expenditures are meaningful. Accounting helps you to reduce the unnecessary expenses and increase the profit scale of the business. All the companies implementing the same strategy of recording the transactions to achieve the maximized profit with the minimized expenditure. Accounting can be done either manually or using the accounting software. We are going to discuss about the advantages and disadvantages of the manual accounting and the computerized accounting in this article.
Generally accounting cycle has certain steps of activities. Recording all the transactions as “Journal”. Posting them into ledger accounts. Preparing trial balance, making adjustment entries, preparing adjusted trial balance, preparing financial statements and proper disclosures, posting the closing entries and preparing the balance sheet. This is all about accounting. It is not a big deal to carry out this sequential process, but its become dramatically hectic when there are thousands of transactions.
Let us focus on the main issues of manual accounting here. Paper works are involved in manual accounting. All the accounting activities would be carried out on the paper manually. Obviously, it would take much time and resources for the large organization. Computerized accounting saves lot of time where in, the employee has to record the transactions and all the other calculations would be carried out by the software either automatically or by a request. Computerized accounting provides accurate results on the precised report but some software takes much time and resources as manual accounting requires. Hence, it is not easy to decide on which software would work more fast and economic. Best computerized accounting software is highly expensive. On the other hand, computerized accounting could handle thousand calculations simultaneously where as manual accounting needs much time to do that. Even then, we cannot say that manual accounting provides no benefits. Manual accounting can be handled with cheap work force and resources. It is reliable as it is done manually with minutes of observations. Do not have to rely on the machines.
The main advantage of computerized accounting is the speed and accuracy. We can have an easy backup and restoration system. All the data and information will be secured. The disadvantages includes high cost, updating the system, special training for the personnel, relying only on the machines and the reduced employment.
Both the computerized and the manual accounting got the merits and the demerits. They can be differentiated only in terms of cost, speed and the mobility. It can be implemented according to the size of the business. Small and Medium sized companies prefer manual accounting considering the low cost. They could utilize quality accountants and carry out the day to day activity or even they could simply offshore their accounting tasks to an outsourcing firm. Large scale businesses completely rely on the computerized accounting as it gives fast and accurate results. It would be really helpful for them to have the accounting records without any chaos.

Do you have a Sales Culture?

In the wake of burning through 3 fruitful years as the provincial CEO of Europe, Aditi was moved to Asia to pivot a standout amongst the most key however battling business verticals. Before long she understood there were multifold issues with the current operations. Declining deals was the most basic one. She needed to get few changes in the overarching culture and rouse the business group.
The main question that emerged in her brain was “What would she be able to do as such that the business reliably begins offering more?”
The main thing she chose to concentrate on was the “Organization Culture”. Presently, the problem was, if she assemble an extremely forceful culture driven by numbers, high on achievements, concentrate on results as opposed to endeavors, offer high impetuses, take after contract and fire methodology, keep up all the set strategies and techniques and make a framework driven approach with definitive administration.
On the other hand, if she construct an individuals orientated environment that rouses and draws in everybody in the association, which persuades individuals to dream, concentrates on endeavors, is high on alliance, feels for workers, concentrates on a community approach, advances bunch based impetuses and keeps up liquid procedures.
She was clear that the primary alternative would get great numbers and would expand deals complex! What’s more, this is the thing that she needed; yet she likewise realized this is even more a transient approach where individuals are simply considered as cash making machines. What’s more, if a machine doesn’t work, the arrangement was straightforward – supplant it! Repairing machines or repairing it would be an exercise in futility. In this way, now she was persuaded that she can’t stand to have a transient approach.
While assessing the other alternative, she comprehended that this choice would manufacture individuals driven culture. Individuals working in this culture appeared to be entirely casual. In spite of the fact that there was unwaveringness to the association, numbers were the issue. She knew this choice alone would likewise not bring the wanted consequences of expanding the business numbers exponentially.
After a point by point investigation of both the alternatives, she considered making a combination of both the methodologies and limited down on 3 things:
Making singular, bunch and in addition association level motivations and connecting them with numbers, numbers + group building and group assembling + development separately.
Executing execution administration markers to distinguish entertainers and non-entertainers.
Making solid preparing modules on basic parts of business improvement, customer engagement, significance of overhauling and couple of more client driven exercises.
She was persuaded that an association with such a culture would be very much situated to accomplish exponential incomes, benefit, and development. She named this new culture as deals culture – A culture where everybody grasps the way that they have a part in expanding deals, straightforwardly or in a roundabout way. Where individuals are roused to add to the general mission of the association, where individuals are motivated to take possession and add to the vision of organization.