Benefits of Manual Accounting : Lower Capital Cost, Less Training Cost, Editing to correct errors may be straightforward ( although may require starting from scratch) , Limitations of Manual Accounting Systems: Transaction processing is much slower , Less Secure, Calculation errors more likely, Audits can take more time, paper based system can be bulky with inconsistent output, No automatic back up system , Benefits of Computerised Accounting Systems: Much faster, more efficient performnace, More system control and accuracy - Less errors, Strong security - multi character passwords automatic backing up of data, Data analysis and report generation is much easier , Can handle huge volumes of data, Enhanced Reporting, Limitations of Computerised Accounting Systems: Capital Cost - expensive, Extensive staff training required, Security issues constantly evovling, System crash power outages can shutdown work,

Manual V Computerised Accounting Systems

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