list some application of computers with special reference to the area of accounting?

SOFTWARE PACKAGES FOR ACCOUNTING
today there are number of ready-made software package that are available in the market. since the application in areas of accounting are standard, difference is in the number of features provided by in individual package. listed below are some standard application in the area of accounting. which will be covered by one or other package. the accounting areas according to application may be broadly divided into:
1).             General ledger
2).             Accounts payable
3).             Accounts receivable
GENERAL LEDGER
the general ledger system (G/L) helps in managing financial accounting. it generally serves the operational needs of an accounting system and also the statutory and manament information requirements of an organisation.
the reports generated by the system include:
.   Day-books
.     Journal
.      General ledger
.        Subsidiary ledger
ACCOUNTS PAYABLE
the accounts payable system (P/A) helps in monitoring suppliers bills, payments and outstanding . A/P also assists in managing payments and planing for cash requirements. facilities are available to enquirer on suppliers details, balances, outstanding and transactions.

the packages can be used as they are or modified by the originating agency as per the user requirements. standard packages are now offered by big as well a small organisations. these packages have immensely facilitates compensation of commercial applications viz.
.         trial balance
.          balance sheet
.          profit and loss statement
.           budget variance
.            funds flow statement
.             ratio analysis
ACCOUNTS RECEIVABLE
the accounts receivable system (A/R) helps in reducing money collection periods and minimizing bad debts.  A/R deals with customers invoices, receipts and balance, outstanding
and transactions.
A/R may generated about the following reports;
.              invoices register
.               receipts register
.               credit/debit notes register
.                customers journal
.                 customer ledger
.                  customer statement of accounts
.                  receipts due statements
.                 discount due statements
.                 interest receivable on overdue invoices
.                    customers directory.

list some application of computers with special reference to the area of accounting? 2015-03-13T21:48:00-07:00 Rating: 4.5 Diposkan Oleh: All apk power