computerized accounting

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:23AM in AAT student discussion
hi every one <BR>could any one let me know what report acomputer can generte quickly and accurately<BR>and why would implementing account codes in an accounting system would be benificial<BR> thanks jewels

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    computerized accounting

    Hi<BR><BR>The computer can print many reports quickly an accurately such as Trial Balance/P&L/Balace Sheet, Aged Debtors and Creditors reports etc.<BR><BR>Account codes are specific to individual accounts, so if you had a lot of accounts in the system, it would be easier to be able to input a code number ie 001 - 002 etc instead of having to type in a long name, it would also cut down on the incorrect account being entered into, ie M Smith instead of N Smith. (You would need to keep a list of accounts for cross-referencing).<BR><BR>Codes in the computer are also used for stock and nominal codes and make it easier to locate information, as for example all codes from 00-- to 4--- in sage are balance sheet and the codes from 5--- to 9999 are profit and loss.<BR><BR>Hope this helps<BR><BR>Tracy

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