Document that usually takes a less experienced accountant hours to compile can now be created in a matter of seconds.Īutomating the accounting process creates the ability to expediently share information.
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This ensures that only the correct total listed at the end of the general ledger.ĬAS helps eliminate many cumbersome and time consuming manual processes because calculations are automated, many accounting software programs allow various reports, such as year-end financials, audit reports and statistical information to be generated at the touch of a button. Additions, subtractions and other calculations are performed by the machine. CAS are designed to minimize the existence of human errors and such expensive blunders. There is an old proverb that begins with the statement “to err is human” but in financial management the room for error is slim to non.
Some of the advantages or benefits of a CAS according the Henderson (2014) are: Accuracy Supply Chain Management: Allows you to track inventory, suppliers, goods pricing, and other supply side services.īENEFITS OF COMPUTERIZED ACCOUNTING SYSTEMS
Project Reporting: Let you manage the assets and workflow for multiple projects at one time. Reporting: Integrates your data with existing reporting standards, so that you can comply with regulations that affect your business. Assets: Let you manage fixed and fluid assets, calculate depreciation, and perform other asset management. Budgeting: Let you create and manage a budget. Benefits Management: Allows for employee budget management, accrued vacation time reporting, and other budget reporting. Auditing: tracking and managing income and expenses judiciously for check and balance purpose Payroll: Handles employee payroll within the accounting system. Accounts Receivable: Allows you to manage payments, billings, and incomes.
There are many different accounting options to choose from, including Microsoft Money, Microsoft Dynamics, Oracle, QuickBooks, Sage, Xero and of course MYOB (Mind Your Own Business) A good accounting system must have provision for the followings: Īccounts Payable: Allows you to manage invoices and bills that you must pay. When you mention CAS, many either think Payroll systems or Excel spreadsheet. A computerized accounting system has great potential to increase productivity, streamline workflow, reduce data redundancy and error reconciliation, and help with financial management for large and small businesses. Computerized Accounting Systems (CAS) is an accounting system or operation that is done with the use of computer technology. Although many small businesses keep track of all financial activity manually through the use of a physical ledger, other companies prefer to track monetary transactions with computerized software. Depending upon the size of an organization, developing an accounting system that is accurate and efficient can be a challenge.
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Every debt must be paid in full and on time, and all incoming monies must be noted. There are no hard and fast rules as to the position, it’s at the management’s discretion.Īccounting is a basic process required to operate any organization. MIS in most organizations, is part of the IT, ICT department, or the case of Kogi State University Information Technology and Resources Centre (ITRC). MIS is also used to create/generate reports on things like sales, revenues, expenses, projections, track growth or reduction as the case may be. MIS is used to gather and analyze information about various parts of your institution like: staff, students, school fees, inventory, production, distribution, sales, supply chains, evaluate performance of students, staff and directorate(sections) of the institution. Management Information Systems (MIS): is a method of using computer technology to help organize, better manage people and resources in an effort to make better informed decisions for your company or institution. Introduction Definitions Components of CAS Benefits of CAS Why CAS in academic institutions? Categories of CAS Where to start and what to do next List of common CAS software for 2015 Decision making Discussion and information sharing In this morning introductory section we will take a brief walk through the following topics: Pauline Ann Baba Director, ITRC Department of Science Education Faculty of Education May 20th 2015 ORGANIZED BY KOGI STATE UNIVERSITY CONSULTANCY SERVICES UNIT COMPUTERIZED ACCOUNTING SYSTEMS (CAS) (A TECHNOLOGY PERSPECTIVE)
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