Advantages and disadvantages of automating a manual accounting system, accounting homework help

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Business Finance

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Week 7 Discussion

  • Imagine you are a consultant hired to convert a manual accounting system to an automated system.
  • Suggest the key advantages and disadvantages of automating a manual accounting system.
  • Identify the most important step in the conversion process.
  • Provide a rationale for your response.

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Explanation & Answer

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Running head: ACCOUNTING

1

Automating a manual accounting system

Name

Instructor

Course

Date

ACCOUNTING

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The tremendous advancement in science and technology has impacted every sector.
Technological innovations and inventions have led to the migration of how most things are done.
This is known as the analog to digital migration which aims at changing the way most things are
handled. People and companies are moving from the analog manner of doing things in digital
ways. This is the same thing that has happened to the accounting practices that are carried out in
most companies (Thomsett, 2002). The manual accounting is converted into automated systems
that are digital. This paper mainly discusses the advantages and disadvantages of the conversion
of the accounting practices from manual to automated systems. It also explains the most crucial
step in this conversion.

First, the conversion to automated system greatly helps to save money by various ways.
They are good for the operation of small and medium-sized businesses as the systems can be
easily purchased off the shelf at a considerably low cost. The systems enable the business
managers to see the financial position of the company in “real time” (Gilbertson, 2015). This is
how they have been programed in a way that events of various transactions can be seen at the
time of need and as soon as they occur. Adjustments can, therefore, be freely made to the
strategy of the business as needed. A possible advantage that is likely to be experienced as a
result of converting the organization’s manual accounting system to an automated accounting
system is ac...


Anonymous
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