Acct 100 Week 7 Discussion Imagine You Are A Consultant .

Accounting AutomationNameInstitutional affiliationAccounting AutomationAn automated accounting system has now become a necessity in modern businesses. The system consists of computer software and hardware that allows for easy entry of transactions, editing, backup and retrieval of accounting information. The trend toward the computerized system is due to the complexity of accounts as the business grows bigger. Like any automated system, an automated accounting system saves a lot of time and effort because it does all the calculations. The system is more accurate and reliable. There are few errors associated with the error of principle, double entry or omission of transactions hence, the results are very reliable. The computerized system allows for convenient access of books. If the system is online, authorized individuals are able to check the books of account from anywhere. Computerized accounting allows for easy scalability of the accounts as the business grows and the accounts become more complex to be handled manually. Furthermore, the automated system is easier to back-up, and hence the accounting information is safe from calamities such as floods, fire and earthquakes(Singleton & Bologna, 2006, p. 218). However, the system is costly to implement. There are a lot of