Technology is something that affects each one of us daily at different levels. During the 20th century there have been several technological advances but technology always has played an important role in the evolution of human beings. In the following paragraphs we will discuss accounting information systems, information systems, and the effects of technology in accounting, information technology.
Computers are a technology that have impacted the manner in which accounting is now done. Computers have eliminated the need for pencils, ledgers, and calculators. With computer software and hardware it has become easier and simpler for the accountants to maintain records of the information so they can avoid most of the mistakes that were commonly made. Over the past few years’ computer software and hardware have presented a considerable amount of efficiency and effectiveness, which has changed completely the accounting phase.
Peachtree is a computerized accounting system that enables users to enter entries to subsidiary ledgers, ledgers, and journals all at the sometime. Rather than posting cash disbursements in different ledgers and journals, Peachtree permits the information to be entered once in the proper journal then it will apply the entry everywhere else. With the push of a button Peachtree will also make any adjustments and closing entries at the end of the period. This program produces income statement, balance sheets, statements of cash flow statements and retained earnings statement. Peachtree also has functions as keeping track of sent and received invoices; stay up to date with vendors, customers and employees. It can also be used to record contact information including name, phone number, address, social security numbers, tax information, etc.
Internet has affected accounting in many important aspects. “Internet is a collection of local and wide are...