As software programs are written to aid, simplify and automate almost every human task, why should financial accounting be an exception? In fact, some of the earliest software programs, including Microsoft Excel were written with the requirements of the business user in mind. One thing that computers are exceedingly good at is number crunching and since accounting is all about dealing with numbers, it makes perfect sense to switch over to computerized accounting. Still, there are many who still rely on manual accounting, due to overall skepticism about automated accounting. What is Computerized Accounting? This type of accounting is all about using software programs to carry out every task that is part of the yearly accounting cycle. This involves the use of payroll software, maintaining of accounts payable and accounts receivable, besides maintaining a record of invoices using software programs.
There are many programs that can assist in tax calculations too. Some businesses may restrict themselves to just the use of spreadsheet software and some may completely handle their entire accounting cycle by using specialized software. Let us take a look at what are the pros and cons of switching over to automated accounting. Advantages and Disadvantages of Using Computerized Accounting If you are considering switching over to computerized bookkeeping, it would be helpful to consider the advantages and disadvantages that this decision brings in. Advantages Speed & Accuracy The prime benefit is speed and accuracy. Calculations can be zipped through substantially faster, compared to manual accounting.
Repetitive calculations are especially easier. All you have to do is key in the data, apply required calculation formula and let the software handle the rest. Spreadsheets with thousands of entries can be processed in a jiffy, using software. Unless wrongly programmed, a computer never errs, which provides you with a high degree of accuracy in accounting. As a consequence, you save a substantial amount of time, which can be invested in financial analysis.
Backing Up Facility & Easy Error Correction Backing up all your data is easier. You can maintain a hard copy of all your yearly accounting in the form of printouts, along with a parallel software backup. Another advantage is easy error correction, which can be difficult in manual accounting. Disadvantages Time Invested in Software Usage Training What could be considered a disadvantage is the substantial amount of time and money invested in training of personnel. For people used to manual accounting, it takes time to switch over to software usage, which can delay accounts processing.
For a non-computer savvy workforce, computerized accounting can be tough. However, you need to invest time and money in training just once. Security Risks Involved If precautions are not taken, including installation of anti-virus software and securing of office network, there is a security risk of losing data due to hacking attacks and spying via Internet.
Ergo, it's essential that adequate security safeguards are put in place, when using accounting software. Instead of entirely switching over to computers, a business may opt for a parallel implementation with manual accounting.
That way, you can have the advantages of both manual and automated modes. The speed and accuracy that a computer offers can help a company's accounts department focus on analysis and financial planning, instead of investing time in the manual labor of individual calculations for every entry.
To conclude, it's highly recommended that modern businesses opt for computerized accounting as the advantages far outweigh the disadvantages.
You are building a business and you are faced with the dilemma on using manual labor or automation. There is no black and white rule over the choice between both, but there is always the wise decision over its usability and productivity targets for both. There are several factors that I would like to discuss so that you will come to an understanding over the utility and productivity of both. The Advantages and Disadvantages of Automation You aim for efficiency and time saving ways to achieve your goal.
You choose machines over manual labor because these labor saving devices are cost effective. Let me point some advantages of choosing automation:.
Cost effective in terms of wage. The quality of work is standardized and accurate. Time saving. Efficient and costs are minimal. Efficient communication and reflection of the company’s prestige.
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When laying out your sales office for instance, manual labor or automation is a very big dilemma. You might say that having everything automated can really save you some costs over hiring people to do the job. Let me point out some disadvantages before you make a decision. You will have a very high capital outlay once you go for automation because machines are very expensive. Note that these machines have a definitive life span and they can be considered obsolete at a certain period of time. You will also face the challenges of a machine break down that will hamper productivity. Workers would be quite resistant at the onset because they feel that a machine is replacing them.
All these things should be considered before deciding whether a fully automated office is for you. Image attributed to The Advantages and Disadvantages of Manual Labor Let’s take the same scenario, you are setting up your sales office and you are considering manual labor or automation. Let me first point out some of its advantages:. Nothing beats personal relationships. You can communicate with people over goals. They can maintain good customer relationships. You can work as a team.
Examples Of Advantages And Disadvantages
They can be creative and can innovate. You can easily discuss problems and solutions with them. Some of the disadvantages that I could think of have something to do with relationships.
There might be workers that are not as efficient as a machine. What goes in between would be the bad attitude that may turn off clients.
For example, some have gone fully automated in terms of bank tellers because people have the tendency to take a leave from work, forget something, prioritize other things, and may not be as fast as an automated machine. The Decision Between Manual Labor or Automation If you ask me to choose between manual labor or automation, I would say it depends on the nature of your business and the goals you want to achieve. There are businesses that rely much on manual labor because they value relationships and flexibility. However, there are businesses that drives cost effectiveness, accuracy, and efficiency that merits automation.
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A mix of both would be ideal knowing how one can compensate for the other.
You often hear contrasting accounts of what it’s like to pursue a career in Recruitment. Some will tell you it’s the most stressful, ‘soul-destroying’ career you could choose. Others will tell you it’s a highly fulfilling and financially rewarding career path.
But who to believe? Is it all just targets, pressure and worry, or is the feeling of joy experienced in helping people find jobs they’ll love actually the overwhelming emotion? Usb driver windows 7. Euro truck simulator 2 mody mapy polski chomikuj. Sure, it depends on the person, and also the organisation and industry, but there are some general facts about working in recruitment – and that’s what I’m going to offer in this post.
Take it from someone who has worked as a recruiter; what follows is a pretty definitive list of the pros and cons of working in the recruitment industry, which I know many of my colleagues and acquaintances would agree with. Let’s start with the pros: Working in Recruitment – the Pros: Highly rewarded The common counter-argument to someone saying that recruitment can be a stressful job is the financial rewards – and rightly so! It’s true: depending on the role and company, you are able to earn astronomical amounts of money if you succeed in achieving your targets, but it’s all down to you and it’s unlikely that you’ll earn a huge amount at base level.
Build up an impressive skill tool box To be a truly successful recruiter you have to develop a number of different skills, such as:. Problem solving. Negotiation. Communication.
Empathy. Relationship building. Project/event management Developing these skills will benefit you both personally and professionally throughout your life and career, whatever direction you choose to take, making this career choice all the more rewarding in that respect. Help candidates achieve their goals Perhaps the most fulfilling part of the job (no, it’s not the money!) is assisting people with finding the right job for them – sometimes you can even be a part of fundamentally changing their life for the better. On an emotional level this is satisfying for both parties, and over time the honing of this art will make you a greater recruiter who can achieve more both for themselves and their employer. Solving clients’ problems As mentioned earlier, problem solving is a required skill for any recruiter wishing to enjoy a long career in the recruitment industry. Whilst it can be challenging, finding the solution to the issues that your clients face is both highly fulfilling and lucrative.
Every day is different Whilst there’s a rhythm to what you’re doing, every day is in fact completely different. In fact, even if you followed the exact same routine each day, you would still experience a totally different day each time. That’s because recruitment is a people business, and your day is full of interactions with humans. And humans are by nature quite unpredictable! It never gets boring, I can tell you that much. In addition, the required skills in each sector are constantly evolving, and the skill gaps present across industries shift over time, so it’s rare to find a market so static that it would lose your interest.
Your market is not for life Many recruiters choose to specialise in a core market that fits with their knowledge, strengths and interest. The great news is that even if you choose to do this to be the go-to recruiter in your niche, it doesn’t have to be for life: there are many transferrable skills that mean it’s not outside the realm of possibility to make a change of markets. Different types of roles to suit different types of people – it’s not all sales!
Within recruitment there are a number of different roles that could be right for you, depending on your skills and personality type. So, if you think you would just like helping people find work and building relationships with candidates, you can be a Resourcer or a Delivery Recruiter. If you want to do that as well as seeking out new business opportunities and forming long lasting relationships with clients, you can be a Recruitment Consultant.
If you don’t like the recruiting but love winning new business you could be a Business Development Manager, or if you want to focus on a small amount of clients and really develop relationships, you can be an Account Manager. There are more options than these of course, but you get the gist. Have influence in global businesses If you are doing your job right you should become a trusted recruitment partner to your clients and they should be listening to your guidance on their recruitment, because you are the expert. In this manner you can have quite a bit of influence on how they recruit and their recruitment strategy. If your clients are large global businesses, you could soon find yourself finding talent for and shaping the future of some of.
Manual accounting systems have a history that dates back to the beginnings of commerce, with thousands of years of development largely replaced in the last half-century by computer-based methods. No matter which method you choose for your small business, an accounting system that follows generally accepted accounting procedures sets a financial baseline, upon which reports and financial documents are based, communicating your company’s financial health to its stakeholders, whether they are staff, bank managers or private investors. With the plethora of software options available for accounting and bookkeeping tasks, manual systems may seem a thing of the past, yet double-entry manual accounting proves robust enough that many accounting applications re-create the features of the double-entry system within their software, such as the power and natural error-correction potential. When you weigh the options, manual entry systems may still have a place in your offices.
How Manual Accounting Works Any contemporary accounting system records transactions relating to business activity, separated roughly into four cycles:. Revenue.
Purchase. Payroll. General Journal Manual accounting systems use physical records, pads of paper and books, onto which transactions are entered by hand. Accounting pages have four or more printed columns and multiple rows, natural divisions for the necessary information, such as date, description and dollar amounts.
Numerical entries typically have space for every digit. Journals and ledgers comprise the working and final copies of documents, often with separate books for the various accounts.
Cash sales could be one set, for example, while payroll may be another. The results of these working documents are usually combined in the company’s general ledger. Advantages of Manual Accounting Despite the convenience and market penetration of computer-based accounting systems, manual accounting still offers several advantages that make it a viable alternative. Error Correction: double-entry accounting, attributed to Luca Pacioli, a 15 th century Italian, provides a natural way to guard against data entry errors and number transpositions. Every transaction gets entered as a debit in one account, and a credit in another account. Trial balances compare all debits and all credits. If these don’t match, an error is made somewhere in the accounts. Natural gas heaters for homes.
Data System Errors and File Corruption: Computer systems store data in ways that aren’t commonly understood by many users. Opening the wrong file with old data or encountering a data file with digital errors can ruin the validity of your current data. Manual systems use a single file, the ledger, for each account. There’s no other version with similar data that may be confused. Always Accessible: Power or internet outages won’t prevent you from working on accounts unless you’re thrown into complete darkness. Disadvantages of Manual Accounting More Frequent Data Entry Errors: Double-entry accounting in a manual system is laborious, since every transaction must be recorded by hand, twice.
Many accounting programs use a double-entry method, but second entry is created automatically. While this won’t stop a wrong number from being entered, it does eliminate discrepancies between the first and second entries.
Potential Loss of Physical Copies: While digital data can be corrupted, effective backups can protect data, including copies off-site, such as in cloud server storage. Journals and ledgers, being physical books, are prone to loss. Theft or fire could mean that all of a company’s accounting data is lost. Duplicating and storing the general ledger off-site can be a time-consuming task, compared with many digital storage options. Knowledge of Accounting Procedures: Unlike many commercial software packages, manual accounting system aren’t optimized for ease of use, nor can you expect client support or proprietary help. A bookkeeper or accountant will be necessary to start up and maintain your manual accounting system.
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