Q.What is Computerised Accounting System (CAS) ?

CAS is the use of accounting software on a computer to record, process and report accounting transactions, producing ledgers, trial balance and financial statements automatically.

Meaning: A Computerised Accounting System (CAS) is a system of maintaining accounts with the help of a computer and accounting software instead of manual books. Once a transaction is entered (as a voucher), the software automatically posts it to the ledger, updates balances, and prepares the trial balance, Trading and Profit & Loss account, balance sheet and other reports.

Key features:

• Data entry through pre-designed vouchers/forms.
• Automatic processing — posting, balancing and totalling are done by the software.
• Accuracy and speed — arithmetic errors are eliminated and reports are instant. …