Q.Explain the features of Computerised Accounting.

A computerised accounting system records transactions using software and a database. Its chief features are speed, accuracy, reliability, huge storage capacity, instant retrieval, automatic report generation, up-to-date information, versatility, scalability and data security.

The main features of computerised accounting in the TS Intermediate 2nd-year Accountancy syllabus (which aligns with the NCERT/CBSE commerce curriculum, though this is TS board content) are:

1. Speed: Large volumes of transactions are processed very quickly.
2. Accuracy: Once data is entered correctly, calculations are error-free.
3. Reliability: The computer performs repetitive tasks consistently without fatigue.
4. Storage and retrieval: Vast data can be stored and retrieved instantly whenever required.
5. Up-to-date information: Ledgers and balances are automatically updated after each entry. …