Benefit Of Online Accounting Essay

The internet allows teams of professional anywhere in the world to collaborate on any project at the same time. Also computers can do repetitive tasks faster with fewer errors than humans. Business doesn't occur eye to eye as regularly as in the past. Instead, today's communication depends upon phone calls and messages chains that make it testing to become more acquainted with your accomplices. It's been a typical mourn among business people disappointed with the innovation that has turned into the standard in their everyday lives (Burg, 2013).

It was seen that the general population mostly opt for online shopping because of their changing life style. This makes them shop more online where they can save their time and also maintain their status. This online shopping not only fulfils customers need but also saves money and time of their buyers andthere it’s a win -win situation for all. 6.7% 2.7% 14% 76.7% 0 10 20 30

Technology has made the world change in so many different ways, technology has made businesses more efficient, companies from different locations can communicate easily with each other through video conference. Technology has benefited humans through globalization, entertainment and accurate and speedy processing of information. Benefits Of Technology The entire population of the world depends directly or indirectly on technology. The use of technology has become part of everyone’s daily activity. In the past transportation was slow and people usually move to long distances on foot but, the modern means of transportation is more convenient and faster, you can cover several miles in few hours using airplanes, electric trains and so on.

1.0 Introduction Enterprise resource planning is a business software to aid companies in running their business doings smoothly; making minimal errors. With the world evolving into a technological era, there have been many changes in the business world (Summer, n.d). Computers are now no longer in the ‘want’ category but the ‘need’ category due to its efficiency (Polizzi, Murphy and Norris, 2001). Big corporations have been trying to instigate enterprise resource planning when carrying out tasks. The software gives an incorporated view of the business processes that happening in the current time through a management database.

By simplifying responsibilities like recruitment, record keeping, and payroll, technology has drastically improved efficiency, accuracy, and even worker morale. Nowadays, with the given the boundless uses of technology, it is used in about each office in an organization. When it includes human asset, technology helps inside the method from recruiting to resign functions and it has extraordinarily changed the method of how managers and workers access human resource information. Information Technology helps in employing people because, before the internet, Human Resource recruiters had to depend on print distributions, similar to daily papers, to post jobs and get prospects for open positions. Alternative procedures like networking also were used.

Accurate record keeping is critical because of the continuous business transactions and the unending changes in finance. Through the use of computerized accounting systems, recording and posting of transactions, making financial statements, and the principle of double entry bookkeeping can be automated when done. According to Lewis (1999), the wastage of time on recording business transactions and preparing financial statements can be limited with the use of computerized accounting software. Computerization can lead to a better quality of financial reports. As determined by Van (n.d), computerized accounting software is a system used for recording financial information.

An organization 's database can contain facts and information on customers, workers, amount or quantity of items, competitors ' sales, online cash flow, and much more. A database manager for a large bank has developed a patented security process that creates a random number-based code from a customer 's bank card that can be checked for truth by a computer system through a customer database. Once the bank card and customer have been checked for truth, the customer can make a verifications of their transactions. Most managers and executives believe that database to be one of the most valuable parts of a computer-based information system. Data can be stored in large data centers, within computers of all sizes, on the internet, and in smart cell phones and small calculating devices.

As a result, your business banking may take more time, or you might even experience times where you can’t get online. (Chris Joseph) Best Online Banking Features to Simplify Your Life Does money management stress you out? If so, rather than gritting your teeth from month to month, what if you could effortlessly alleviate some of that stress for good? Online banking offers a lot of benefits that can help to simplify the headaches of money. (Lee, 2015) Let’s dive right in and see how online banking can make your life easier.