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Business Finance
Accounts Payable
Information Technology

What is the importance of computer accounting information systems?


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August 03, 2009 3:33PM

It speeds the bookkeeping process and increases accuracy thereby reducing labor costs. But most importantly, a computerized accounting system is a powerful tool, allowing you easily extract data in order to prepare reports and analyze the information. Reviewing and acting upon a well designed, comprehensive set of reports (in addition to the Financial Statements) will help keep the company on the right financial path.