![]() ![]() Among the benefits of computerized accounting system are high speed and mobility of reporting, reliability, no routine work, no redundancy, increased accuracy, tighter internal control system, increased productivity, and easy back up and restoration of records. Financial analysis and reporting also takes too much time with manual accounting. ![]() Gone were the days of manual accounting when companies needed to maintain large books as journals and ledgers. Excel spreadsheets, though less cumbersome than manual books, may not be enough especially if handling large amounts of transactions and hence data. ![]() It is a far departure from the way most businesses handle and manage their accounting transactions. Computerized Accounting System (CAS)Ĭomputerized accounting system, as the name suggests, employs technology in processing accounting transactions so that the only thing business employees do is to record transactions into the computer and the computer processes the other steps of accounting cycle automatically or by a request. This requirement has been in place since January 1, 2010. 09-2009, Philippine taxpayers, particularly large taxpayers, are required to maintain electronic systems or Computerized Accounting Systems (CAS) for record keeping and maintenance of records and books of accounts. ![]()
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