When it comes to accounting, there are two main methods that are commonly used - manual accounting and computerised accounting. In the Level 1 Certificate in Computerised Accounting, students are introduced to both methods and learn about the key differences between them.
| Aspect | Description |
|---|---|
| Process | In manual accounting, all transactions are recorded by hand in journals, ledgers, and other accounting books. |
| Time-consuming | Manual accounting is a time-consuming process as each transaction needs to be recorded manually. |
| Prone to errors | Due to the manual nature of the process, there is a higher chance of errors in calculations and recording. |
| Aspect | Description |
|---|---|
| Process | In computerised accounting, transactions are recorded using accounting software on a computer. |
| Efficiency | Computerised accounting is more efficient as transactions can be recorded and processed quickly. |
| Accuracy | With computerised accounting, there is less room for errors as calculations are done automatically by the software. |
Overall, the key differences between manual and computerised accounting in the Level 1 Certificate in Computerised Accounting lie in the process, time consumption, and accuracy. While manual accounting is a traditional method that requires manual recording and is prone to errors, computerised accounting is a modern and efficient method that ensures accuracy and saves time.