From the course: Accounting Foundations: Bookkeeping
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The role of computers
From the course: Accounting Foundations: Bookkeeping
The role of computers
- Individuals often ask, do I really need to know the difference between a debit and a credit? Haven't computers kind of taken care of all that? Well, computers have greatly facilitated a business's ability to quickly process huge amounts of information without making mathematical errors. Most computers can make millions of calculations per second and produce more documents in 10 minutes that a person could do in an entire week. The time spent posting and journalizing entries and summarizing accounts into a trial balance has been greatly reduced as a result of computers but computers still can't think. That it turns out, that's your job. Walk up to a computer terminal and show it a sales invoice and the computer will just sit there and wait. Wait for what? For the answer to three questions. What accounts are involved? Did the accounts increase or decrease? And by how much did each account change? Let's consider how one of the bestselling money management software packages, Quicken has…
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