That being said, an individual does not need to be a rocket scientist to keep the books for a business, in fact rocket scientists would take forever, triplicating each minor detail. We called that GIGO, or 'garbage in garbage out' and it holds true for accounting and even, or especially at the checkout line at your local store.
However, if you lose sight of what your answer(s) should look like, you run the risk of generating bad data due to bad data or initial account setup.īack in the days of IBM 360's and card readers, one errant character in a line of code would ruin your night's work. Let me start with one advantage that can also be a disadvantage.Ĭomputerized accounting gives you the ability to manage volumes of data compared even to a digital spreadsheet and replaces multiple paper ledger books.
