Disadvantages and Advantages of manual accounting?

Question

please be very specific and detailed, thank u

Answer 1

Advantages:

Paper trail. When you do manual accounting you have a build up from collateral to support ledger to general ledger with identifiable tags who wrote the entry (e.g. handwriting).
Cheaper to implement. Obvious.
More transparent. Journal entries are put out verbatim instead of being "black boxed" by the software.

Disadvantages:
Slower.
Error prone. Subject to human error along the way.
More expensive to operate. As complexity in an accounting system rises, technology can automate a lot of process. For example, when I was an auditor on the City College of San Francisco account, they had about 40 people still doing manual ledgers. I also audited Hayward High School District, which had two accountants.
More secure. Security is easier since ledgers are more difficult to lock away than putting a password on a G/L system.

Answer 2

Disadvantages Of Manual Accounting System

Answer 3

manual would be cheaper though more time consuming difficult to easily get reports relying on balancing trial balance every day difficult to identify mistakes. other systems require training understanding of computers & of accountancy improved speed improved you to manage and drive your business with reports & graphs at the touch of a button cheaper to give your accountant MYOB data file, and he feeds it thru his package to produce financial reports. cash based system would cost a lot for the accountant to process.

Answer 4

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Time consuming Errors likely Can be costly (paying someone to do the accounting) Waste of cabinets