Tally notes
🛑COMPUTERISED ACCOUNTING SYSTEM The computerised accounting system is an accounting data system that processes the financial transactions and transactions as per GAAP (Generally Accepted Accounting Principles) to produce reports as per user demands. Every accounting system, either computerised or manual, has two (2) aspects. First, it has to work under a set of well-defined theories known as accounting principles. Another, that there is a user-defined structure for the maintenance of records and the creation of reports. In a computerised accounting system, the structure of storage and processing of data is known as an operating environment that comprises of hardware as well as software in which the accounting system, works. The kind of accounting system used defines the operating environment. Both hardware and software are interdependent. The type of software defines the formation of the hardware. Further, the choice of hardwa...