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Computers In Accounting Around a generation ago an accountants tools would probably have consisted of a pencil and sharpener a hand-cranked calculator and a columnar pad An electric pencil sharpener in those days was a high-tech accessory Today the only one of those tools that you might find in an accountants office would be the pencil and sharpener Replacing everything else are computers Mostly personal computers PCs and their high-tech accessories and software products that do more than the hand-cranked calculators could ever think of doing Its taken years for accountants to adapt to computer technology Computers are now being used to perform accounting tasks such as posting transactions writing reports developing what-if business scenarios with spreadsheets preparing tax returns and keeping track of fixed assets and receivables After transactions are recorded they can be manipulated sorted analyzed summarized and turned into financial statements with ease In 1980 and early 90s the personal computer accounting system was divided into two major segments high-end and low-end systems A few mid-range accounting systems were also developed however these were never really big sellers Today the accounting system has three major levels On the highest tier of accounting systems the software solutions can start at 150000 the mid-range around 8000 to 50000 and the low-end anywhere from 100 to 5000 range Low end is further broken down into very low-end and larger low-end systems that are more functional but not quite big enough to be categorized in the mid-range computer systems Another computer related drive is the Internet and interfaces with the ability to have multiple software and hardware products communicating directly with the accounting system and its databases Commerce that is conducted using the Internet technology will be the most widely used technology in the years to come Quicken is a popular easy to use accounting system that is now providing remote entry of transactions through the web This allows Quicken users to enter transactions
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