Applications of Computerised Acounting System (CAS)
The applications of CAS are as follows:
Maintaining accounting records: In CAS, accounting records can be maintained easily and efficiently for long time period. It does not require a large amount of physical space. It facilitates fast and accurate retrieval of data and information.
Inventory management: CAS facilitates efficient management of inventory. Fast moving, slow moving and obsolete inventory can be identified. Updated information about availability of inventory, level of inventory, etc., can be obtained instantly.
Pay roll preparation: Pay roll involves the calculation of amount due to an employee. Pay of an employee may be calculated based on hours/days worked or units produced. CAS records the attendance of employees, computes the amount of salary, makes deductions such as provident fund, income tax, etc.
Report generation: CAS helps to generate various routine and special purpose reports.
Data import/export: Accounting data and information can be imported from or exported to other users within the organisation as well as outside the organisation.
Taxation: CAS helps to compute various taxes and to deduct these and deposit the same to the Government account.