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what is a manual accounting?

Accounting is a way business owners manage their company & financial information. Business owners use accounting to record, report and analyze their company & financial information. Companies often generate several pieces of financial information from business transactions, and compile this information into general ledgers and journals. Historically, accounting was a manual process using paper books and documents for financial information. This process is known as manual accounting.

With the change in technology, most of the companies opt for computerised accounting. It is a system wherein the accounts of an organisation are maintained on a computer. Computerised accounting uses software programs designed from traditional manual accounting systems. Computerised accounting involves the use of computers, spreadsheets and programs designed to record and report financial information electronically.