From my reading of literature from around the world, this suggests that the computer has simplified financial accounting and that the adoption of computers has contributed to the tradition of financial reporting. Role of computer in financial accounting and accounting software packages. Say no to plagiarism. Get a tailor-made essay on “Why violent video games should not be banned”? Get an original essay Accounting software can help a business with typical day-to-day financial accounting tasks such as sales, invoicing and receipts, purchasing and payments, banking and cash management. , VAT, tax and accounting, inventory control and payroll. According to Jayden Mathews, financial accounting software performs scheduled business and accounting transactions. In most financial services, accounting applications such as QuickBooks, STFB, and SAP Business One are used to perform financial transactions and manage a company's income and expenses. These types of programs are used to help track financial transactions and perform complex transactions effortlessly without consuming a lot of time and labor that would otherwise be used in case of manual transactions. Spreadsheet software is also known as "what if" queries that influence the way businesses and individuals enter and organize financial data. Using spreadsheets is much faster, more accurate and easier to use than traditional accounting techniques. They are used to perform typical financial tasks, such as compiling financial data, presenting data in an organized manner through the use of charts and graphs, establishing budgets, and calculating transactions. Also used to track sales, expenses and inventory records, as well as budget and forecast future sales and expenses. Computer spreadsheets have become the most important of all modern financial accounting and reporting software tools. One of the strengths of using computers in financial accounting is the reduction in the number of accountants that accountants needed to process transactions in their repetitive accounting work. the efficiency of the preparation of financial reports and the accuracy of accounting data. The Role of Computers in Current and Modern Financial Accounting Nowadays, the right accounting software is available and has significantly changed traditional financial accounting. In the past, traditional financial accounting proved to be unmanageable and difficult to use as accountants had to use the manual method of maintaining and maintaining records. With the introduction of computers in financial accounting, the manual method of accounting is gradually being replaced. Keep in mind: this is just a sample. Get a personalized document from our expert writers now. Get a Custom Essay Finally, database technology has completely changed financial accounting services. Before the use of personal computers, businesses and businesses were limited to manual methods for tracking financial data. According to Tavakolian (1995), manual accounting systems consisted of paper ledgers, typewriters and calculators. But many mistakes can be made and data is usually not detected with this system. Nowadays the use of computers in financial accounting system..