In the current times, organizations are found to employ multiple information technology tools into their accounting information system. These are based on the advancement of the computer-based transactions system. In this system, the accounting data is found to be kept separately from the other operational processes. Degree of mechanization is found to be higher in this form of work. They ensure that the integrity of the processes is maintained. The treatments and the protocols that are observed by the companies are found to be similar to that of the manual systems (Davenport, 2013). The difference between the processes is that the user is filling out forms in the computer system using an accessible user interface.
In this process, there are easier transactions that are done. There are detailed accounts of the transactions that can be printed for the review any time. At this point, there is a greater degree of compartmentalization of work in order to preserve the integrity of processes. Checking of the data is done by the internal protocols that are observed to portray wide variety of reports. Numerous accounting packages are found to exist in the system. Having a simple accounting package contains the module that is used for the stand-alone module. In most of these cases, they exist in several smaller packages. Quick books and Peachtree software are some of the popular examples of this model (Zeff, 2012).
The accounting system should be some basic criteria that must be met. The first criteria are that there should be a cost benefit principle which is proven to be beneficial for the stakeholders involved in the process. It is imperative to understand that the financial information cannot and is not free. The companies are found to spend millions of dollars every year to ensure that there is gathering and organization of the financial information. In this principle, the cost of providing the financial information cannot dwarf the benefit of providing information for the users. If a particular organization is planning to provide and improve their IT operations, they should use the cost benefit analysis to understand the nuances and the benefits of implementation.