Why accounting software is important in accounting cycle?

I can agree with previous answers. I can only add that very often it operating activity imposes requirements which must be fullfilled by accounting software.The more transactions a month, the more important is document workflow and standarisation of processes.

Now we have a large needs for a better processing system and recording as well in the operation. Accounting software have more quick, accurate in the recording and reporting.

 

Thank You .

The account software is very important because it has to record all the timeline activity which is inline with account cycle, each step of below mentioned should be covered in accounting software.

 

The time period principle requires that a business should prepare its financial statements on periodic basis. Therefore accounting cycle is followed once during each accounting period. Accounting Cycle starts from the recording of individual transactions and ends on the preparation of financial statements and closing entries.

 

Major Steps in Accounting Cycle

 

Following are the major steps involved in the accounting cycle. We will use a simple example problem to explain each step.

 

1. Analyzing and recording transactions via journal entries
2. Posting journal entries to ledger accounts
3. Preparing unadjusted trial balance
4. Preparing adjusting entries at the end of the period
5. Preparing adjusted trial balance
6. Preparing financial statements
7. Closing temporary accounts via closing entries
8. Preparing post-closing trial balance

thanks for Invitation 

 

Software is very important to Accounting or any Process other than Accounting 

 

safe People (Human Resource )  safe Time safe money a lot of things 

 

 

Recording of any transaction in software is very important for reporting and analysis of financial in one click

While a good accounting software does mitigate the risk of human prone errors to a large extent. its not important in accounting cycle. Accounting can take place even without a software. there are still so many business that function perfectly well without an accounting software. if managed by someone who is as good as what the software can do. 

Accounting software is important because we have yo record all all timelines activities, and to prepare all financial statements

Accounting software is important because it has All date to present financial clear view 

If the accounting software is made with all requirements of the client and with customisation according to the needs it plays an important role in preparing profit and loss account, balanceheet,vedndors accounts asset register etc .So this is very important in accounting cycle.

thanks for the invitation

it is important because it help us in second step and most important step in accounting cycle

and help us in all other steps in accounting cycle