What Are the Benefits of a Computerized Ordering System

question 60

Essay

What are the benefits of a computerized ordering system?

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Definitions:

Supplies Account

An account used in accounting to track the amount spent on supplies that are used in the business operations.

Accounting System

A systematic process of collecting, recording, classifying, summarizing, and interpreting financial transactions of a business.

Purchases Journal

The purchases journal is an accounting record used to document all purchases of merchandise on credit, tracking the total amount owed to suppliers.

Cash Receipts Journal

A specialized accounting journal used to record all cash inflows or cash received by an organization.