There are two ways to do the accounting process, either manually or computerized. If your business is small and transactions are few, manually recording the transactions and preparing the financial reports is enough. However, if the business is large and transactions are voluminous, it is better to use computerized accounting system. This is an accounting software where details of the transactions are encoded and the computer with the assistance of the software will process the encoded data towards the preparation of the financial reports. Once computerized accounting system is in placed and relied upon by the business firm to get their accounting information, doing without the system is like being a person whose hands were amputated or visions were impaired. That's how important the system becomes to the business firm.