Computerized financial information systems are faster and more efficient in processing data. Data is entered once and can then be used and reused in compiling reports by clicking a button. The systems enable accountants to access necessary information promptly by the click of a mouse. Unlike manual, the accountants do not have to go through a pile of paper work in order to locate the information needed. If a transaction needs correction, it can be easily done, with reports generated afterward at speeds. This is never possible with manual accounting systems. Accountants are now able to perform their activities more effectively and efficiently than before. For example, accountants can use software tools such as word processing software to prepare reports, billings, memos, and financial statements. Software automation takes the hard work out of some of accountants’ menial tasks. 

When data is entered in an accounting system, manual or computerized, an accountant needs to classify it in a detailed fashion. For example, a transaction could be a sales revenue or an interest revenue. Using information systems, this classification process is easily accomplished with a drop-down menu from which you choose the proper category. Accountants can also quickly generate reports involving classifications. With a manual system, this process takes much more time. Apart from that, Cloud solutions bring the power of automation to accountants’ practice. Automation streamlines their processes, saving time for them. There is no more time-consuming data entry, no messing around with complicated spreadsheets and no hunting through piles of paperwork to find documentation. Saved time can be put into deeper client relationships and value-added business advice.
 
 New responsibility
The role of accountant has expanded due to the development of the accounting information (AIS). AIS has increased the volume and the complexity of the information.  Accountants in AIS summarize the results of a firm’s transactions and issue reports to help managers make informed decisions. The accountants play an important role in developing and evaluating the standards of control and security of the accounting system since they work closely with the designers of the system. Now, the responsibility for accounting information systems design is divided between accountants and IT professionals. The accounting function is responsible for the conceptual system, and the IT function is responsible for the physical system. Hence, systems design is a collaborative effort. 

New approach of working 

Accountants will use increasingly sophisticated and smart technologies to enhance their traditional ways of working, and these technologies might even replace the traditional approach. Now, the average accountant’s workload is likely to look very different. Not only that, the accountant’s job is subsequently evolving from poster and preparer of information to retriever and explainer. They now have the responsibility to provide non-financial data. Soon, cloud software will be at the heart of accountants’ processes. Cloud accounting is more flexible. Accounting data can be accessed from anywhere on any device with an Internet connection. This means there’s less time spent analysing historic data and more time advising clients on the financial and strategic direction of their business. There is a shift from traditional accounting to real time accounting.