Information can be transmitted simply and accurately if an orderly process is followed. We have provided a very basic system which should be considered as a starting point. Our approach to record-keeping in this chapter utilizes straightforward manual systems. The principal advantage of a computer is that entries are posted automatically to categories and this data can be quickly sorted and arranged to create reports. A computer will also minimize errors.
Computers have disadvantages.
Hardware and software are expensive and require trained personnel. Machines cannot operate without a steady supply of electricity. Also, when computers malfunction, they are difficult to service in the field. It is easy to operate, allows for hundreds of loan accounts and is widely available for either IBM or Apple formats.