what is computerised accounting system definition
1 A computerized accounting system is designed to record all information and summarize it in the form of financial statements. 2  At the end of every period, the system generates financial statements that are distributed accordingly. Reports. 2  All information that is entered in the system is stored in the system. 3  Most companies perform back-ups to the system regularly to avoid losing any information. 4  A computerized accounting system is designed to record all information and summarize it in the form of financial statements.