In our society today, information technology plays an important role in many forms of business, especially in the field of accounting. As technology advances, the use of computers not only enters the daily lives of individuals, but also helps manage and improve many business operations, from services to manufacturing to retail. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Ken, an accounting graduate, works as an accounting clerk at Advance Manage, a service company based in Markham, Ontario. The small business is in the form of a partnership and has only 5 employees. Advance Management primarily provides services to property owners seeking proper management of their residential complexes such as small squares and apartment buildings. Since Ken is aware of the importance of computer skills in the job market, he dedicates a lot of time to self-study on his PC at home. Due to his experience in accounting and his adequate knowledge of computers, he believes that computerized accounting is easy to use and saves a lot of time. With computer technology changing at such a rapid pace, many businesses try to keep up by constantly updating their computer system to stay competitive. In the example of Advance Management; the IT equipment they have is quite advanced. For example, they own 3 computers, one of which is exclusively for accounting purposes. The system includes a Pentium II CPU with 300 MHz microprocessor, an on-board 64 MB SD Ram, a 56 K modem, a 32+CD-ROM, and also a 4.3 GB Hard Disk. This high-quality equipment was purchased recently and has already contributed a lot in improving the operation of the company by carrying out better and faster jobs. Advance Management also has its own great software to go along with its advanced IT system. The software is designed specifically for use in property management and is called AFEX. This property management accounting software has been in use for almost a year and is very useful for working with the company's accounting routine. The company uses accounting software to a large extent. All customer accounts, debts, payroll and financial statements are conveniently managed on your computer. For customer accounts, by entering all the information (e.g. account number, name, addresses, rent and lease term) into the database, a customer account is formed. Since each center pays rent monthly, the amount is automatically debited from the individual's active rent account. The software's spreadsheet accurately displays the updated amount outstanding, amount and date paid, and time remaining on each tenant's lease. For the accounts payable account, the supplier information must be entered into the system for creating the account payable records. Upon receipt of invoices or statements, Ken, the accounting clerk, credits the amount to the individual supplier's account. When you make payments, checks are printed and the system calculates the correct cash and accounts payable balances. The program also allows you to accurately calculate your monthly payroll schedule. Simply by entering all employee information such as name, working hours, salary, etc. into the database. So, payroll can be done with the guidance of the program. This special software has many advantages. According to Ken Wong, the system is valuable for its specialization in the field of management accounting. Use this.