Implementation of a computerized accounting system at RUFORUM Secretariat

While some organizations still do their bookkeeping by hand, most organizations generally have many transactions making manual accounting system difficult and inefficient. The more complicated the financial activities of your business are, the more likely it is that you will need a computerized accounting system to ensure effective financial reporting. Computerized accounting systems are software programs that are stored on a company’s computer, network server or remotely accessed via the Internet. Computerized accounting systems allow you to set up income and expense accounts. They also can be used to manage bank accounts, pay bills, prepare and monitor budgets and prepare periodic financial reports. Depending on the versatility of the program, some accounting systems also allow you to prepare tax documents, handle payroll, and manage project costing. in some cases it is possible to customize the software to meet the needs of your business. It is important to make sure that your staff are trained and understand how to use the system correctly so that your company can successfully use your accounting program. This paper provides an overview of the RUFORUM Secretariat accounting system, the historical gaps faced and the needed functionalities from the computerized accounting system to be acquired. More importantly, this paper also examines the benefits of the computerized accounting system to RUFORUM Secretariat and the lessons learned from the use of the system.