the effect computerization has had on the accounting cycle

MYOB is one kind of software for people to do accounting. The features of computerized general ledger package can be summarized as follows:

Files:
MYOB uses the files to store data and processing instructions. When we open the MYOB software, we will be introduced to open a certain file that record all the accounting data about a individual company. Usually the files are classified as different types, including master files, transaction files, history files, and suspense files. Obviously the ledger files are considered as a master file.

Storage and Access of Data in MYOB Accounting System:
Computers often use sequential or random order to store or access a file. Nowadays, random store or access is leading the main stream of IT. This method will provide a high speed to store or access data that we need. The data can be saved on a storage medium like a hard disk, floppy disk, or compact disk. However, some storage devices allow sequential access only, such as tape storage. The MYO...