There are 3 kinds of accounting systems as I see them.
1> Batch system (like Cougar) which is date sensitive and
the data is accurate when all the batches are posted.
2> A transaction based system that requires the modules to
be closed each month (like Peachtree). Then the G/L is
3> A transaction system (like Quickbooks) where the all the
modules are posted immediately when the OK is hit.
Comments on each
1> The batch system gives the user a review process for
errors before posting either by the input person or by a
supervisor. The downside is the posting process and the
paper it generates.
2> The transaction system with monthly closings, the G/L is
never up to date and puts additional burdens to run the
monthly reports & getting everyone off the system to to that
3> The Quickbooks type systems don't allow for the review
With Quickbooks, specifically, it lets the user void
transactions from years ago ignoring that sales tax and
income tax returns have been filed. Quickbooks also slows
down significantly as the files become large. In extremely
large files, they can no longer be re-organized or repaired.