Database vs Manual Accounting Systems Task Manual Accounting System Debit and credit journal entries made manually Transactions Entered: Vendor Transactions Customer Transactions Employee Transactions Database Accounting System Transactions entered using onscreen database forms such as onscreen invoices and checks Debit and credit journal entries made manually Adjustments made using onscreen journal Financial Cycle: Adjusting Entries Correcting Entries Financial Cycle: Closing Entries Account Balances Debit and credit journal entries made manually Completed automatically Entries in journal manually posted to General Ledger accounts and account balances recalculated Account information stored in database tables, balances auto- matically calculated Financial Statements and Reports Reports prepared manually using General Ledger account balances Database queries retrieve infor- mation from various database tables and generate reports Review Figure slide 30 in the Chapter 2 powerpoint Tell me how you think this table will apply to this class. Which category do you put systems like Excel, Quickbooks, and SAP (manual or automated) Which types of companies would use each of the above systems What other database accounting systems have you heard about