Evaluation of the Effects of Digitization in the Process of Accounting Operations in a Selected Manufacturing Company

¹ VŠB Technical University of Ostrava, Faculty of Economics, Department of Business Administration, Czech Republic
² VŠB Technical University of Ostrava, Faculty of Economics, Department of Accounting and Taxes, Czech Republic
³ VŠB Technical University of Ostrava, Faculty of Economics, Department of Business Administration, Czech Republic

^* zuzana.stefanovova@vsb.cz, hana.bartkova@vsb.cz, jindra.peterkova@vsb.cz

Abstract

The principles of industry 4.0 progressively penetrate into accounting. The process of accounting activities from entering accounting documents to posting accounting documents is now fully automated. Through digitization and artificial intelligence, the invoice is automatically read and recorded in the accounts. On the other hand, activities in the process of control of realized accounting operations, including financial management of the company, remain to the accountants. Digitization of invoices is based on converting from paper form by using document scanners to digital form. This is followed by automatic reading from invoices through AI which uses neural networks. Accounting Act is intended to define methods of using electronic documents, understanding accounting records. It will give the sufficient knowledge of the technology used and knowledge of employees to automate accounting operations. Despite this, digitization brings benefits in terms of time savings, lower costs, and an overview of the volume of liabilities on invoices. The aim of the paper is to evaluate the effects of digitization of accounting operations through corporate economic data. At the same time identify the main problems that arise during digitization. Case study will document the findings. The business data of a particular company and data from the Czech Statistical Office will be used for processing.