The purpose of this study was to provide an overview of computerized accounting in Ghana and also investigate challenges and benefits associated with its usage. The stratified probability sample method was adopted for the study. The population was divided into six categories, namely; banking information technology, hospitality, service, manufacturing and multimedia. Respondents were sampled from the aforementioned categories. The findings of the study showed that despite certain challenges identified with the use of computerized accounting in Ghana, its usage is very predominant among businesses in the country. Businesses are urged to invest in computerized accounting because it simplifies and speeds up accounting operations and any investment thereof with regards to accounting software new releases and updates in the short and long terms is worth doing.