The study was carried out to assess the relationship between computerized accounting systems and organizational performance especially on quality financial reporting. The study aimed at evaluating the uses of computerized accounting system in business today; the limitations of computerized accounting system in business; and the relationship between computerized accounting and financial reporting in business. To achieve the above purpose, a cross-sectional research design together with the explanatory research design and analytical research design were used in the survey. The survey population included CEOs, Finance officers, Accountants, internal auditors and stakeholders of Stanbic Bank Uganda Limited, Mukono branch. Purposive and simple random sampling methods were used to select samples used in the study. Self-administered questionnaires were used to collect from Stanbic Bank Mukono Branch. Data was collected from 60 respondents. Data was analyzed using SPSS (Statistical Package for Social Scientist). While assessing the benefits of computerized accounting system, the findings indicated that respondents agreed that computerized accounting systems minimizes errors and allows easy posting of transactions on ledger. On examining the qualities of financial reports generated by Bank, 96.67% of the respondents accepted that financial reports produced are reliable and 3.33% respondent disagreed. The study indicated a strong relationship between computerized accounting system and financial reporting. Therefore, computerized accounting has a strong relationship of (r2-0.828, P=0.172) this suggests a positive effect on financial reporting and recommended that the firm should run the computerized accounting systems alongside the manual system where some data can be captured manually. This is important because should the computerized system breakdown, important source information can still remain available. One other fact is that the computerized system very much relies on human effort which justifies the simultaneous run with the manual system. The researcher also recommends that the firm should run the computerized accounting systems alongside the manual system where some data can be captured manually. This is important because should the computerized system breakdown, important source information can still remain available. One other fact is that the computerized system very much relies on human effort which justifies the simultaneous run with the manual system.