How Technology Changed Accounting

Think about a time before digital accounting products. Manual inputs, calculators, pencils, countless hours lost and eraser shavings you could practically drown in – that was the life of CPA’s. Not to mention, you had to have a natural knack for numbers because all you were armed with was a calculator and you weren’t afraid to use it.

Then and Now

Technology has improved the accounting game to such an extent, that you won’t find business owners who haven’t adapted to it one way or another.
Can you imagine having to painstakingly comb through each pencil entry because your books didn’t balance? Or repeatedly entering the same data into several spreadsheets and invoices?

Aside from manually entering numbers, there are several other areas that vastly improved, thanks to accounting products, such as:

  • Automation – Specialised software can update your templates and database automatically, when you send out invoices or receive payments. Additionally, you can schedule payments to be made to ensure employees and suppliers are paid on time.
  • Time Management – With the help of automation, error notifications and built in calculators, accountants and business owners can save themselves hours of data capturing or scrutinising entries to find errors. During this time, accountants can also get in touch with their creative side by thinking of ways to improve on the company’s financials.
  • Accessibility – Gone are the days of having to physically visit your bookkeeper. Online accounting software, combined with mobile apps means that you can access and edit your files from anywhere in the world, easily. Additionally, security passwords of your choosing can allow or deny access to employees, keeping necessary records safe.
  • Training – You no longer need years of a financial degree behind you or a natural knack for numbers. Accounting products like QuickBooks, have easy guidelines built into the programme, which means help is available at the click of a button in the software or via online video platforms.
  • Tax – The CPA’s nightmare has turned into a manageable time of the year. All of your data, from employee details to records of taxable deductions is held in one place, which means your submissions can be a breeze. Furthermore, QuickBooks extends their helpline hours during tax season, to ensure you’re not left in the dark.

If you’re still doing it old school with your business, it’s important for you to broaden your horizons, unleash your company’s potential and ‘own it’.

Get with the times and choose comprehensive accounting products from QuickBooks today.

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Personal Information
Where a party receives any personal information (“PI”) related to the other party, the party who receives the PI, will comply with and have adequate measures in place to ensure that its employees, agents, subsidiaries and representatives comply with the provisions and obligations contained in the Protection of Personal Information Act, No. 4 of 2013. Any PI pertaining to one party which is required by the other party, will only be used by that other party for the purposes of this contract and will not be further processed or disclosed without the written consent of the latter and the recipient of that PI will take all reasonable precautions to preserve the integrity and prevent any corruption or loss, damage or destruction of the PI. If and when the contract is terminated, each party will, save to the extent that it is required to do otherwise by any applicable law, erase or cause to be erased, all PI and all copies of any part of the PI relating to the other party”.